Sometimes, all a digital currency needs are political disruptions in a country where it just struck a deal to become the agent of change in the financial sector. This is exactly the case for Dash which hit an all-time high price of $575 in the early hours of Wednesday morning. It climbed 20% against the dollar in 24 hours as investors scrambled to get a piece of the pie.
The reason behind the spike in price is mainly being linked to the ousting of long-standing Zimbabwean leader, Robert Mugabe which coincided with the inking of a deal that aims to use Dash to curb the country's ballooning inflation. Dash established Kuvacash in Zimbabwe which is a mobile wallet project that aims to develop a phone based cryptocurrency service that will bring financial stability to the African nation. This is one of the many factors that make investing in Dash a very lucrative move.
Brief history of Dash
Dash was initially released as Xcoin in 2014 and later changed to Darkcoin. In 2015, it rebranded to Dash, which is a combination of ‘digital' and ‘cash'. Its initial days were quite rough, having incorrectly allowed the mining of 1.9 million coins. These coins were distributed on cryptocurrency exchanges but at very low prices. After the initial hitches, the market became receptive and Dash has gone on to become one of the dominating currencies.
Dash is currently the fifth most valuable digital currency according to coinmarketscap.com. Its market capitalization currently stands at just over $4.4 billion with its price standing at $569. Investing in Dash is a great investment move because of the following reasons:
1. Ease of use
Mass adoption and acceptance of digital currencies have been hampered by the complexity of the technology behind them. Ease of use is however at the heart of the development of Dash. Setting up an account on the blockchain and making purchases with Dash whether via mobile or the web has been simplified to a basic level. This appeals to most new investors who are not tech enthusiasts, driving the demand of Dash higher which directly reflects on its price. Dash will release Evolution, their new platform towards the end of 2017 which is even easier to use.
This is a feature that is only available with Dash which enables the users to send and receive payments extremely fast. Formerly known as InstantX, this feature locks input into specific transactions which are then verified in the master node network by consensus. If any conflicting transactions or blocks are detected, they are rejected. This program solves the long-standing problem of double-spending but in a much shorter time as compared to all other digital currencies.
This feature means that you can pay for a meal in a restaurant with Dash in two seconds while it would take you almost an hour to pay with some currencies such as Bitcoin.
Digital currencies ride on their ability to accord anonymity to financial transactions. Dash is a pioneer in this field with PrivateSend. This program combines multiple identical inputs from different users into one transaction. This transaction has several outputs making it impossible to trace transactions ensuring the user gets maximum privacy.
4. Two tier operator network
This is yet another unique technology only utilized by Dash. While other currencies use a single tier network where miners perform all the work, Dash makes use of miners for such functions as block creation while another tier called masternodes take care of other functions such as PrivateSend and InstantSend.
This decentralization of functions makes Dash much more efficient than its peers. The masternodes and the miners split the block reward equally.
Dash is building on simplicity and ease of use to conquer the digital currency market. It has also introduced new features that enhance security, speed, and privacy. This will make it an attractive investment choice so investing in it now will earn an investor a great return.