Lightning cryptocurrency exchange
Dash is a blockchain-based cryptocurrency, the distinguishing feature of which is the use of the mechanism for increasing transaction confidentiality, developed in 2014 by Evan Duffield. Initially, the currency was called “XCoin”, and after testing and introduction to the masses, it was renamed to “Darkcoin”. The current name “Dash” cryptocurrency received in March 2015.
Dash Blockchain Transaction Processing Speed
DASH has an Instant Send feature — this development allows payments to be made in seconds. Cryptocurrency exchange using the new technology is slightly more expensive than usual, but this is offset by an accelerated transaction processing mode.
The average formation time for a new block is approximately 2.5 minutes, which is four times faster than on the Bitcoin network.
Dash network fee
The average fee of the network depends on the type of transaction, but on average according to the data for 2019 was $0.0007, which is also an advantage of this cryptocurrency.
A brief history of the Lightning Network
The Bitcoin community has long been baffled by the scalability issue. The speed of transactions fell, and the network fees grew. In 2015 Thaddeus Dria and Joseph Poon proposed a solution called the Lightning Network. The idea was to carry out some of the transactions outside the network, thereby reducing the load on the BTC blockchain. In 2018, the Lightning Network was launched in Bitcoin.
The Lightning Network is a system that helps users move funds among themselves without having to use a blockchain to verify a transaction. Instead, there is a quick check of funds from the sender and a request from the recipient who agrees to the transaction.
Problems you may encounter while getting the Lightning Network
- If during the creation of an order when inserting an invoice, an error occurs about the absence of a path, this means that there is no created channel between our node and your wallet node. A channel is required to send and receive payments on the Lightning Network. If there is no open channel between our node and your wallet node, the payment will not be executed. It is recommended to try using a different wallet.
- If the order page indicates that the order was completed, but you did not receive the funds, then the reason for this may be:
- Disconnected intermediate node. If one of the intermediate nodes is offline, the transaction may be delayed.
- Insufficient amount of deposits on intermediate channels. Intermediate nodes cannot forward the payment due to lack of coins.
- The invoice is out of date. Each invoice has a validity period. Of this term has expired, the payment will not work.
If your order is completed, but you have not received the funds, please contact technical support. We can help you quickly.
Lightning Network Speed
Since transactions on the Lightning Network do not end up on the blockchain, they are almost instantaneous. But if one of the intermediate nodes is off the network, the transaction may be delayed.
exchange in 3 easy steps
- Enter the desired amount of Dash and write your wallet address to receive currency.
- Click the “Exchange now” button and you will be taken inside your order.
- Send Dash to the address from your order, after the required network confirmation, Bitcoin (Lightning) will be sent instantly.