Dash Founder: Cryptocurrency World Needs More Capacity Than Just Bitcoin

By January 27, 2016Bitcoin Business

On Thursday we reported that Dash marked its second birthday last week with a vote among its stakeholders to increase the blocksize from 1 MB to 2 MB . Despite coming far ahead of demand for the move, the measure passed in less than 24 hours by an overwhelming majority with 99 percent of the vote.

Evan Duffield, creator and chief architect of Dash proclaimed: “With pundits in a panic proclaiming the death of bitcoin and other decentralized cryptocurrencies not backed by a bank or government from a single blog post by a former bitcoin developer who has joined a bank blockchain development consortium, we thought it would be instrumental to show how the superior consensus mechanism in the world’s fastest cryptocurrency can be achieved in a single day through Dash’s decentralized governance protocol where one literally votes with one’s coins.”

On Friday Duffield gave a rare in-person presentation at the North American Bitcoin Conference updating the bitcoin community on this, as well as to show an early version of Dash Evolution, a mobile-enabled user interface that will make interacting in Dash easier. Before his presentation Duffield shared his thoughts with Finance Magnates about this move and his creation. Why was the blocksize increased now?

“Learning from the experience of others is critical to success, it is clear that cryptocurrency is reaching a stage in which it needs more room to keep growing. Most people still think in terms of more space within the Bitcoin blockchain, but we believe it is more important for the cryptocurrency industry as a whole to offer more capacity. This growth can come from other blockchains too, like ours, but for this to happen we need to be prepared and listen to the market and what users are demanding.

Another very important reason to go through this […]

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