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CEO of Dash [DASH] talks about the Revolutionary new technology, ‘Evolution’

Aman Swami



CEO of Dash talks about the Revolutionary new technology, 'Evolution'
Source: Pixabay

Recently, CEO Money show hosted by Todd Rowan and Linda Butcher covered an interview with Ryan Taylor and Bradley Zastrow. Ryan Taylor, CEO of Dash core group Inc. is a payments industry expert with an extensive background in financial services technology and strategy. Prior to his role at Dash, he worked with Mckinsey in the financial services department and after that, at a hedge fund in New York. He joined Dash as the Director of Finance and continued the role till 2017 and after that resumed the position of CEO at Dash.

Bradley Zastrow is the Global Head of Business Development at Dash. Before Dash, he worked with American Express and has an industry experience of 17 years.

Dash is a fork of Bitcoin which came into existence in 2014. It currently ranks 13th on the CoinMarketCap. With its prize surging at the rate of 0.35% in the last 24 hours, the price at the moment stands at $492.79.

Ryan Taylor shared an overview of the technology that runs Dash, the cryptocurrency listed on the market. He explains that Dash is similar to Bitcoin and other cryptocurrencies, the element that differentiates it from other cryptocurrencies is its aim.

Dash is a payment focused digital currency, which means that they optimize all of their technology decisions, business, and marketing strategies around the concept of payments as opposed to other potential use cases for digital currency.

He further answers the question of how he aims to do so.

Dash has re-architectured basically the way the network itself operates, they have a second layer to their network called the masternode layer which are special nodes or servers operating on their network that perform specific functions that aren’t available on other networks.

One of the most popular is their instant send feature which allows payments to be confirmed in about one to two seconds. It is on par with the credit card authorization which allows Dash to be used as a payment method at the point of sale.

Ryan Taylor clarifies in the interview that he is the CEO of Dash core group Inc and not the CEO of the Dash Network. He further draws a distinction between the two, describing how the two operate. Dash Network is independent and it is completely decentralized. Dash core group is more centralized, the employees put up their proposals in order to receive funding from the network to facilitate their operations whereas, in Dash Network, the users collaboratively take decisions.

Ryan Taylor says:

“In some way, I am the sub-contractor to the network, the company that I operate is a subcontractor to the network, we are serving the needs of the network”

Ryan talks about ‘Evolution’ which is coming out soon – in simple words, it is the next version of the software. The goal of Evolution and Dash is to make cryptocurrency as easy to use as possible baring the current difficulties of cryptographic addresses and plumbing. It plans to allow users to send a login from any device, send a friend request and send payments.

CEO, Ryan Taylor says:

” Evolution is a landmark release for Dash and it is not easy to make an independent, decentralized software like Evolution.”

Evolution is marked under ‘coming soon’, the CEO has not announced any official date as of now and is looking forward to the release as he believes it will revolutionize the cryptocurrency market by making it easy to access for ordinary users. But the viewers can access the demos that are released by Dash to keep a check on the progress of the new technology. The aim is to release it by the third or the fourth quarter of this year.

Ryan Taylor further emphasizes the requirement of any crypto related software to be an open source as the point of a decentralized market is that. Evolution would be open source and available to the world as it is the need of the hour for the cryptocurrency market and will help it a lot.

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Aman Swami is an Economics major from Christ University. He is very passionate about cryptocurrency and understanding of financial markets.


Bitcoin’s [BTC] security is 100 times more than that of Bitcoin Cash’s [BCH], says Litecoin creator





Bitcoin's [BTC] security is more than a 100 times than that of Bitcoin Cash [BCH], says Litecoin creator
Source: Unsplash

Charlie Lee, Creator of Litecoin [LTC] and Managing Director of Litecoin Foundation, spoke about projects that allocate mining rewards to developers, in an interview with Laura Shin for Unchained Podcast. He also opined about whether Litecoin’s vision still remained the same or not.

On projects that allocate a percentage of the block reward to developers, Lee stated that it was “okay” as long as the project developers were transparent on this subject, adding that in some cases, this was “needed”. He further stated that it was hard to find developers for Litecoin since, there were not enough funds to pay these developers.

[…] we work on raising money and using money to pay for developers but unlike ICOs or other projects we just don’t have millions sitting from selling our ICO tokens to fund these developers. So, yeah I think projects that do that it’s kind of needed […]”

However, Lee stated that for cryptocurrencies such as Bitcoin and Litecoin that really want to become decentralized money, there cannot be any centralized actions like using mining rewards to pay developers.

This was followed by Lee speaking about Litecoin’s vision and the coin’s use case. On this, Lee stated that the current vision was still “very similar” to the old one, seeing Litecoin as a complement to Bitcoin. He added that Litecoin’s raison d’être was not to replace Bitcoin, unlike some other coins that claim to be the better version of Bitcoin.

“[…] I think it’s trade-off. So, a lot of people don’t talk about the trade-offs people talk about how they have fees are cheaper […] people in support of Bitcoin Cash constantly talk about how Bitcoin Cash transaction fees are like a hundredth of that of Bitcoin but, you get what you pay for right […]”

He further added that Bitcoin’s “security was more than hundred times” that of Bitcoin Cash, irrespective of the hash rate being more or not. Lee remarked that one cannot “attack Bitcoin,” whereas Bitcoin Cash could be “eas[ily] be attacked,” adding that this factor was very important and also the reason for cheaper fees.

“[…] same for Litecoin alright. Litecoin is cheaper and the security is less than Bitcoin […] so people who actually move lots of money they would want to use Bitcoin and I think that’s fine like Litecoin can compliment Bitcoin perfectly fine […]”

Lee stated that this was the reason he agreed with Lightning Network, arguing that it was good for both Bitcoin and Litecoin. He stated that Lightning not only helps them scale, but also enables cross-chain atomic swaps, allowing people to swap two different coins instantly and easily in a decentralized manner.

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