Dash keeps soaring to new heights! Yesterday it went over $500, and it keeps going! Since yesterday, its ATH is $590 but, unfortunately, it didn’t break the record today, as the price slightly fell, to a bit over $560. Let’s take a look at 6 reasons why Dash is so hot right now.
1. It knows where it’s headed!
Dash is clearly a goal-oriented cryptocurrency. The name Dash comes from ‘digital cash’ and is being developed as a payment network that might replace current payment processors (such as PayPal) in the near future. The community knows exactly what they’re building and for whom and as a result faster development is achieved. The decision process is based on a simple question: “Will it make Dash a better or worse payment method?”
2. Democracy in practice
An innovative governance system is a big advantage of Dash. The community has pioneered the idea of having an on-chain voting system, that allows users to vote on how the network should evolve. Decisions can reach conclusions quickly and move on with development. That’s how the block increase decision was made.
Cryptocurrencies are often obsessed with ideology, or are overly politicised. That’s not true of Dash. Dash is a business, rather than an open-source project. It builds its product based on consumer demands and not ideological principles, which lead to cryptocurrency hard forks.
4. Experienced leader
Ryan Taylor, leader of the Dash core team, is an experienced guy. Before cryptocurrencies, Taylor did research for the payment industry in hedge fund companies. During this time he learnt how the payment industry works, how to use leverage, and which companies in this industry will fail and why. Such a leader will allow Dash to develop in the right direction.
5. Well-thought upgrades
Dash has just upgraded its network! The update increases the block size to 2MB whilst reducing transaction costs tenfold is a drastic improvement. Since this cryptocurrency aims to become the best payment processor, reducing transaction cost is essential. Consider this from the third world countries perspective: people can’t afford $1 transaction fees charged by the Bitcoin network. With Dash, that fee could be less than a penny.
6. Developers are incentivised to do their best
Did you know that 10% of newly mined Dash is transferred to the Dash treasury? Using the on-chain voting system, people can submit proposals for work they would to do improve the network. If a proposal is accepted, the user is paid in Dash for the work done. This creates an incentive for developers to create the best solution possible.
What are your opinions on Dash?