Dash, the third most popular cryptocurrency used for global payments, is doubling its block size to two MB following 99 percent stakeholder approval.
Dash, whose current market cap is $25 million, has a four dollar per coin valuation. It cites three differentiation points:
- Instant confirmations (compared to 10 minutes or more for other cryptocurrencies);
- A mining system which retains a share of rewards to pay for future network development;
- Governance which is hard-coded into the network allowing stakeholders running a 1,000-plus Dash node to have an instant vote on future network development.
In a release Dash said it is a better solution for smaller transactions which bog down bitcoin blockchain.