Filtering through the mass of cryptocurrencies on the market today isn’t easy, so help in any context is always welcome. To help unpack the top coins, Crypto Briefing has released a recent series of reports. The latest crypto under the spotlight was Dash (DASH). Split into two parts –initiation and update – the report gave Dash a B rating, which means development is roughly in line with its original roadmap.
In practice, a B rating sounds promising if you’re an investor. However, before you actually go online and buy DASH securely, it’s important to have a bit more of an insight into the state of the project. Indeed, when you look closely at the report and what’s actually happening around the project, you’ll notice that it hasn’t all been smooth sailing for this crypto. From a technical standpoint, the Dash blockchain – and therefore the DASH coin – have the potential to usurp Bitcoin (BTC). Although some would argue it’s not quite there yet, Dash was designed to offer a faster, more anonymous way to pay than Bitcoin.
Solid Foundations Mean a Bright Future
When Evan Duffield stopped working on Bitcoin because of theoretical differences, he used the blockchain’s core code to create Dash. The benefits of this are obvious. Firstly, Bitcoin was the original peer-to-peer payment system and, despite some believing it’s now outdated, it continues to dominate the industry. Secondly, we know that Bitcoin works and can stand the test of time. Yes, it’s only been active for the best part of a decade, but that’s significantly longer than any other blockchain out there. So, even if the developers at Dash have done nothing else, the network’s foundations are solid.
However, the developers have done something. In fact, the reason Dash is bidding to replace fiat and become the payment system of the future is that it allows funds to be transferred privately and quickly. As well as being inherently anonymous, users can choose to activate the Private Send feature. This option is based on the service offered by CoinJoin and, basically, mixes transactions.
Doing this makes it almost impossible for someone to identify an individual transaction and, therefore, sender/receiver. Another feature Dash has added is InstantSend. Although it costs slightly more per transaction, this feature ensures a payment is completed within 1.5 seconds. That not only makes it faster than Bitcoin, it makes it fast enough that users could use it in real-world situations such as buying something from a shop.
People Are Already Using DASH
Looking beyond the fundamentals of Dash, the project is starting to gain traction on a global scale. According to Crypto Briefing’s report, there are now 3,600 merchants accepting DASH payments. What’s more, the coin has shown it can offer a stable payment solution for those in unstable economies. Following Venezuela’s financial troubles in early 2018, Dash Core Group CEO Ryan Taylor said the South American country had become a hub for DASH.
“Earlier this year, Venezuela became our number two market even ahead of China and Russia, which are of course huge into cryptocurrency right now,” Taylor told Business Insider.
Because hyperinflation was threatening to crush local businesses, people have turned to DASH as a savings and payment method. However, there have been some bumps along the way. Although minor, the release of new features such as Evolution (designed to make transactions even faster) has encountered slight delays. Perhaps even more damaging to the current price of DASH is the lack of media attention it’s received. Compared to Bitcoin, Ethereum (ETC) and the Ripple network, Dash hasn’t received nearly as much coverage inside or outside of the industry.
Public’s Perception is an Insider’s Gain
In a market when prices are currently driven by public perception, this has caused DASH price charts to plateau in recent months. What’s more, it means people are aware of its current state or future potential. Of course, this can and will change. What’s more, it should be good news for those that are aware of Dash. Although it’s far from a finished product, it is a project that can easily make crypto payments a reality for the general public.
When you combine that with the fact that the current price is low enough to offer scope for growth in the coming years, now could be a good time to buy DASH. A B rating right now is probably fair when all things are considered. However, with a few tweaks and Dash could easily become an A rated blockchain. If that happens, it will no doubt become a threat for any of the top five cryptos on the market today.
*Information in this article should not be taken as investment advice.
Source: thebitcoinnews.com Read more here!