Cryptocurrencies are all the rage right now.
Everywhere, you see headlines with impressive thousands of percent gain for “coins” like Bitcoin. But what gives them value? When did you use Bitcoin?
The truth is that this is not realistic at the moment, mainly because of the amount of time it takes to complete a transaction. But there are other coins that can be effective as the number one cryptocurrency to make Bitcoin successful.
There is a lot to understand about the complexities of cryptocurrencies, but this article is more about exploring investment opportunities than explaining the science behind them.
A bubble in bitcoin?
One thing that is important to know is that the concept of “mining” is the very basis of cryptocurrency. This is how new bitcoins are created.
In general, “mining” through special software, solves a complex math problem and as a result is rewarded with new bitcoin. Then, the transaction is saved in the blockchain and those new bitcoins are officially introduced.
As more bitcoins become more prevalent, mining them becomes more complex and time consuming and less profitable. Thus, although about 80% of potential bitcoins are now in circulation, the latter will not be mined until 2140.
As most people know now, Bitcoin has seen a huge rally this year. In fact, it’s up about 1,200% compared to last year, making many people think it’s in the bubble.
The total value of Bitcoins in circulation is now over $ 150 billion. If Bitcoin is a company, it will be in the top 50 in the United States.
I personally believe that Bitcoin is much more valuable than any other cryptocurrency because it was the first mainstream broke although it is still important. It rarely gives anything to other currency developers to improve.
The good news is that if you think you missed the boat with Bitcoin, there are plenty of other cryptocurrencies out there. Of course, some are scandalous, but others have real potential.
I believe that one of them has a real, practical use called dash.
Dash: Digital cash
First, the dash is ahead of the game in terms of convenience. Right now, bitcoin transactions take an average of about 10 minutes to an hour. Dash is setting up as the primary cryptocurrency that can be instantly transferred (less than a second) within the party, making it even more practical when it comes to buying things online or at a store.
One of the interesting features of Dash is that 10% of the newly minted coins are given to Dash DAO (Decentralized Autonomous Agency). Simply put, DAO is Dash’s treasury. Priced at more than 600 per coin, it’s 4 4 million per month.
It is important to know that no other currency has such continuous funding. With this money Dash DAO can develop and market the currency.
Also, one can submit an idea for any project to increase the value of the dash. Since then, the project has received thousands of dash developer votes. Partnering with the store is an example of building Dash as an effective way to transact for their content.
Of course, these developers make money from the dash, so anything that benefits and promotes the currency will be tempting.
This creates a circular effect, where the value of the currency is appreciated because it is better financed and marketed, then the DAO makes more money and is able to market the dash more.
A breakthrough for Dash
To date, Dash can be used to purchase goods or services from more than 300 physical stores and more than 100 websites. But the progress could come from the cannabis industry.
Right now, banks are not allowed to do anything with cannabis transactions; Everything has to be cash. Sellers cannot even keep money from their bank in any bank.
Not only does this bring about the risk of snatching, but these companies have to pay for cash savings and transportation. Added early.
Being able to use Dash is huge for these vendors. It also means great things for the price of a dash.
The good news is it has already begun to progress. In April, Dash partnered with a digital payment system called Alt Thirty-Six, which has partnered with some of the country’s top dispensary business management software companies.
These software companies track transactions for hundreds of dispensaries and distribution services. This means that Dash users already have hundreds of ways to use the currency.
Since Dash officially became the payment method in the Alt Thirty Six on October 11, its price has increased by 118%. It’s only been a month and a half.
Just the beginning
With a market cap of just 8 4.8 billion compared to Bitcoin’s 6 156 billion, I believe Dash still has a lot more room to move forward.
The marijuana industry is just the beginning for Dash, but it’s great. In 2016, legal sales were around 7 7 billion. And an estimated $ 46 billion was sold on the black market.
And as more stores open and marijuana becomes legal, the legal number is expected to reach বিল 23 billion by 2021 and ৫০ 50 billion by 2026.
This is just the beginning for Dash again. Its unique instant transaction feature makes it an effective alternative to cash, giving it an edge over other cryptocurrencies such as Bitcoin.