Dash price rises 20% after Lamassu Bitcoin ATM integration proposal approved

Dash has announced a partnership with Lamassu, the Bitcoin ATM service provider that currently has the “largest ATM network” in the world. The price of Dash rose by about 20% upon the announcement of the cooperation between the two.

Evan Duffield, founder and lead developer of Dash, announced the Dash budget proposal for January 2016 to the community on December 28. The budget system is an important part of Dash's decentralized management system. Anyone can submit a budget proposal to the Dash blockchain. If the proposal receives enough votes from masternodes, it will pass and receive a certain amount of funding from Dash mining rewards. The voting mechanism is maintained through a proof-of-stake mechanism. Users who run masternodes must have 1,000 Dash as collateral to qualify for the establishment of a masternode. After the masternode is successfully established, it is eligible to vote.

News of Dash’s partnership with Lamassu was included in Duffield’s budget proposal, with Duffield writing:

Lamassu Bitcoin ATMs will help Dash enter the daily lives of ordinary users, providing a real-life channel for Dash to get close to ordinary users. Dash is working with Deginner Development Company to achieve this initiative. Deginner has extensive development experience in Lamassu Bitcoin ATMs and knows how to help Dash integrate with Lamassu Bitcoin ATMs.

Dash needs long-term technical support in this regard to cope with any changes in the Dash or Lamassu ecosystem in the future. Therefore, Deginner will provide technical support for Dash for two years. Ella Miller from Deginner played a key role in the cooperation between Dash and Lamassu. He has been communicating with Lamassu, letting Lamassu know about Dash and providing Dash with the opportunity for this integration.

According to Coinatmradar, Lamassu currently holds approximately 26% of the global Bitcoin ATM market share with 141 Bitcoin ATMs in operation, still leading in terms of market adoption, followed by Genesis Coin.

“A key requirement for the integration is for Dash to be available as an alternative to Bitcoin, so that users can choose Dash from the ‘option menu’ at the Bitcoin ATM,” Duffield explained.

Dash is not set as a default option in Lamassu’s Bitcoin ATMs, but this is a key step for Dash to enter the cash-to-cryptocurrency market, and after taking this step, there may be further developments in the future, such as integrating compatible Lamassu wallets and backends.

Zach Hervey, CEO and co-founder of Lamassu, said:

Ella Miller of Deginner approached us with the idea of ​​developing a Dash version of the Lamassu ATM using our open source software, and we were very open to his proposal and glad to see that he was working on it. Ella had previously worked on the Bitcoin ATM that Lamassu installed in Panama, so he had experience. As a rule, we are open to integrations for pull requests that have a good market basis, meet our standards, and have reasonable requests.

Ella Miller, co-founder of Coinpapult and Deginner, signed a two-year contract with Dash this time, and his monthly compensation is 610 Dash, about $2,000 USD (at current prices), and the funds are directly from the Dash blockchain. Ella Miller said on Twitter on December 28:

Very interesting to see Dash's efficient blockchain management system in real time @Dashpay @LamassuBTC Here's the budget system voting on this integration.

The news appears to have been seen as positive by speculators or investors, with Dash prices rising by nearly 25%. At the time of writing, Dash ranks fifth in digital currency market capitalization ($3.48), just behind Ethereum and Litecoin.

The voting for this budget proposal (including the integration with Lamassu) has ended, and the current voting results of more than 1,500 yes/10 no indicate that the majority of Dash users agree with the proposal.

Original article: https://news.bitcoin.com/dash-goes-20-lamassu-integration-approved/
By Juan Galt
Translator: Bibit
Proofread by: Alexy
Editor: printemps
Source (translation): Babbitt Information (http://www.8btc.com/lamassu-dash)