Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: sulphur007 on April 17, 2020, 01:56:48 AM
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Dash is one of the privacy-centric coins that also focuses its attention on improving transaction speed and real-life adoptions. Dash is an exciting project that has been growing fast, especially in developing countries with failing fiat currencies. With this article, we will explore the advantages of Dash and whether Dash coin is worth your money for long-term investment or not. Let’s begin!
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DASH - Summary
Dash coin was created in 2014. At first, it was focused on improving privacy and untraceability. The main idea was to become another privacy-centric coin. However, after the coin rebranding from Darkcoin to Dash, slowly but surely, the main vision of the core team changed. From more about privacy-centric to more about peer-to-peer electronic cash.
It doesn’t mean that Dash does not promote and upgrade its privacy and untraceability features. Until today, PrivateSend (Dash’s private send feature) remains one of the biggest advantages of Dash. However, as you can see from the official website, Dash's main selling points nowadays are about speed and cheap transaction costs.
Dash recently has been gaining adoption in developing countries. For example, in Venezuela. There are undoubtedly a lot of problems in Venezuela, and the local fiat currency is going down big time. Many Venezuelans have started to look for alternatives to send money abroad, and one of those alternatives is Dash.
Besides Venezuela, of course, Dash is hoping to gain more adoptions in both developing and developed countries. In a report from Q2 2019, Dash team stated that the coin had been approved by more than 4800 merchants all over the world, and more than 150 brokers and exchanges.
This number is considered impressive, especially knowing that many higher market cap coins have smaller numbers of adoption rates. Dash also bragged about its ability to send money within less than 1 second.
Basically, Dash is a cryptocurrency that tries to solve the industry’s biggest problem. Adoption. And to achieve that goal, Dash keeps improving its speed and cheap transaction costs. At the present time, Dash is seen as one of the fastest cryptocurrencies, competing with the likes of NANO, XRP, XLM, TRX, and other speedy coins.
Dash’s technology uses a hashing algorithm called X11. This hashing algo utilizes a sequence of eleven scientific hashing for Proof of Work consensus mechanism. Dash also uses the concept of the master node to verify transactions speedier compared to standard cryptocurrencies.
The concept of the master node is needed in Dash to confirm PrivateSend and InstantSend features. By utilizing master nodes, InstantSend is able to send DASH transactions within just one second. They can achieve this speed because there are way fewer master nodes compared to standard nodes, so the transaction verification is much faster.
In order to become a master node, you need to stake 1000 DASH coins, which will be automatically locked. Computers who become master nodes will be able to get financial rewards considering their crucial roles in transaction verifications.
There are various factors to determine the economic reward for these master nodes, but usually, they will be able to get 45% of a block reward.
A Little Bit More About InstantSend And PrivateSend
To understand Dash's unique selling points, we need to learn more about Dash’s biggest advantages compared to its competitors. They are the features called InstantSend and PrivateSend.
So, what are those features, exactly? InstantSend is a feature where you can easily send DASH coins instantly within a few seconds, sometimes even less than 1 second. To do this, the role of the master node is needed.
Whenever someone broadcasts his DASH coins on the blockchain using InstantSend feature, the transaction will be seen by a group of master nodes. The same master nodes will reach a consensus and verify the transaction.
By ignoring the masses (normal nodes), you can easily “confirm” an InstantSend transaction thanks to the presence of the master nodes.
Apart from confirming InstantSend transactions, master nodes also have the responsibility to confirm PrivateSend transactions. Just like with InstantSend, the PrivateSend transactions “skip” the normal nodes and interact directly with the master nodes.
The transactions inside PrivateSend are broken down to discrete denominations like 0.1 DASH, 1 DASH, 10 DASH, or 0.01 DASH. Then, each PrivateSend transaction will be mixed with two other PrivateSend transactions. The master nodes will “mix” all the denominations from 3 PrivateSend transactions.
The hope is that, by mixing all of these denominations from multiple transactions, the transaction will be untraceable. Different from InstantSend, PrivateSend requires more time to be confirmed by the blockchain.
Both InstantSend and PrivateSend are the unique features that make DASH unique compared to other blockchain platforms. Of course, there are cryptocurrencies that are as fast as DASH, and there are other cryptocurrencies that can also send untraceable transactions. But, to have both options at the same time? That’s not very common.
Analyzing DASH Team
As I have mentioned in my other articles, to invest in a cryptocurrency means to invest in the team. This is very important because many cryptocurrencies promise certain features in their roadmap. And more often than not, cryptocurrency traders and investors put their faith in the team’s words.
So, how about the DASH team? The team behind this coin is called the Dash Core Group. Ryan Taylor acts as the CEO of Dash Core Group. Andy Freer is the CTO, Fernando Gutierrez is the CMO, and Evan Duffield is the Strategy Advisor.
The team looks solid and has a strong background history. The CEO (Ryan Taylor) was the engagement manager and associate principal at McKinsey & Company. He was also the owner of Inaltair, LLC, equity research and due diligence service company.
Despite a strong background, actually, Dash Core Group is not free from controversies. Back during Dash’s earliest days, there was the controversy where 1.9 million coins were insta-mined. 10% of the total supply was created within just two days.
Evan Duffield, co-founder of Dash, made a public statement that the instamine happened because of a bug in the Litecoin forked code. The coin itself successfully regained their popularity sometime later even though the core team rejected some proposals to “fix” the instamine problem.
For your information, Dash was known as Darkcoin. And before the coin was rebranded to Dash, it was basically a fork of litecoin v0.8.6.2 with an additional feature from Peercoin called checkpointsync-code was inserted into the script.
DASH Future And Potential Roadblocks
Dash is a cross-border coin with a strong future. It has been adopted by a lot of different retailers in different countries. Its adoption rate in South America, especially in Venezuela, is particularly strong. While Dash receives strong competition from other fast coins, but it looks like they already have a strong start and first-mover advantage.
There are, of course, potential roadblocks for Dash’s future. The biggest problem is if bigger corporations and institutions adopt other fast coins. Ripple’s XRP is trying to be “widely adopted” by banks and financial institutions. Stellar is also entering the game with IBM Blockchain World Wire.
There are other dark horses like NANO, Litecoin, TRX, and others. Basically, every fast coin that can be used in cross-border transactions has the potential to become the biggest competitor to Dash. Because at the present time, Dash’s main slogan is to be used as digital cash that you can spend anywhere.
Dash Adoptions
As we have mentioned above, Dash has been accepted by more than 4800 merchants. The adoption rate is considered higher than the average crypto adoptions. You can also check Dash’s official where to spend page on seeing which merchants and websites can actually accept Dash coins.
Some of the websites that accept Dash are Travala, NordVPN, http://CheapAir.com, eGifter, and Dash Giftcard Store. In Venezuela and neighboring countries (i.e. Colombia), you can also find some retail stores and restaurants where they state you can pay with Dash coins.
There are some multiple videos on YouTube where you can see customers paying their fried chickens or coffee with Dash coins in Venezuela. In Medellin, Colombia, there are also some coffee shops and restaurants that accept Dash payments. Typically you can find them in more touristic areas.
External Factor That Can Affect Dash Price
So, we have learned all the good things about Dash coin. But is it enough to make our decision? Unfortunately, not. Talking about cryptocurrencies is not as simple as talking about the fundamentals of each specific coin.
Until today, the price actions of most altcoins are still affected by Bitcoin
. So, when Bitcoin is having a good time, most likely, altcoins would also go up. When Bitcoin is having a bad week or month, altcoin prices usually go down even further.
This theory also affects Dash. So, even though Dash has good and strong fundamentals, but Dash won’t be able to move independently. It is still affected by Bitcoin’s price action, whether we like it or not.
And talking about Bitcoin's price, there are opposite views on whether Bitcoin will go upward or downward in 2020. Some analysts predict Bitcoin will go up in 2020 following Bitcoin’s mining halving reward event somewhere in the middle of next year.
However, there are also skeptics who believe the next year’s halving would be different from 2016. They said there would be no upward movement this time as most big traders have already “predicted” the event since the beginning of this year.
Which theory would be proven true? Nobody knows the future. One thing, though. Bitcoin price next year will be one of the biggest factors in the Dash price against fiat currencies. Make sure not to ignore the Bitcoin price.
Conclusion
Dash has strong fundamentals. It is fast, and its privacy feature is amazing. The future is decent for this coin, and it’s not a bad decision to invest in Dash. That being said, some controversies that we mentioned above should be taken into your consideration as well. Overall, Dash technology is awesome, but the coin is not far from controversies.
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Dash is has big trading volume and strong team.also this project is running better.So I think Dash is a best investment coin.
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This project is already very popular and has a lot of markets in Paris. That's means a lot of liquidity in the market. Also, I think this project has a good team too and it's in the top 100 of Coinmarketcap. That also makes it one of the good investment plans for investors so I think the dash is a good project and its a good time to invest.
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This project is already very popular and has a lot of markets in Paris. That's means a lot of liquidity in the market. Also, I think this project has a good team too and it's in the top 100 of Coinmarketcap. That also makes it one of the good investment plans for investors so I think the dash is a good project and its a good time to invest.
Dash has been doing fine though I strongly believe that there remains a big potential for this private coin to be growing more especially towards the start of 2021. People thinking of supporting Dash should start now accumulating.
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Good article, I enjoyed reading it and learned a lot of interesting things about this coin. Of course, Dash is a very promising coin, its liquidity and popularity is growing. I recently noticed that in the last monthly ranking of cryptocurrencies in China, Dash, although not a prize winner, is far ahead of the popularity of bitcoin.
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I'm not currently thinking about Dash. Because I have invested in top - 3 cryptocurrency. If I get a good profit from there, I will consider investing in another cryptocurrency. Many are making various plans with dash. I say to you, wait for something good. Spend time in the crypto market. At present, investors are having a bad time. But remember bad times don’t last long.
I want to say in the style of poetry, you have to stick to the honest way to win the dream is in your favor.
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Dash is a good coin and one of the best coin to invest.In 2018 beginning Dash has reached $1200, compared to the high value of dash the present value is very low.So I think the current value is good for long-term investments.
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Since March this year Dash (https://www.worldcoinindex.com/coin/dash) has been able to stabilsed itself at a price around $70. Dash is one of the most promising coins of the top coins.
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Dash has long been entrenched in the cryptocurrency field and is successfully developing its technologies and capabilities that are very popular all over the world and that is why so many big investors invest in Dash to create a profit.
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It is one of the good coins that we can invest in. However, I personally am not fan of Dash. I prefer to ETH much more than this coin. If you are looking for long term investment, this Dash may be good choice It has great volume and it is also trusted enough to be top coins for hodl.
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Many people prefer Dash to Bitcoin for the long-term not only because of the potential higher upside, but more-so because it’s user-friendliness. Dash wallets are much easier to use and can essentially be adopted very quickly by the general populace.
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Very much long article which very annoying all. But obviously dash a very profitable coin. If anyone invest in DASH he may get a profitable feedback.
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I remember way back in 2016-2017 when the cloud mining investment was very popular, and I have bought some Dash Mining contract while choosing the Xcrypt 11 algorithm as the time is passing by the difficulty was increasing until I never get any results because it is not enough for the applied fees. why I am saying this because I want to warn the people about the cloud mining contract involving Dash coin, But in other forms of investment involving Dash coin I think it has potentials because as we see it today, the Dash coin is one of the most stable price cryptocurrency in the market thats why it was very promising.
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Investing in Dash will be very beneficial. But if you buy and hold now, you will benefit a lot. But you have to hold for a long time. One of my brothers above said that he chose Xcrypt 11 algorithm. But now the situation was better. But the popularity of xcrypt 11 algorithm has decreased now. Xcrypt is not good for dash currency now. And thanks to him for posting this awareness purpose. Many people are using the wrong information when it comes to investing. So they are not succeeding in investing.
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Dash coin really a good coin for investment purposes , dash coin is act like a stable coin in market Transaction speed Also very well as well we used this coin for mining purpose also .
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If talking about long-term investment, of course, bitcoin. But I agree if using dash as a transaction. Dash transaction speed even exceeds eth or bnb. Dash also has a small fee. This is good for people to use for transactions during this pandemic.
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Dash is good coin for investments this is the privacy coin although this coin has huge supporters so still this coin is going in good condition so we can choose this coin for long term investments definitely that will be profitable it has many trading pairs and huge trade volumes.
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Dash transaction speed even exceeds eth or bnb. Dash also has a small fee.
Is it true? I think bnb is cheaper than a dash. I check it in binance at this time, the fee for bnb is only 0.001 or the equivalent of 0.0163 usd (current rate). while the dash 0.002 or 0.146 usd equivalent (the current rate).
and also, bnb transaction speed in my opinion is faster than dash and eth.
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This is a long write up on Dash, is great to see those but we also need to understand that their are many other projects offering the same solution as Dash, only time will tell which project will be standing tall on others.
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According to the Dash website, Dash has a Instant Payment feature, Private Payment uses a decentralized open-source network by thousands of users spread across the world. I think Dash has a good concept and is the best choice for investments with bitcoin and ethereum.
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Dash is included in the top ranking Altcoin, and also proved able to survive in the market. The fierce competition of the top-ranked altcoin might get rid of the dash to choose from. But actually Crypto price changes are difficult to guess, it is not wrong to make Dash as one of the coins that are worth investing.
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Dash owns a public and transparent algorithm for all of the supplies that exist on the system. It is open source software, and since it is open source, it can be edited by anyone. that's why we can completely trust it
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Dash is created based on distributed computer systems worldwide. That means that no intermediary organization or government is in total control.
Miners are rewarded with Dash every time they find a "block of transactions". It is essentially the same as Bitcoin but has a number of enhancements aimed at solving Bitcoin's problems.
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Dash is created based on distributed computer systems worldwide. That means that no intermediary organization or government is in total control. And of course it is also a good investment
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Yeah. Dash is unique and it was one of the best like 2-3 years ago but i agree that somehow it has lost its place significantly and new coins seem to be taking over for now but personally i think that it is still a good hold.
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dash ensures users' independence, safety and independence at the forefront thanks to its decentralized network using advanced encryption. That's why I think investing in dash is a good one
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Dash has good value and good future also. In my opinion it is okay to invest on Dash if you have enough capital.
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Dash did impressive reaction from simplicity to elegant coin platform that allows the people to used high security at the same time can able them to used it in financial matters.
Slowly but surely chain reaction from Darkcoin to Dash coin. This is an enlightenment to crypto community.