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Dash Has More Potential Than Bitcoin
Bitcoin

Dash Has More Potential Than Bitcoin

Today, we are going to discuss another cryptocurrency that has recently delivered more exciting returns than Bitcoin. Its name is Dash, which consists of an open source coin that is becoming known for offering a user-friendly and scalable system.

The most significant that we need to point out before anything else is that many new business partners selected Dash for creating their blockchain network. We believe that the easy functionalities offered by Dash were the main reason behind choosing this coin over other cryptocurrencies.

We could read on the website of the Dash that debit card providers, email providers, VPN providers, hosting providers, Casinos, Game programmers, web stores and precious metals sellers are accepting the use of Dash.

In our opinion, if all these business owners are trusting the system, it means that the project is serious and it should seduce clients, and coin holders.

Logo from https://coinjournal.net

Dash Logo from https://coinjournal.net

This demand from the part of companies seems to be pushing up the price of Dash in the market. The share price seemed to wake up in March 2017. From below $10, the coin spiked and touched the $150 resistance level in only a few months.

However, we needed to wait until June 2017 to see the coin price jump again to touch the level of $300. Coin holders should have received 100% returns in less than four months. But, the run did not stop there. In November 2017, the price of each unit took off again crossing easily the psychological level of $450 and reached $710.

Incredible home run returns, don’t you think?

But, there is more.

The amount of coins that changed hands recently was also very interesting. We could see that every time there was an increase in volume, the share price picked up.

It happened in June, July, September, and November, 2017.

Have a look at it:

One Year Chart for Dash

One Year Chart for Dash

There is another interesting fact to note. The last increase in the amount of coins exchanged at the end of November is also extraordinary, but we cannot see an increase in the price of each Dash. Readers should be very alert, as if the price does not continue increasing while the volume is doing so, it may mean that we are on a false signal. The price could fall.

We have seen a similar price pattern in the chart of Litecoin, wherein this price behaviour seems much more obvious.

Technology

Dash offers new features that are completely different from those of Bitcoin. First of all, Dash does not only use miners to perform network tasks. Other individuals called “Masternodes” are in charge of several governance activities like PrivateSend and InstantSend. The work and the reward is split between these two types of contributors. Miners and Masternodes both receive 45% of the block as reward. Remaining 10% goes to an account called “Treasury” that belongs to the dash system.

What’s PrivateSend?

PrivateSend is the way users can make transactions. It is structured so that several Masternodes collaborate in the transaction obtaining privacy for the sender and the receiver. The main idea is that identical inputs are introduced at the same time so that the transaction cannot be traced. This system makes each Dash unit fungible meaning that all coins are equal and cannot be distinguished. This is a great feature that Bitcoin does not offer, which, we believe, is seducing business owners.

What’s InstantSend?

InstantSend is the service provided by the network to do “near-instant transactions.” It is said to be faster than even Bitcoin since the double-spending problem that arises in this other coin does not exist here.

Demand And Offer

As mentioned, there are many merchants already involved in the network. But, there is more to be said on the side of the demand. The community seems to be quite large. There is large Dash Forum as well as a Reddit, Youtube, Twitter, Facebook discussions out there. We appreciate it, because, in our opinion, it shows that the coin is well known and there is enough demand to push up the Dash price.

On the development side, there seems to be a community of programmers willing to work for the network. GitHub users as well as programmers from JIRA are involved. We believe that the best way to assess the work of it is by looking at the large amount of Masternodes currently on the network; 4,732.

That’s not all.

The number of Masternodes has been increasing at a large pace. Have a look at it:

Number of MasterNodes from dash.org

Number of MasterNodes from dash.org

Conclusion

Currently trading with a market cap of $5.5 billion, DASH is an exciting story among cryptocurrencies. We believe that if the demand from freelancers and companies continues to increase, the price could creep up even more in the long term.

In the short term, in our opinion, readers will do best by using technical analysis to assess the future share price movements. Increases in price on low volume could indicate that the demand is very low, which could create short price declines. Be alert on it.

To sum up, there is a lot to like with Dash!

We will be updating our subscribers as soon as we know more. For the latest updates on DASH, sign up below!

Image courtesy of Duncan Rawlinson via Flickr

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

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Dash Has More Potential Than Bitcoin
2 Comments

2 Comments

  1. Sasha Macan

    December 2, 2017 at 4:35 pm

    Which VPN providers accept Dash? I am currently looking to subscribe on VPN and reading some user reviews on VPNMentor website and they offer great discounts for many VPNs. Does discounts and coupons are usable with Dash?

    • Jarrod

      December 3, 2017 at 12:40 pm

      VPN proviers:

      https://www.dash.org/merchants/

      Does discounts and coupons are usable with Dash? I didn’t read anything about it.

      Jarrod

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