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DASH partners with Bitbns; platform introduces no-fee service for the coin

Priyamvada Singh

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DASH partners with Bitbns; platform introduces no-fee service for the coin
Source: Pixabay

On 21st September, Dash, the cryptocurrency ranked 11th on CoinMarketCap made the announcement of its partnership with the India-based cryptocurrency exchange Bitbns. Dash is a relatively new cryptocurrency, founded in 2014 and built on the code of Bitcoin Core.

In its official Tweet, Bitbns wrote:

“We are excited to announce our new partnership with @Bitbns, one of the leading exchanges in #India! For a limited time transact in $Dash for no fees on the #Bitbns platform!”

Amidst the financial hyperinflation crisis in Venezuela, the country is holding on to Dash as the pillar of support. Recently, Discover Dash, a platform for exploring the nearby Dash merchants and events announced that the count of merchants supporting Dash around the world has gone up to 3,000. Subsequently, Venezuela accounts for almost half of the total merchant adoption of the ecosystem.

In August, it also came to light that Dash claims the second largest market in the region. The adoption of Dash is at the rate of 100 merchants per week in Venezuela, as stated by a Dash official previously. In the same month, the Venezuelan national currency was also devalued by Dash by more than 90%, which gave rise to a new enthusiasm for cryptocurrencies in the country.

Dash has also made many efforts in advancing the cryptocurrency space in Latin America. Recently, it announced its partnership with Kripto Mobile Corporation [KRIP], a platform that manufactures cryptocurrency-supported phones. Here, the phones will carry an inbuilt ecosystem of Dash, including the wallet for story DASH.

Earlier this year, the EOSIO ecosystem introduced a plan to buy and sell RAM with EOSIO’s native cryptocurrency, EOS, in case the community members run short on RAM. Bitbns became the first cryptocurrency exchange to have listed EOS RAM for sale.

Apart from Dash, the platform also deployed Tether [USDT], Ethereum Classic [ETC] for trading recently. The main cryptocurrency markets trading on Bitbns are Bitcoin [BTC], Ether [ETH], NEO [NEO], Pundi X [NPXS].



yashrajavi, a Bitbns user and a cryptocurrency investor commented on the announcement, addressing an issue. The user wrote:

“hey @bitbns deposit is pending and its been 4 days need confirmation …”

Another member of the cryptocurrency space and a Bitbns follower, A.Murali also asked:

“Will you list @LpesaICO coin in bitbns i expecting reply from you ?”





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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

Bitcoin

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

Priya

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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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