Cryptocurrency
DASH-ing Into The Future (DASH)
[Photo: Active.com + Dash Logo]
The date is January 1st, 2017 and Dash is valued at $11.76 according to Coinmarketcap.com. One year later, Dash is trading at $842 despite all the market corrections that have happened since November, 2017. That is a percentage increase of 7,059%. If I were to mention it’s peak value of $1,619 on December 21st, that is percentage increase of 13,667%.
It is with these numbers that I’d like to proclaim Dash as one of the few Cryptocurrencies that could be up for a repeat performance in 2018.
The beauty of it is that you do not hear much about the coin. In my case, I was introduced to the coin by finding it on the online exchange called cex.io. Back then it was around $300 and I was busy flirting with Bitcoin to ever notice the silent coin called Dash doing back-flips in the background.
But silent no more! Dash has been noticed by yours truly!
So what is Dash?
According to their website, Dash is a cryptocurrency with a a decentralized system of governance to manage, fund, maintain and expand the project.
What does this mean?
It means the guys working on Dash do it for the sake of the project. In simple terms, they are Not For Profit. This explains why plenty of people, myself included, had not really heard about Dash till we met it on exchanges and observed that its value was growing at a Dashing Speed!
In the case of Dash, miners are rewarded for securing the blockchain, and masternodes are rewarded for validating, storing and serving the blockchain to users.
According to their website, Masternodes represent a new layer of network servers that work in highly secure clusters called quorums to provide a variety of decentralized services, like instant transactions, privacy and governance, while eliminating the threat of low-cost network attacks.
And it is these masternodes that make transactions on its network to go faster than the Dashing speed of 2.5 minutes as per this reddit post. The masternodes do this using a service called InstantSend.
2.5 minutes as a standard speed is a tad bit faster when you compare this with Ethereum which has a transaction speed of 4.49 minutes. More so, when you remember Ethereum transaction speed is affected by any new app that launches Kitties and Puppies for sale. During such instances of Kitty excitement in the Ethereum network, transactions can last upto 6 hours.
The only coin that can beat Dash in speed is Ripple. But we all know that XRP is the Usain Bolt of Transaction speed.
On top of relatively faster speeds compared to Ethereum, Dash boasts ultimate encryption. Its developers claim that you can send anonymous transactions with the cryptocurrency through its PrivateSend feature.
So what does this mean for Verge Coin (XVG)?
I am sure it means nothing since Dash does not market this aspect of their coin as well as XVG is doing.
To add to the above, Dash has a transaction fee of around $0.10.
And…Dash has a cap of 18 million coins that will be mined up until 2300.
So, let us recap on what we have on Dash.
- Fast transaction speeds that can be made faster using InstantSend
- Option of going incognito mode when sending Dash payments by using PrivateSend
- Only 18 Million coins to be mined
- The project is run by a Not For Profit organization
- Dash has had a 7,059% increase in a year
- Low transaction fee of $0.10
- …Which I forgot to mention, is a downloadable Dash wallet on their website
In a nutshell, with Dash, you get a hybrid of Ripple in terms of low transaction fees and speed; Verge (XVG) in terms of privacy; 3 million less coins to be minded than Bitcoin; a Not for Profit like Stellar (XLM); and massive gains in one year similar to Ethereum.
Therefore, it is safe to conclude that Dash will indeed be Dashing into the Future henceforth.
And using the 7,000% price increment in 2017, we could find Dash trading at $59,782 by the end of 2018? Is this even possible for a coin?
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