Dash (DASH) – Most altcoins or cryptocurrencies which came out took some time to break through and become popular after being launched. Many stayed out of the limelight becoming almost unheard of even to this day and slowly dissolving into oblivion. This was not the case for Dash as it became an instant hit with the masses. Dash was officially started in 2014 and from there on, it attracted a large volume of steady investors. Dash became an immediate part of the prevailing cryptocurrency market and many investors and traders became instantly attached to it.
Not only did Dash become accepted in such a short span of time, it became famous and its market growth is steadily increasing as each year passes. Many even became dumbfounded as to why Dash gained so much attention so fast. Even though Dash is relatively a new player, it has already joined the Club of the US$1 billion market cap and to date has a US $4 billion market capitalization value. Similar to Litecoin, Dash pounds on its ability to process transactions fast. Aside from speed factor, there are many other reasons which make it the choice of many investors and traders today.
Investing is crucial and key points should be observed
There are many types of investors in the market. Some study the market well to which they base their decisions on while others cling on to a certain cryptocurrency they believe in, perhaps judging solely just by their gut feel. Others more are just into it for the trend and making experiments along the way trying to see if cryptocurrency trading or investment is for them. A good investor knows that a cryptocurrency with a good number of followers is more likely to succeed for the long haul. Dash is a good example of an altcoin with a good following which has surpassed its rivals it started out with many times over.
In terms of speed, Dash is known to allow miners to acquire a coin in perhaps only a day or two. This lightning speed achievement in the cryptocurrency world is one of the reasons why Dash has become so popular with investors and traders alike. The speed factor in delivering or processing transactions is one of the benchmarks investors look for in the cryptocurrency trading or investment. Time is gold as they say and fast transactions mean cutting costs almost from any standpoint in the business or financial world.
An important factor Dash has which assures enthusiasts of speedy transactions would be its Instasend and Private send feature. Aside from very fast and instant processing, this special feature ensures a form of secure anonymity in the blockchain platform it uses.
Evan Duffield is the creator of Dash and he encountered Bitcoin in the year 2010. Although he was very impressed with Bitcoin’s blockchain technology, he saw several points which he thinks need further if not major improvements. Those factors were Bitcoin’s transaction speed, transaction cost and lack of privacy. At first, he wanted to improve Bitcoin’s platform itself which was not made possible due to being altered by Bitcoin’s core members. What he did instead was to make use of Bitcoin’s core code itself and applied the upgrades he wanted for his own platform. By the 18th of January in 2014, Xcoin was born, a name of what was to become the popular Dash we know today.
Garnering a different target audience by clever marketing
As counter-intuitive as it may sound, Amanda Johnson, the chosen spokesperson for Dash declared that its target audience is those people who are not interested in cryptocurrency at all. By doing so, Dash has acquired a new market aside from existing traders and investors at other cryptocurrencies who were convinced that Dash is a new and better alternative. Dash has become the cryptocurrency favourite of the masses and arguably has an appeal rivalled only by that of Bitcoin itself. In its short existence, Dash has undergone several transitions in a quest for its true identity. At its birth, Dash started out as Xcoin aside from other names after that before becoming Darkcoin and eventually Dash; a name which prevailed which is an acronym for “digital cash”.
Dash is a familiar element at online exchange platforms and the trading community. It also widely accepted by many online stores which sells everything from books, clothes, jewellery, electronics, digital media and more. A key factor which makes Dash a favourite with these sectors is the instant execution of transactions made with no risk on fund transfers.
Trading at just below the US$500 mark at the time of writing, Dash is considered as a cheap and reasonable alternative to other cryptocurrencies with skyrocketing prices. When Bitcoin’s price went down after it’s historic peak, the event furthermore convinced the cryptocurrency market to search for better investment or trading options. One of the strongest candidates for this option is Dash.
As the crypto market continuously moves towards adapting altcoins, the popularity of Dash further increases and its mark in the world of cryptocurrencies become even more relevant. Even new investors find Dash very attractive not only due to the effectivity and speed of its platform but the reasonable price as well. A lot of new investors would prefer to acquire a cryptocurrency at just the “few hundred dollars” price range as compared to the other big players which are priced at several thousand dollars each.
Dash is another product of an occurrence known as “Leapfrogging”. By definition, Leapfrogging is when any entity sets off from a platform of a previous technology or system, therefore, having a better starting point. This would mean that not only that precious time and money is saved by skipping the early development stages, but previous errors and failures are already known and therefore solved ahead of time. It’s founder, Evan Duffield learned well from both the success and shortcomings of Bitcoin itself and used that same knowledge to his advantage in developing Dash.
Dash is ranked as being 12th in the cryptocurrency market and its massive volume of $114,545,000 is nothing short of monumental. Many financial analysts in the cryptocurrency world say that Dash may perhaps be the ultimate coin of the future. With high liquidity, very fast transactions, a secure system and reasonably priced, Dash is successfully conquering the market in a dash.