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In an episode of the Abra Money 3.0 podcast, the CEO of Dash Core team, Ryan Taylor, explained that Dash’s InstantSend and ChainLocks carrying out instant cryptocurrency confirmations are capable of solving market volatility problems.
The CEO went to the bottom-line of the challenges that are being initiated by market volatility while speaking with Bill Barhydt the CEO and founder of Abra, a financial services and technology company.
According to Taylor, the volatility issues have more effect on Dash than Bitcoin, due to the size of the digital token DASH in the crypto market.
He pointed out that the instantly confirmed transactions allowed by tools such as Dash’s InstantSend and ChainLocks can proffer permanent solution to volatility issues if leveraged by crypto exchanges and similar services.
He said, “The volatility issue is real. It’s even more real for a smaller cryptocurrency like Dash, which has about 25% higher volatility than Bitcoin does. One of the advantages that Dash has is its speed, however, because volatility over time can be reduced if the time itself is compressed…”
Functions of InstantSend and ChainLocks In Favor of Dash
InstantSend and ChainLocks serve as tools that foster the security of DASH transactions.
Dash’s InstantSend locks in and makes transactions settling almost immediately, while ChainLock, which was activated in July 2019, permanently locks in blocks as soon as the payment is effectively finalized.
These two major functionalities have since increased the trustworthiness and security of DASH transactions.
Dash Strives for Recognition with Its Instant Transaction Technology
During the same interview, the CEO, Ryan Taylor averred that many exchanges are still looking down on the functionalities of Dash. He said the digital currency is really tackling the issues of market volatility via fast transactions which some exchanges and similar services are not leveraging.
Despite the difficulty of convincing exchanges that don’t understand the benefits embedded in Dash’s special transaction tools, the CEO still remains optimistic. He said they are determined to head out and educate the exchanges about the features in Dash’s InstantSend and ChainLocks.
He added that exchanges that list the digital token DASH have the advantage of higher trading volumes due to the fast transactions offered by the cryptocurrency.
“We have to go out and educate them on how to accept these, how to recognize the InstantSend locks and so on, and recognize the benefits to them. Exchanges that honor InstantSend, it’s probably obvious, see higher volumes. They see higher trading volumes.”