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    What is Dash in a cryptocurrency world?

    With over 4800 merchants and services, over 90 exchanges or brokers and transactions that take less than 1 second to complete[1], Dash is one of the more established currencies on the cryptocurrency market.

    With a current market capitalisation of $807.48 million and ranked at 15 in the cryptocurrency market, Dash is a digital currency that is based on many of the foundations of Bitcoin – the first cryptocurrency to be widely accepted and embraced by the market.  

    Dash – which stands for ‘Digital Cash’ - works like physical cash, there is no wait time or lag and very little fees unlike many other currencies available[2].

    [1] https://www.dash.org

    [2] https://www.weusecoins.com/what-is-dash/

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    Where does Dash come from?

    Dash was launched in 2014 and was previously called Dark Coin and was created to improve a range of shortcomings of Bitcoin. 

    The currency works to increase efficiency, speed and autonomy. In addition, Amanda Johnson, the spokeswoman of Dash, said the coin’s target audience “is for the kind of people who are not interested in cryptocurrency”. This is largely due to its versatility, flexibility and universal appeal[1].

    What are the features of Dash?

     

    Dash was launched in 2014 and was previously called Dark Coin and was created to improve a range of shortcomings of Bitcoin.

    The currency works to increase efficiency, speed and autonomy. In addition, Amanda Johnson, the spokeswoman of Dash, said the coin’s target audience “is for the kind of people who are not interested in cryptocurrency”. This is largely due to its versatility, flexibility and universal appeal[1].

    What are the features of Dash?

    Dash has a self-funded structure, with 10% of all mined coins being sent to the business itself to fund product development, marketing and customer support. Therefore, they are running a sustainable and viable business model that has a revenue source.

    This structure allows Dash to charge minimal transaction fees to consumers/holders of the currency making their potential application as a ‘full-blown transaction-based currency’ all the more likely.

    The coin has incorporated InstantSend, which facilitates instant transactions as well as PrivateSend, which increases the anonymity to the transaction’s users make.

    Finally, when changes are made to the currency, they are done so on a consensus of the users or a vote. This allows user-led thinking to be engrained into the culture of the coin and the future of the business.

    [1] https://coinswitch.co/info/dash/what-is-dash

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    Overall performance of Dash

    Like all cryptocurrencies, Dash was in for a wild ride between 2017 and now, with the current price sitting at $141.01 and a market capitalisation of $1,140,644,304[1] as at March 25th, 2019, it started 2017 at AUD $14.12 and ended the year at AUD $2080.13[2].

    It can be said that the performance is most certainly pegged to that of the major currencies, however, Dash is positioning itself as previously mentioned as the coin, “for those who are not interested in cryptocurrency” – ease of use, speed of transaction and access. 

    For them to achieve this feat, there is an underlying need for the currency to hold its value and not fluctuate as has been seen in the past, as a meal could cost a user over 100 times what they paid a month ago, if the past performance of Dash is anything to go on.

    With a solid business model that is well funded and aimed to focus on mass-market appeal, the positioning of the Dash coin could be a masterstroke for future adoption levels. While only time will tell for now the 15th biggest currency is well on the way to establishing itself as more than a speculative instrument.

    [1] https://coinmarketcap.com/all/views/all/

    [2] https://www.coingecko.com/en/coins/dash

    For the full breakdown on Cryptocurrency check out our article: Cryptocurrency – The rise, fall and future

     

    We welcome you to give our team a call to discuss your investment goals and objectives.

    You can call Walker Capital Australia on +61 2 8076 2210, and we’ll see how we can help you achieve your investment goals.