Dash's Instant Transactions Are Now Reality
Dash’s InstantSend technology, previously called InstantX are now come to reality. Dash enthusiasts believe the instant transaction and confirmation feature holds great potential for point-of-sale retailers.
Dash as developed a beverage vending machine that can secure a transaction without the need for a block confirmation. The Dash N Drink makes (instant transactions) real, right in front of our eyes. When we scan the QR code on the screen, and a can of soda pops out instantly. The "Dash N Drink" machine was created by long time Dash users Dustin Eward and Jeremy Maus.
To demonstrate Dash's instantSend technology, Dash N Drink machine was debuted at the North American Bitcoin conference in January.
InstantSend uses Dash’s second-tier masternode network to secure a transaction. The network-wide locking prevents double-spend attempts. The transaction cannot be reversed either, similar to blockchain inclusion. The Dash masternode network detects transactions marked “InstantSend.” The network issues a lock on the input to the transaction and broadcasts a “confirmed tx” message to the network. This input cannot be used for any other transaction.
The technology allows Dash to compete with credit cards for point-of-sale transactions without relying on a centralized authority. Dash enthusiasts believe the technology will provide merchants an advantage over other payment methods as it does not rely on a third-party processor to authorize transactions.
InstantSend also provides the purchaser the benefit of having transactions confirmed in a few seconds as opposed to other point-of-sale systems.
Bitcoin and other cryptocurrency transactions, for instance, can require a user to wait for confirmations, a reported average of 10 minutes for a single confirmation, before the receiver can consider the transaction valid. The wait can be even lengthier when the system is backlogged with activity.
So, Dash’s InstantSend technology can attract more people soon.
For me its a huge innovation for merchants, little ones and big ones, as there are often liquidity issues in business. Dash technology if democratized can thus increase the World GDP.
For the people who doesn't see how it can helps, you have to know that businesses often closes due to liquid funds that are not available within weeks and so they can't pay their debts which push businesses to put the key under the door.