Dash (DASH): Project Review, Recent Developments, Future Events, Community

Dash (DASH): Project Review, Recent Developments, Future Events, Community
  • Privacy-focused Dash (DASH) has outperformed the crypto market, gaining 21% through the crypto crash of last week.
  • Dash has also celebrated its 62nd Masternode, making it one of the most secured blockchain protocols on the market.
  • Matrixport and BingX have also integrated DASH into their respective platforms, broadening the scope of usage of the token.
  • According to the DCG, the final platform release candidate will be ready to be deployed soon.

Project Review

Dash was created as an improvement to the first crypto, Bitcoin, with more focus on better privacy and faster transactions. The open-source blockchain and cryptocurrency offer a fast, cheap global payments network that is decentralized in nature.

Since its launch in 2014, Dash has transitioned into a protocol that can be used as cash, credit cards, or via PayPal for daily transactions. The network relies on Masternodes – a network of servers backed by DASH collateral to provide advanced services securely and governance.

Dash is the largest blockchain using the X-11 hashing algorithm (a modification of the proof-of-stake (PoS) algorithm). DASH, the native ecosystem token used for proposal voting and staking, plays an important role in the development and security of the network.

Social Media: Website | Twitter | GitHub | Discord | Reddit | YouTube | Telegram | LinkedIn

Recent Developments

Dash recently celebrated its 62nd Masternode, making it one of the most decentralized networks. The growing number of Masternodes is part of the reason why the Dash network has never been taken down with a 51% attack. 

On Thursday, November 24th, Matrixport, one of Asia’s biggest crypto financial service providers added DASH to its mobile app. Its users can now deposit, withdraw, and transfer DASH with it.

The announcement comes just weeks after the world’s leading social trading platform, BingX, announced that DASH has been added to its platform. According to BingX, the addition of DASH trading was due to “popular demand.”

Price Updates

Dash (DASH) has been a top three gainer in the choppy crypto market for three consecutive days. DASH is up by 21% in the last seven days, the third biggest top 100 gainer in the period.

The 7-day price chart for Dash (DASH). Source: CoinMarketCap

The massive rally helped the price of DASH shoot up from a low of $34 on Tuesday to as high as $43.07. However, the rally has cooled off, with Dash now trading at $40.81, while dropping 4.7% in the last 24 hours.

Dash is now ranked as the 72nd largest crypto project, with a market capitalization of $449.2 million.

Future Events

Dash Core Group (DCG), the team behind the project, has announced that it is close to the final platform release candidate. The release will improve the DashPay Web Extension, migrating the extension from Manifest V2 to Manifest V3.

The platform candidate will also make changes to the Dash protocol that will improve withdrawals and same block execution. The DCG will also rework the chain synchronization process (SPV) of the network.

The announcement comes after Dash Platform’s principal developer Anton Suprunchuk stated that the team had finished porting the protocol to the Rust programming language. When fully completed, Dash will become the first protocol with a fully decentralized HTTP API.

As part of Dash’s goal of enabling the everyday use of crypto, Dash will be giving a 25% ShopBack bonus for people who use the gift code ‘CRYPTOTUESDAY’ on the online store Shopping.io on Tuesday, November 29th.

On the Flipside

  • Although the DCG has recorded significant progress in the development of the platform, there is no clear timeline for the deployment of the project.

Community

As one of the oldest crypto projects, Dash has among the biggest and most supportive communities in the industry. Reacting to the performance of the DCG, @splawik21 wrote:

Clearly delighted about the strong performance of DASH, @Dash_Community shared:

The recent rally of DASH has seen @CoinDCX share their belief about the project, writing:

Why You Should Care

Dash has seen some of the most crypto adoptions thanks to its focus on real usability and adoption. With the Platform candidate nearing completion, Dash will look to improve the already solidly performing platform.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia