Dash just confirmed 591,166 transactions over a 24-hour period, which is 100,000 more than Bitcoin’s record of 490,644 transactions in December. While high traffic generated a transaction fee of $34 on the BTC network, Dash maintained an average transaction fee under one cent.
Dash resulted from a Bitcoin fork back in 2014 as a peer-to-peer currency; and focused its protocols and code to be geared more towards privacy. The community uses the DAO structure to make decisions in the DASH ecosystem. One of its most recent developments consists of Dash Ventures, a decentralized investment fund created earlier this month.
Dash Core CEO Ryan Taylor stated that the stress test result was unanticipated for Dash’s core team of developers. A group of users that were unaffiliated with the project developed a stress test tool which produced thousands of artificial transactions for the network to handle.
While Bitcoin is looking into off-chain solutions to improve its scalability issue, Dash didn’t experience any problems in the network’s processing times during the stress test, which occurred on-chain.
“The results were really astounding”, stated the CEO. “There was no network lag and no increasing friction costs for our users; average fees were a tenth of a penny.”
Low transactional costs and fast processing speeds signify that Dash has specialized itself on micro-transactions.
Taylor believes that the recent stress-test showcased Dash’s ability to scale. The scaling plan for the long-run will make the Dash network be able to process forty-times the number of transactions as Bitcoin can over half of what centralized online can currently process.
“The results show there is no limit to Dash’s scalability”, stated Taylor.