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      Dash Coin – Is it a good investment? - Stocks Telegraph

      By Muskan

      Published on

      August 26, 2021

      7:46 AM UTC

      Dash Coin – Is it a good investment? - Stocks Telegraph

      Dash has been one of the well performing cryptocurrencies in the weekly timeframe. The cryptocurrency is leading the price rally along with some other tokens. Dash has been on a strong uptrend since the beginning of July. Dash coin has been oscillating up and down with the uptrend being broken a couple of times but it resumed the uptrend every time. At the time of writing, the coin stands at a price level of $255.72. The price has increased by 2% in the daily timeframe while the trading volume has also been going upwards.

      Dash is one of the most well-known cryptocurrencies in the market. It stands at a rank of forty-nine in terms of size with a market capitalization of $2.61 billion. The market cap has also been going upwards with an increase of 2%. Despite the strong bullish momentum, Dash was not able to break its ATH of $1,642 established in 2018 during the bull run of 2021. 

      What is Dash? 

      The purpose of the network is to become a medium for everyday transactions. Dash is based on the technology of Bitcoin. However, it improves on the technology of Bitcoin to offer increased efficiency. The major difference between both the networks is that Dash employs a newer version X11 of Proof-of-Stake consensus mechanism while Bitcoin utilizes Proof-of-Work consensus. PoS is regarded to be more efficient than PoW as it is less energy intensive. 

      The methodology for handling transaction is also different – requiring less infrastructure. Dash is run by a subset of its users which are termed as Masternodes. Masternodes need to have a stake of at least 1,000 DASH to be considered. The mechanism of Masternodes solves the problem of scalability that plagues the king of the market – Bitcoin. Transactions are only required to be verified by the Masternodes – limiting the number of validators makes the system efficient.  

      What is the token’s price prediction? 

      Dash started off as the privacy coin version of Bitcoin. The cryptocurrency went by the name of Xcoin and then Darkcoin. The cryptocurrency was focused on privacy and anonymity but later rebranded to Dash. Immediately after its launch, Dash entered Venezuela’s financial ecosystem. It also funded a blockchain research lab with Arizona State University.  

      The network’s team has been highly active. Currently, Dash partnered with Horizen Global to create the first ever reward marketing blockchain. The future of the cryptocurrency is strong as the network has ambitious plans. According to the estimates of Wallet Investor, the cryptocurrency is expected to be operating at a price level of $350 in a year’s time while the five-year projection is at $655. Digital Coin Price’s estimate places the token at $359 by the end of the year and reach towards $863 by 2026. 

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