Dash (DASH) current price is $90.14 with a marketcap of $784.82 M. Its price is -2.29% down in last 24 hours.
- Dash (DASH)
- Live Price $90.14
24h % -2.29%
- Market Cap$784.82 M
- Volume$1.11 B
- Available Supply8.71 M DASH
More Info About Coin
Many people are looking for the next evolution of cryptocurrency, in part because the major players such as Bitcoin and Ethereum are becoming hackneyed and not very exciting. But their advantage for many investors is that their technical side is understood without requiring a degree in Math or Computer Science.
The DASH cryptocurrency has a technical side that actually puts the crypto in cryptocurrency. While this review won’t dumb down things to the point of being useless, it will sidestep a lot of the technical and yes, important, features of DASH. You may pursue those features in more detail at your own peril.
Starting with the basic math numbers, DASH has been assigned a hard cap of just 18 million coins, of which 44% have already been sold. The average block mining time comes in at about 2.5 minutes, 4 times faster than Bitcoin. According to the DASH website, the first coin was produced in January, 2014.
Speaking of the DASH website, I found it a bit troubling that there are a number of videos that are used to explain the inner workings of the cryptocurrency, but I digress.
Where DASH differs from Bitcoin is in its governance model, the way that choices are made within the ecosystem of the cryptocurrency. Bitcoin uses the more familiar consensus model, while DASH implements something called the masternode, which has owners. This is a bit complex, so we will break it down into its smaller components.
The Smaller Picture
There are three subcomponents of the masternode: PrivateSend, InstantSend, and InstantX.
PrivateSend – This is a method used to keep the source of the transaction anonymous by mixing a number of transactions at the same time. An external observer of the transaction will not be able to know exactly who is sending the money nor how much.
InstantSend – Here is where the masternode concept has the greatest impact. In order for a transaction to be approved, a quorum of masternode owners must approve the transaction; the minimum number of voters is currently at 6. The transaction is then put in a holding state until it is confirmed for acceptance. This second step is one of the major departures from Bitcoin blockchain transactions.
InstantX – This technology is said to allow a single transaction to be conducted in as little as 4 seconds. The sender is required to have the recipient whitelisted in their system, and you are required to have a maximum of 1000 DASH in order to perform the transaction.
Each of these smaller components requires relatively complex code to be executed, and all are critical to the execution of the masternode.
Keep in mind that he concept behind the masternode is determining what transactions are allowed to be executed in the DASH ecosystem. Should any one of these three components fail, the privacy and the security of the transaction can be compromised.
In order to earn a masternode position you have to have a minimum investment of 1000 DASH tokens. This concept intends to promote actual investors instead of cryptocurrency miners, so it promotes active involvement in the community and directly rewards higher investment but giving more voting power to average, non-technical investors.
The most important criticism of the masternode model of governance is that the masternode can be attacked and its security compromised by the well-known DDoS (Distributed Denial of Service) attack. Once the masternode unravels, the entire DASH ecosystem collapses.
Another problem is the masternode itself. To own a masternode you need to retain 1000 DASH tokens, which are then taken out of general circulation. There are an estimated 4,000 masternodes currently present on the DASH ecosystem, which means 4 million DASH tokens are out of circulation to the general public.
This will remain true until someone decides to give up their voting rights, which as we will see in a moment, can cause community chaos in a heartbeat. The underlying question is of the estimated 19 million DASH in circulation, what percentage will be removed from public consumption as the demand of buyers for voting rights increases.
There is a flip side to removing the 1000 DASH tokens per masternode from public purchase. The current 4 million coins being held is about 20 percent of the total available coins.
If these masternode holders decide for any reason they want to give up their voting rights, that puts back 4 million coins into the ecosystem. This would result in a major devaluation of DASH cryptocurrency.
Advocates for DASH maintain that in order to compete with Bitcoin a different system of governance must be developed to take the power away from the technicians and return it to the average investor – with the focus being on investors rather than miners.
But the 1000 DASH token requirement seems like a steep price to pay, especially with the potential volatility if a large number of masternode owners decide it is time to move on in a hurry. This event could potentially shift the voting power to a much smaller group of holders, essentially creating a centralized system that is exactly the opposite of what DASH intended, or for that matter, what any cryptocurrency intends.
Pros & Cons
|The token can be used(or is designed) to trade goods, unlike many other currencies that can only be used within their network.||Scalability problem: the block size is currently 2MB. This means only a small number of transactions can be processed per block.|
|Anonymous transactions||The PrivateSend service has some skeptical reviews and concerns|
|Has one of the lowest transaction fees||I can't think of any to be honest|
BCrypto Investment Tip
In my opinion Dash is one of the best coin to invest into short and long term. It has a transaction speed of only 2.5 minutes which is already faster than most of other currencies on the market. And now the Venezuelian government because of its economic problems is starting to use Dash as its currency which is just the beginning of the adoption of Dash. Another big thing that happened for Dash recently is its parnership with Kripto Mobile which is an American company that produces mobile phones which now come with the Dash ecosystem already in them.