Dash network may match PayPal levels as per upcoming research study
Dash network has a great possibility to nearly match with ease the current level of transaction of PayPal. This future outcome on Dash network is a part of a research study conducted by Arizona State University (ASU). The paper entitled Block Propagation Applied to Nakamoto Networks is yet to be published. According to a report by BCFocus, Dash is also preparing itself for the launch of DashCopay wallet based on iOS and Android.
The research paper lays emphasis on the techniques of propagation for minimising the orphan rate which are marked at high levels. It says, “We found that xthin block propagation can support the Dash network with a capacity at least an order of magnitude larger than the original Dash protocol.
We expect that compact blocks can also support this capacity. However, compact blocks seem to not work as well at larger block sizes. We also found that traditional block propagation ran into two limits at scale. One limit involving economic considerations of miners and another limit where the network became unstable.”
Holistically, the paper suggests that a level of 10mb blocks can easily be scaled up by Dash with an orphan rate of 0.1%. In contrast to the block interval duration of Bitcoin [BTC] which is 10, Dash is marked at 2.5 minutes. Dr. Darren Tapp, the co-author of the paper stated that this step would assist to enhance the capacity of Dash network. With the increase in capacity, Dash can give competition to major networks of global payment. Dr. Tapp has stated, “10MB blocks would be able to process around 120 tx/sec. This is just over half of what PayPal processes on average.”
Dr. Tapp is hopeful about the potential of Dash network to easily scale and go beyond even the mark of 10mb block. He commented, “I’m very optimistic. This research is just one small part in the whole body of what’s known. Peter Rizun and Andrew Stone have shown that xthin propagation can support much larger blocks. Also, Brian Levine, and George Bissias are showing great progress with graphene block propagation. If some software optimizations are thrown in I feel Dash can support much more without a major hardware upgrade. Of course, Dash’s ace up their sleeve is that if hardware upgrades are ever needed, the resources will be available for Dash.”
Research study plays a pivotal role in the upcoming growth of Dash
Mostly, blockchain network based academic research study revolves around one particular subject- Bitcoin. In this context, Dr. Tapp points out the significance of having research work on other digital currencies including Dash network rather than being confined to Bitcoin. According to Dr. Tapp, “I do believe it’s important. If Peter Rizun says that Bitcoin Cash can support 1GB block every ten minutes, then me may naïvely assume that Dash can support 250MB blocks every two and a half minutes. However, I would like to test this naïve assumption before taking it to production. I would not be surprised if processing a smaller block more often would allow for a greater transaction throughput.”
At different point of time, Dash network has made investments in research with long duration. This specifically includes providing fund to ASU research lab based on blockchain technology which generated scaling papers and also distributed research giants. The founder of Dash, Evan Duffield has also led to the foundation of Dash Labs which conduct research work in similar manner for long term growth.
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