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Reasons Why New Investors Are Gravitating Towards Dash

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Dash

While the other big guns of the cryptocurrency market are fiercely struggling with their stability and continuous downward trend, the ingenious cryptocurrency of Dash seems to have it the other way around. With time, this digital currency is gradually becoming one of the most potential cryptocurrencies in the world. With regular developmental updates and implementation of new facilities, this cryptocurrency is becoming even more germane and profitable to the traders across the globe.

In the beginning, Dash was one of the most underrated Altcoins of the world being overshadowed by Bitcoin majorly. But since the major two debacles of Bitcoin, the scenario has been changing piecemeal. The fact that Bitcoin hasn’t recovered completely for these disastrous events and a considerable number of speculators and traders are genuinely worried about its volatility, has provided Dash the opportunity to grab the attention of the trading mass.

In the current cryptocurrency market where approximately eighteen hundred legitimate cryptocurrencies are vying for the top spot, Dash has secured a number of very strong and loyal users who have put their trust in this coin. Here, a few aspects of this coin will be discussed to highlight the fact why this currency is a probable contender to lead the currency chart this year.

The Internal Mechanism of Dash:

Dash was first introduced in the cryptocurrency market as XCoin (XCO) on January 18, 2014. The name was officially changed into Darkcoin during March of 2015 and finally, the name Dash was finalized as a portmanteau of Digital Cash. It is a peer-to-peer open source cryptocurrency whose unique budgeting system makes it a DAO (Decentralised Autonomous Organization). Below you will find some unique aspects of this coin’s internal architecture:

a. Masternodes: Unlike Bitcoin, Dash is a two-tier network where one tier is controlled by the miners and the other one consists of several masternodes that perform various functions such as InstantSend, PrivateSend, and different governance functions. These masternodes have been proved to be extremely effective to prevent Sybil attacks.

b. PrivateSend Function: The PrivateSend function is one of the main reasons behind its popularity. It is mainly a CoinJoin based coin mixing service. The function uses multiple masternodes instead of a single website for a transaction. This service allows the users to transfer payments in a much quicker speed.

c. InstantSend: It is another very unique feature that distinguishes Dash from Bitcoin. Form its nomenclature, it is fairly clear that InstantSend helps carry out transactions instantly. In older coins like Bitcoin, transaction speed is one of the major predicaments which Dash seems to have resolved quite easily through these two functions.

The Irrefutable Advantages of Using Dash:

Dash offers many advantages to its users which include:

  1. Transparency and Convenience: Scaling the network is a major problem that many cryptocurrencies face, including Bitcoin. The efficient development team of Dash has managed to overcome both scaling and consensus problems with their efficacy. Dash conducts a voting system for their holders to figure out which new features need to be implemented in order to provide a better decentralised currency. According to their roadmap, Dash team endeavours to offer a transaction rate of 4000 or more per second. They have already made huge progress in this case by implementing PrivateSend and InstantSend functions.
  2. Constant Development and Funding: Dash has a monthly budget of 2.5 million USD for technical developments. This alone proves the fact how dedicated the Dash development team is for making this coin more advantageous to the currency holders. For making such developments, this currency follows a highly organised path. This coin splits 90% of the new Dash coins to among the miners and stakeholders and uses the rest for its development. The area of technical modification is also decided through a voting system. Because of this system, the Dash ecosystem doesn’t require any outside influence like crowdfunds for its own funding.
  3. Anonymity and Speed: There are a significant number of coins which offer anonymity to their users during transaction. Unfortunately, many of those coins have been proved to be vulnerable under certain circumstances. Dash, on the other hand offers an impregnable privacy security system that makes its transaction untraceable. So far, experts are unsuccessful to find out a possible way to trace Dash transactions. Also, Dash’s speed has always been its most important and popular feature since its introduction. Compared to Bitcoin’s insignificant number of 7 transactions per second, Dash offers nearly 4000 transactions per second at a much lower price.
  4. Decentralised Nature: Dash offers a much more decentralized platform to its user because of its governance system. This currency has three major groups namely Dash Core, Dash Labs, and Dash Force, funded by the main network. These three groups work independently and allow the traders to use a decentralized currency system spread across every part of the world.

Current Scenario:

Dash currently holds the thirteenth position on Coinmarket cap with a market capitalization of approximately 3 billion USD and a whopping price of circa $365 (as per the data on 16th April 2018). According to its chart, the movement of its price is currently upward.

Final Thoughts:

In addition to the features it has been already providing, Dash’s development team is currently opting for mass adoption by engaging in partnerships with various business organizations. This way, the usage of this coin would be increased as well as diversified. This currency has already become one of the most convenient and stable currencies of the world. Therefore, with this mass adoption, Dash is very likely to topple some big guns and lead the currency chart by the end of this year.

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

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of John via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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