The Theory of Evolution: Dash: Digital Cash
The birth of DASH dates back to the year 2014 when a noted American Crypto Expert Evan Duffield first introduced the DASH coin. Initially, as XCoin, it was a remake or branch of Litecoin to sustain parallelly but soon it was more popular as Darkcoin. This too became history when Duffield decided to route the implementation of this cryptocurrency for making cash payments and christened it as DASH i.e. Digital Cash!
Even though Duffield and his aggressive team-based Dash on the framework of the codebase as Bitcoin, DASH was meant to stand apart with distinctive features incorporated. The Asset underwent several changes before it finally proved its mettle at the exchange. Before we dig into the Dash price prediction, let us have a look at some of the unique features of Dash.
Table of Contents
Dash: Understanding the Concept
Times have changed today. Gone are the days when you needed to carry a wallet stuffed with those fiat papers and checking on them frequently so they don’t get stolen. Carrying digital money is way better than cash as it addresses the issue of storage, portability comfort, superfast and hassle-free transactions.
A next-gen payment method, DASH works on a p2p payments network and records all transactions flawlessly on the blockchain: a decentralized, distributed, public ledger.
Dash: How Do I Stand Apart?
Dash network houses Dash for building decentralized applications. The entire framework is based on two nodal elements: 1) Drive and 2) DAPI. These two transform the Dash P2P network into a cloud facilitating a smooth integration with their applications by developers.
Following a decentralized control system, DASH happens to be an age-old concept designed to create a Pandora or Treasury, funded by 10% of the block reward. This is a fusion between the collection of transaction fees and the recent minting of Dash given to miners for securing the blockchain. The voting system on project proposals acts as a catalyst to boost and engage with the overall network and further enhances the inclusion of numerous new projects. This is a major stride that Dash has taken for technological advancement and as a promotional initiative.
Innovative Technology
A plethora of innovations is available on the DASH network in governance like masternodes, treasury system, security (ChainLocks), usability (automatic InstantSend), and scalability (long-living masternode quorums).
Instantaneous Confirmation on Transactions
Transactions are processed on a rapid-fire basis and receipts thereof are sent instantly with no added cost. The Chainlock is highly innovative to make sure transaction security is not compromised. Transaction security and decentralization are not negotiated at any cost. Hence, speed and fungibility are guaranteed. All this comes at no extra cost with complete transparency and safety.
Masternodes
A unique advantage of DASH is the conceptualization of masternode. These are nodes which are entirely different in their function compared to a conventional system of a p2p network wherein nodes share data and network resource without any discrimination. As a rare contribution to the payment network, DASH has worked wonders. It has gone one step ahead and added a second layer to provide better operation in exchange for more compensation. This second layer is what makes DASH the most secure industry-leading feature facilitating instant transaction settlement and usernames.
Long-Living Masternode Quorums
As the name suggests, these are Dash’s long-living masternode quorums (LLMQs) which contribute effectively by staying active for a long time as subsets on the entire node list. Formed by means of a distributed key generation protocol and implement threshold signing of consensus-related messages for features like InstantSend and ChainLocks.
Authentication
InstantSend is a feature enabled on the DASH payment network in which LLMQs ensure the submitted transaction is genuine and valid. If yes, it would store the inputs to that specific transaction and disseminate this information to the network, ensuring the inclusion of transactions in mined blocks and barring any disqualified transaction within this sphere.
ChainLocks
This feature has to do with the acceptance of payments. This works parallelly with InstantSend and builds an ecosystem wherein payments can be instantaneously accepted and all without jeopardizing “Blockchain Reorganization Events” in as little as 1.5 seconds. The platform’s average transaction time is 2.5 seconds — around 4 times faster than Bitcoin.
However, in order to avoid blockchain reorganization, multiple confirmations are available and so indirectly a risky transaction or payment is averred. However, this requires time and expertise.
Proof-of-Service
The Masternodes compulsorily have to partake in LLMQs, else they are liable to a penalty. For this intended purpose, a Proof of Service (PoSe) scoring system is introduced so as to encourage masternodes to accord this facility. In the event of nodes not participating in quorums, they are excluded.
As informed by a spokesperson at DASH Innovative Team, “A high level of security is assured as DASH is equipped with more than 4500 servers deployed worldwide facilitating instant transactions anytime anywhere.“
Mass Adoption via Cellular network:
The presence of the Dash Payment network on Cellular devices has been a strong catalyst in enabling user-friendly and has a scalable digital currency platform perfectly. Users are massively benefitted via this system as they can set up accounts, add contacts, and make pay-per-click purchases through websites or mobile apps.
As stated by Coinpedia media personnel, “This revolutionary step creates humongous expanse for development of DASH community helping them to quickly scale up the ladder.”
Decentralized Cloud Storage
Internet comes with overridden scams and frauds. Hence storing your application in the safest and secure manner is a concern, that is addressed by the DASH network perfectly. The entire operation is protected by Dash’s consensus algorithm thereby guaranteeing data integrity.
Reduced Data Silos
As the data input is not governed by any specific regulator or centralized power on the DASH network, you can be assured of its reliability at all times for all stakeholders, be it customers, business partners, or investors.
Client Libraries
Whatever be the language, you have the accessibility and facility blended together on DASH to comprehend blockchain infrastructure. A large number of client libraries eliminate the typical complexities involved in the function of blockchain-based networks.
Instant Data Confirmation
As aforesaid, compared to other blockchain networks, data is stored and confirmed on the DASH consensus algorithm at a lightning speed. Creating a surreal user experience, this platform has the benefits of storage without the intervention of usual UX compromises.
DAPI
DAPI is an HTTP API exposing JSON-RPC and gRPC endpoints. Through these endpoints, developers can send and retrieve application data, as well as query the Dash blockchain.
Developers enjoy the same access and security of a full node with DAPI without any added cost and maintenance overheads. The conventional APIs have tremendous baggage of complaints including power failure but with DAPI clients are able to link varied instances via a client library. The source for both DAPI and dapi-client is available on GitHub.
Drive
Decentralized Storage as aforesaid creates a facility of data contracting so that they can be stored for consensus-based verification and validation of user-created data. Here a data contract is created comprising an application, similar to creating a schema for a document-oriented database like MongoDB. Post verification and authentication against the contract, application data is loaded on the drive.
No wonder all these features add to the popularity of DASH. For instance, in Venezuela already more than 800 merchants have started actively using DASH for payments. Thanks to these features, Dash has become increasingly popular around the world. Also, Zimbabwean start-up KuvaCash, which gained funds on Dash’s decentralized funding system, is also using DASH to offer an alternative to its country’s national currency. In America, DASH has funded Alt Thirty-Six, a platform that facilitates payments for the US cannabis industry. In London lot, many ATMs are in operation hosting DASH. It seems the DASH coin is going to totally transform the global horizon of payments.
In the Dash Laboratory: Technical Analysis
Like other cryptocurrencies, the DASH coin too is largely dependent on market movement and is highly vulnerable. Experts vary in their opinion and price prediction about the promises DASH holds in the years to come. Hence, the growth rate of the DASH coin makes it highly unpredictable. However, it can not be totally ruled out that the DASH price may show consistent growth over time.
The vision of DASH stands tall and firm. Leaving footprints on the technological and functional eco-space, DASH nurtures hope along with convenience making the lives of the users worldwide easy. However, there remain multitudinal factors that act as determining factors for the price of DASH. There are factors apart from the above that govern the price of DASH objectively, viz.:
- Weightage average Indicators: 50-day, 100-day, and 200-day moving averages are among the most commonly used indicators to identify important resistance and support levels. Any DASH/USD price escalations happening above these averages will show strong momentum. Traders also like to use the RSI and Fibonacci retracement level indicators to try and ascertain the future DASH forecast in terms of current price movements.
- Crypto Volatility Index (CVIX): This index studies volatility and price fluctuations, weighing the deviations. The amount of dynamism or fluctuations determines the performance of DASH. Too much of DASH fluctuations generate fear in the minds of investors and hinder them from purchase.
- Relative Strength Index (RSI): This stresses on the bullish recovery from bearing levels near the oversold. RSI reaches the overbought, the buy orders are bound to increase, creating more volume that will support the update in the near term.
Associated DASH: The crypto assets which are linked with DASH coin but do not perform well on the exchange independently rule the price of DASH too. - Relationship between Supply and Demand which is an age-old phenomenon of contradictory relation of demand and supply works for DASH coin. The more the holders start buying the token on a huge scale, no wonder the DASH price shall go upbringing the supply may come down.
- Security Concerns: These are bottlenecks which when the act for negative publicity may bring the price down due to mass selling.
The popularity of dApps: If the demand for decentralized apps goes up, as it has during the phase of Pandemic, in the future too it shall hold good for this digital asset too. - Apart from CVIX and other aforesaid indicators, the trading volume of DASH is also an indicator to understand its price dynamics and the forecast it holds. Traders come to market with aspirations that the cryptocurrency they hold will promise great returns for the crypto market. However, due to the pandemic investors are compelled to look for alternative options and even hedging.
Currently, the price of $286, as shown by DASH, is attractive and opportunistic, but it can shoot to better heights. Evidently, this is the most appropriate time to profit in the Dash market by exploiting your skills as a swing trader. In order to understand the price predictions of DASH better, it would be good to dig deeper into the past chronicle of DASH.
Dash Price: The Past Chronicle
In order to make the most accurate Dash predictions and technical analysis, one of the most important steps is to analyze Dash’s past performance. Ever since the currency entered the market in 2014, the DASH price has undergone a number of dramatic fluctuations. Let us have a quick look at some of the historic Dash predictions.
Shortly after DASH made an appearance on Exchange in 2014, its first big surge came and between April and May, its price rose from $5.847417 to $15.9679 — a considerable jump that reflected a huge amount of early investor interest. Its growth was much slower for the rest of 2014, 2015, and 2016, with its price generally hovering between $15 and $25.
Unlike many other cryptos, the DASH price saw extreme growth for almost the entirety of 2017. In January, its price was $43.82. By September, it had climbed up to an incredible $50.49, but even that was too pale in comparison to the growth spurt that awaited it. As the DASH market as a whole started to experience levels of enormous inflation, Dash certainly wasn’t going to be left behind. Between October and December 2017, its price leaped up from $50.50 to $61.14 — before dropping back down to $47.26 one year later in December 2018.
Surprisingly in the Covid-19 phase, when all other currencies demonstrated a dismal performance, Dash has exhibited a drastic change fluctuating between $75 to $90. Hence DASH gained investor confidence and saw a great surge in momentum. A lot of transactions transpired and money changed hands. At the time of writing this article, DASH stood at $327. Going by the pandemic phase, this can be counted as a phenomenal victory.