DASH is the Bitcoin which has recently gained a lot of attention from the investors. It was 1st launched in 2014. Initially, it attracted a lot of investors. However, later on there was some loss of interest from the investors. It is now one of the main stream cryptocurrencies. It is also favorable with many traders who trade internationally. As a result, the volumes of the cryptocurrency are also increasing significantly. Currently, it has managed to rise above $ 1 billion in market cap. It is currently having a market cap of $ 3.8 billion. Also, the speed of transaction is pretty fast in this cryptocurrency.
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What is making DASH so popular?
When you look into the popularity of the cryptocurrency, there are always quite a few factors involved. One of the main reasons is that the numbers of investors are increasing. Investors are considering it to be a promising Litecoin. As a result, they are increasingly investing in this Bitcoin. Also, it has been around for quite some period of time. As a result, people are starting to trust it as well.
Usability:
Usability of this cryptocurrency is pretty easy. Moreover, it is highly versatile. As a result, even the users who are investing in cryptocurrencies for the 1st time are able to easily buy this coin. That is why it is gaining more and more traction. Also, it can be considered as good as digital cash. As a result, it is able to gain the attention from the investors on a consistent basis.
Lightning speed of transaction:
The speed of transaction is lightning fast. As a result, any transaction is concluded swiftly. This is much better than even the mainstream cryptocurrencies like Bitcoin. As a result, traders, as well as investors, are thinking of investing in this cryptocurrency. This is what is helping it gain more traction as well.
Liquidity:
Even though, it is listed on only limited cryptocurrency exchanges but the liquidity in these cryptocurrency exchanges is immense. This is the reason why it is gaining more and more traction.
As you can see, the reasons for investing in DASH are plenty. This is the reason why it is gaining more and more attention. Also, as the volumes increase, it will be easier for the users to buy it in greater quantity. This will also ensure that they are able to invest in the cryptocurrency without any issues. Tags: dash price prediction 2020, dash coin price prediction 2018, dash price prediction reddit, ethereum price prediction, bitcoin price prediction, ripple price prediction, litecoin prediction, dash predictions 2018
Dash (DASH): A Crypto Coin Success Story You need to be Part of
At a time when cryptocurrencies are being invented every hour, it is important to look back and see which ones stood the test of time and continues to give the user the best. Dash (DASH) is one of these coins that merge technology with simplicity. Since 2014, the coin has been improving day by day in terms of infrastructure, features and usability.
Since day one, Dash visibility in the market is unquestionable and its popularity has made it a household name to date. As an investor preferred choice coin, the platform is a cross border trade enabler that guarantees security. With self-governing model, the value of the coin and platform is based on the number of users. To enhance user experience, Dash is working on DIP 2, DIP 3 and DIP 4 proposal.
With analysts predicting growth of Altcoins in 2018 and beyond, Dash (DASH) is one step ahead. It has implemented major features that set it apart from other alternative coins. When new Altcoins are developing their infrastructures, Dash is improving on what it built earlier. Below are some pointers why Dash has a competitive edge over other Altcoins and mainstream cryptocurrencies.
Dash (DASH) Popularity Drivers
The popularity of Dash is based on their commitment to meet the consumer demands. For investors who look at market capitalization as a measure to stake on coins, Dash has already hit the 3 billion mark and still soldiering on. As of today, the coin stands at $3.72 billion market cap. Transaction speed has been a key driving force behind the coinâs growth. No investor has the time to queue for transactions to be confirmed.
The time for investing to experiment of for fun is over; it is all about what products and services a system offers and how trusted and secure it is. With a sizeable user base, Dash has been able to address user challenges on time; the user determines the direction the blockchain takes.
If you are a PayPal and Dash user, you will agree that Dash is user friendly and global. You can invest or use DASH coins anywhere across the globe unlike the competition that restricts adoption to select countries and States.
Dash (DASH) Lighting Speed
The blockchain technology has come from far, thanks to Bitcoinâs initial innovation. However, Bitcoin and mainstream coins missed the point; they forgot people are deserting the banks to look for alternative platforms that offered speedy transactions irrespective of the sender and receiver locations.
Dash (DASH) has come out tops through the lighting speed deployment in their network. This is what has enticed the masses into adoption of the platform. Everything from mining to transactions is seamless and transparent thanks to DashPay.
With confirmation speeds of up to 4 seconds through the InstaSend function no one would imagine going back to the Bitcoin dark days of waiting for minutes or even hours for a transaction to be confirmed. Whatâs more? This is combines with the PrivateSend function to ensure total privacy akin to a true blockchain payment system
The dash platform governance is one of a kind; it allows the users to have an upper hand in determining what developments should be implemented. This why 10% of the block rewards are channeled to infrastructure development giving the coin a upper lead against other Altcoins
Dash (DASH) Price Performance Check in the Market
The current price of Dash is a reflection of the developer team focus to the platform roadmap whilst accommodating the user demands. This has enabled the coin be listed on the biggest exchanges and being accepted in affiliate in the world. Dash offers the kind of liquidity that no investor can resist.
The dash Coin is trading at $468.42 with a 2.12%gain against the USD and 0.74% to the Bitcoin. The coin has shown strong signs of recovery but will take a while before smarting to the glory days of an all-time high of $1000. However, there are indications that this might be achieved before the end of the years.
With a few tweaks in the platform in the offing, Dash (DASH) should be the coin to buy and HODL at the moment. This explains why more investors are buying DASH especially with increased activity among all exchanges listing the coin. It is not the time to look at the price but to put into consideration the long term benefits of low transactions the system offers.
What is Dash Cryptocurrency?
Blockgeeks.com: Everyone who is anyone is talking about bitcoin and cryptocurrencies. However, while it is true that Bitcoin happens to be a fine example of a decentralized, peer-to-peer currency when it comes to privacy, it doesnât really match up now does it? Along with privacy, the transaction confirmation times in Bitcoin are SO high that it is extremely impractical for day-to-day transaction purposes.
If you pay the lowest possible transaction fees, then you will have to wait for a median time of 13 mins for your transaction to go through.Evan Duffield realized that this was extremely problematic and thought of a solution.
Evan Duffield came across Bitcoin in 2010 and was extremely impressed by the technology, However, he was not that enthused about the slow transaction speed and the lack of privacy.
He had numerous ideas on how to make Bitcoin function better but the Bitcoin core members would never allow him to do that since that would mean changing the coreâs code.
This is why, he decided to use the Core code and make his own cryptocurrency on January 18, 2014.
Dash was formerly called Xcoin which later on became âDarkCoinâ. It was eventually rebranded to Dash which is a portmanteau of âDigital Cashâ.
The Instamine Controversy.
Within the first two days of their launch, 1.9 million coins were mined, which ~10% of the total supply that will ever be issued. Evan Duffield said that this was because of a bug created when the Litecoin code was forked to create Dash which hampered the difficulty.
The problem was immediately resolved and Duffield proposed to solutions:
To relaunch the coin. An âairdropâ in order to make the initial distribution broader.
The community, however, overwhelmingly disapproved of both these proposals. The majority of the mined coins were distributed later on in exchanges for very low prices.
Before we do a deep dive and see what makes Dash so desirable, we should do a basic overview first.
Dash has a hard cap of 18 million coins, meaning there will only be 18 million Dash ever made. As of writing, there are ~7.85 million coins in circulation.
Each coin costs ~$697 and the total market cap is ~$5.4 billion.The average block mining time is 2.5 mins, which is 4 times faster than bitcoin (~10 mins block mining time).
Dash also has a variable block reward which decreases by 7.1% every year.
Now letâs look at some of the features of Dash that makes it really special.
Feature #1: Masternodes
Full nodes are servers running on a P2P network, that allow peers to use them to receive updates about the events on the network. As one can imagine, these nodes require significant upkeep and care. Because of these reasons, there hasnât been as significant an increase in the number of full nodes as there should have been. This significantly increases block propagation time.
Miners ideally want their newly found blocks to propagate across the network as quickly as possible. Every second delay increases the chance of some other miner wining the âblock raceâ and getting their blocks added to the chain before theirs.
One way to increase the amount of these full nodes is via the utilization of a better incentive system.
So, this is what the Dash whitepaper suggested:
âThese nodes are very important to the health of the network. They provide clients with the ability to synchronize and quick propagation of messages throughout the network. We propose adding a secondary network, known as the Dash Masternode network. These nodes will have high availability and provide a required level of service to the network in order to take part in the Masternode Reward Program.â
What exactly are Masternodes?
Masternodes are like the full nodes in the Bitcoin network, except that they must provide a particular service to the network and MUST have some sort of heavy investment in the system. To run a Masternode, one has to invest 1000 DASH.
So, now the question that one should ask is, why does a Masternode need to make that sort of an investment?
In return for their services, Masternodes get paid back in dividends on their investment. What this, in essence, does is that it incentivizes the Masternodes to work in best interests of the ecosystem. Dash was the first cryptocurrency to implement the Masternode model into its protocol.
The masternodes create a second tier network, following a Proof of service algorithm, and exists on top of the normal first tier network of miners.
This two-tier system creates a synergy between proof of service and proof of work mechanisms in the Dash network.
One a masternode is on, it is in charge of a certain set of functions like InstantSend and PrivateSend. They are also in charge of the governance.
Since running a masternode requires money and effort, in order to incentivize the node operators, they get rewarded for their efforts. The reward is usually 45% of the block reward. However, to get a more concrete answer, we will need to check out some parameters.
Reward System of the Masternodes
Since the number of Masternodes active in the DASH system keeps changing, the reward keeps fluctuating according to this formula:
(n/t)rb*a
So, the variables in this equation are as follows:
n is the number of Masternodes an operator controls
t is the total number of Masternodes
r is the current block reward (presently ~3.6 DASH)
b is blocks in an average day. For the Dash network this usually is 576.
a is the average Masternode payment (45% of the average block amount)
Return on investment for running a Masternode can be calculated as:
((n/t)r * ba*365) / 1000
Ordering of the Masternodes
Masternodes can be used to take care of important tasks in a fast and trustless way. To emphasise on the speed, one can select N pseudo random Masternodes from the network to perform tasks. These Masternodes can essentially accomplish the task without the whole network having to take part in it. This is a stark contrast from Bitcoin where every node must take part in the consensus.
The pseudo random selection is done by utilizing the following algorithm.
How Proof-of-Service Works
As you can guess, the Masternodes have a lot of power and influence in the system. As such, steps must be taken to make them as Byzantine Fault Tolerant as possible. This means that the system should operate smoothly even if some Masternodes perform below par.
A Masternode can run below par for chiefly two reasons. It is either run by negligent actors or it is run by malicious ones. Regardless, it can be disastrous for the ecosystem if the Masternodes arenât online or there are operating on the wrong block height.
So, to make sure that the Masternodes are working the way they should be, Dash utilizes proof-of-service.
To nullify the impact that malicious masternodes can have on the system, nodes must ping the rest of the network to ensure they remain active. The way the Masternode network goes about this is by selecting 2 quorums per block.
Quorum A checks the service of Quorum B block by block.
Quorum A are the closest nodes to the current block hash, while Quorum B are the furthest nodes from said hash.
Masternode A (1) checks Masternode B (rank 2300)
Masternode A (2) checks Masternode B (rank 2299)
Masternode A (3) checks Masternode B (rank 2298)
~1% of the network is checked each block which means that the entire network is checked 6 times a day. The nodes are selected randomly via the Quorum system in order to keep the system trustless. Each node is allowed six violations before it is deactivated.
So, imagine Alice is a malicious actor and wants to pollute the Dash ecosystem. She will need to be selected six times in a row to successfully violate the system. If not, then the system will cancel out all previous violations. The only way to get selected 6 times in a row is for Alice to get more masternodes, however, we have seen that in order to do that, she will need to stake her own money (1000 Dash per masternode).
Feature #2: PrivateSend
In short, PrivateSend maintains fungibility by swapping coins among users to break the traceable history of the coins.
Now, letâs look at the long version.
Before we begin to understand how âPrivateSendâ works, we must understand the concept of âCoinJoinâ.
What is CoinJoin?
CoinJoin is an anonymization method proposed for bitcoin transactions by Gregory Maxwell. It is based on this idea: âWhen you want to make a payment, find someone else who also wants to make a payment and make a joint payment together.â
So, what is fungible and what is non-fungible?
Suppose you borrowed $20 from a friend. If you return the money to him with ANOTHER $20 bill, then it is perfectly fine. In fact, you can even return the money to them in the form of 1 $10 bill and 2 $5 bills. It is still fine. The dollar has fungible properties (not all the time though).
However, if you were to borrow someoneâs car for the weekend and come back and give them some other car in return, then that person will probably punch on the face. In fact, if you went away with a red Impala and came back with another red Impala then even that is not a done deal. Cars, in this example, are a non-fungible asset.
So, what is the deal with fungibility when it comes to cryptocurrency?
Letâs look at bitcoin for example. Bitcoin prides itself in being an open ledger and an open book. But what it also means is that everyone can see the transactions in it and more importantly, everyone can see the trail of that transaction. What this basically means is that suppose you own a bitcoin which once was used in some illegal transaction eg. buying drugs, it would forever be imprinted in the transaction detail. What this in essence does is that it âtaintsâ your bitcoin.
In certain bitcoin service providers and exchanges, these âtaintedâ coins will never be worth as much as âcleanâ coins. This kills fungibility and is one of the most often-usecriticismssm against bitcoin. After all, why should you suffer if one of the previous owners of your bitcoin used it to make some illegal purchases?
While CoinJoin is a brilliant solution to the fungibility question, it does have lots of weaknesses.
