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What is Dash?
Dash is a payment network and a cryptocurrency managed by the DAO Decentralised autonomous organisation. The Dao is managed by masternodes. Many of the services which Dash needs to grow are subcontracted to the Dash Core organisation which manages both Software and Business development. In addition, any individual can submit proposals to the Dash DAO.
Unfortunately, Dash has recently lost its place in the top 10 rank of cryptocurrencies by market cap.
Why is Dash no longer in the top 10?
The trend indicates that to be in the top 10, a crypto project needs to be a platform rather than a one trick pony.
A quick look at the current top 10:
- Bitcoin Soon to become a platform with Segwit, Schnorr Sigs, Lightning Network, Rootstock smart contracts, side chains and a host of other Blockchain services. These functionalities will allow third parties to build additional functionality to the bitcoin network making it a platform.
- Ripple (My understanding is – One trick pony)
- BCash (My understanding is – One trick pony)
- Ethereum Platform
- Cardano Platform
- NEM Platform
- Litecoin Platform: Will import most of BTC functionality so, it will eventually become a platform
- IOTA Platform
- Stellar Platform
In the near future, it is very easy to see other platforms such as Railblocks, NEO and EOS pushing past Dash moving her from 11 to 14.
There are two underlying forces which have pushed Dash outside of the top 10 pack
1. Competition from similar cryptocurrencies. (Bitcoin and Syscoin)
2. Dash’s scaling solution.
Competition from Bitcoin and Syscoin
Bitcoin vs Dash
Bitcoin will evolve from being Crypto Gold which expensive and slow to move around because of the fees and meme pool issues to becoming liquid Gold easy cheap and fast to move around.
Bitcoin 2.0 will be cheap, fast and potentially also anonymous (through anonymous lighting nodes and MubleWimble. These three functionalities currently are the USP (unique selling proposition) of Dash over Bitcoin. What happens when that USP erodes?
Syscoin vs Dash
The holy grail of cryptos is usability, Syscoin is creating a framework so merchants can sell in an efficient low-cost matter. They are building a decentralised Ebay market where users will be able to sell and buy products. Syscoin and Bitcoin will be accepted
BCash vs Dash
BCash seems to compete with Dash but it remains to be seen if BCash will survive in the long term. Given its many shortcomings such as the Asic Boost, higher inflation rate because of faster blocks, limited real scaling solution and non incentivised nodes.
Dash Scaling Issue
At this time, the scaling of Dash will be done through larger blocks, used in conjunction with DashDrive (through IPFS). The bigger blocks solution is the same solution which BCash is using Which has some serious implications.
Here is an interesting discussion on this topic: https://www.dash.org/forum/threads/bigger-blocks-the-right-path.24822/
Will Dash climb back into the Top 10?
There is a good chance of this happening because Dash Evolution will turn dash from just digital cash into a digital cash platform.
Dash: Digital Cash. vs Dash: Platform for digital cash services
A platform creates an open market for tools on which creative and driven individuals can create value.
This is why platforms grow exponentially, while one trick ponies lag behind. One trick ponies have only one utility which can offer value, while platforms can rely on the power of creativity of third parties to increase their value many times over.
Dash Evolution will turn Dash from simply Digital Cash to a Digital Cash platform because it provides a PayPal like service that others can use to create more utility and functionality.
Evolution the GUI is not Evolution the product. The Evolution GUI will call functions within an API which will control the Dash Blockchain and Dash Drive.
Dash Evolution is the foundation of this vision.
Some Key features of Dash Evolution
- A users home on the blockchain unique handle
- Single Authentication (2FA system) (Which can be used on other sites such as Google Login)
- Joint Accounts
- Friendly private keys
- Private Accounts which will receive and send private transactions.
- Public Accounts
- Invite users to create a wallet while paying their (micro) handle registration fee.
- Send private messages
- Friend connections
- Dash savings account (Decentralised Masternode Shares)
- Descriptions of transactions
- Aliases instead of address strings
- Automated payments
- Search for Products
- Search by Merchants
- Product payment integrations
- Merchant Apps
The above are some of the key features that Dash evolution will deliver. These features can then be integrated into other services easily such as p2p lending, credit rating, merchant payments, automated tax calculations, invoice financing, mortgages, lending circles, grouped consumer purchases, startup funding, crowdsourcing, charity etc …
Dash was $14 in January 2017 and $1240 in January 2018, the market has recognised the stored momentum behind Dash. In parallel with the release of Dash Evolution, a B2B and B2C marketing campaign will entice merchants to be added on the Dash platform and for users to create accounts. An integration team will be set up in order to make this process seamless. The more merchants and users join the platform, the bigger the momentum and exponential growth. Looking forward to future developments in Dash.