Here are the Reasons Why Cryptocurrency Dash Shames Bitcoin

Cryptocurrencies are a hot topic right now.

You see headlines about “coins”, like bitcoin, that boast impressive gains of over a thousand percent. What gives them value? Have you ever used Bitcoin?

It’s simply not feasible right now due to the time required to process a transaction. Many other coins could be viable alternatives to bitcoin. Other coins can succeed in bitcoin as the No. 1 cryptocurrency.

Although there are many things to know about cryptocurrencies, this article is more focused on finding investment opportunities than science.

 A Bubble in Bitcoin? 

It is crucial to understand the concept of “mining”. It is what cryptocurrencies are built on and is how new bitcoins are created.

The “miner” is simply someone who solves complex maths problems using special software. They receive new bitcoins in return. Once the transaction has been saved to the blockchain, those new bitcoins become officially in circulation.

Mining bitcoins has become more complicated and more time-consuming as more of them are in circulation. Even though approximately 80% of the possible bitcoins are in circulation, the last one will not be mined until 2140, making mining less profitable.

Most people are aware that bitcoin has experienced a huge rally this year. It’s actually up around 1,200% in the last year, leading many to believe it’s in a bubble.

Bitcoins are worth more than $150 billion. Bitcoin would be a company if it were a company.

I believe bitcoin is the only cryptocurrency that is more valuable than other currencies because it is the first to break into the mainstream. It is still an important fact. At the very least, it gives other coin developers something they can improve upon.

Even if you feel you have missed the boat on bitcoin, there are many other cryptocurrencies available. Some are frauds, while others offer real potential.

Dash is one of my favorites.

 Dash: Digital Cash 

In terms of convenience, Dash is first. Bitcoin transactions can be completed in between 10 and an hour, on average. Dash is aiming to become the first cryptocurrency that can be instantly transferred (in less than a second) between two parties. This will make it easier to buy things online and in stores.

Dash DAO (decentralized autonomous organization) is one of its most attractive features. 10% of newly mined coins go to it. The DAO is basically the Dash treasury. It can be used at a monthly cost of $4 million, with a current price of over $600 per coin.

It is important to note that no other coin can have this level of continuous funding. The Dash DAO is able to develop and market the currency with this money.

Anyone can also submit an idea to increase the Dash’s value. One example is partnering with retailers to make Dash a viable way for them to transact their goods. The project is then voted upon by thousands of Dash developers.

These developers make money with Dash, so any promotion that benefits the currency is enticing.

This creates a loop effect where the currency appreciates because it is better funded and marketed. The DAO then makes more money and can market Dash more.

Breakthrough in Dash

Dash is currently available in over 300 stores and on over 100 websites for purchasing goods or services. The marijuana industry could be the catalyst for this breakthrough.

Banks are currently not permitted to handle marijuana transactions. All transactions must be made in cash. Vendors are not allowed to deposit money earned from sales in banks.

This increases the chance of being robbed and means that these companies will have to pay for cash storage and transportation; it adds up quickly.

These vendors would benefit enormously from being able to use Dash; it would be a massive boost for Dash’s price.

It has made progress already, which is a good thing. Dash has partnered with Alt Thirty-Six, a digital payment system that Dash developed in April. It also has partnerships with several of the most prominent dispensary management software companies in the nation.

These software companies hold track of transactions for hundreds of dispensaries and delivery service providers. Dash users have access to hundreds of different ways to use the currency.

Dash had seen a 118% increase in price since October 11, when it became an Alt Thirty-Six payment method. Only after a month and a half.

 The Beginning 

Dash’s market cap is only $4.8 billion, compared to bitcoin’s $156 trillion. I believe that Dash has a lot of potential for growth going forward.

Dash’s marijuana industry is only the beginning. But it’s a huge one. Legal sales reached $7 billion in 2016. An additional $46 billion was purchased on the black market.

As more marijuana stores open and more states legalize it, the legal amount is expected to rise to $23 billion in 2021 and $50 billion in 2026.

It is only the beginning of Dash. Dash’s unique instant transaction feature makes it a cash alternative and gives it an advantage over another cryptocurrency like bitcoin.