Questions about InstantSend

D

dashly

Active member
I'm new here with several questions. I own a medium sized business and backed out of integrating bitcoin last year due to confirmation times since we need transactions to process immediately. My questions with Dash are

1. Wiill a business be able to enforce InstantSend, or is it strictly up to the user? If it is up to the user, we would never be able to integrate Dash, and I can imagine most businesses wouldn't.

2. Also, if it is strictly up to the user, is this something that can be fixed in a future release? I think for a cryptocurrency to actually be used as a currency, most transactions would need to process instantly.

3. Segwit, which will probably never be adopted, was supposed to allow for off-chain transactions on the lightning network, which would theoretically be able to handle more transactions than Visa. What is the scalability of InstantSend, and is it dependent on the number of Master Nodes?

Thanks for your time!
 
dashly said:
1. Wiill a business be able to enforce InstantSend, or is it strictly up to the user? If it is up to the user, we would never be able to integrate Dash, and I can imagine most businesses wouldn't.
Click to expand...
It would be great, wouldn't it? Right now it's up to the user. That's why some of us are pushing for proper InstantSend implementation and other merchant needs to be a priority. /me summons @camosoul
It's not as simple as it may seem because most mobile wallets are based on bitcoin code that is oblivious to IX, and have no way of even knowing a merchant is even requesting/requiring it.

dashly said:
2. Also, if it is strictly up to the user, is this something that can be fixed in a future release? I think for a cryptocurrency to actually be used as a currency, most transactions would need to process instantly.
Click to expand...
I'm sure it will be fixed in the Evolution release, planned for later this year. If the devs get the DAPI working, it would make for very easy development of light wallets and merchant checkout web snippets.

dashly said:
3. Segwit, which will probably never be adopted, was supposed to allow for off-chain transactions on the lightning network, which would theoretically be able to handle more transactions than Visa. What is the scalability of InstantSend, and is it dependent on the number of Master Nodes?
Click to expand...
It should be very scalable, since locking transactions depends on only a few of the Masternodes (a MN quorum) and also because MNs could be required to upgrade their hardware as needed by the network.
 
You must log in or register to reply here.
Back
Top