That’s why the cryptocurrency Dash puts Bitcoin to shame

Cryptocurrencies are currently raging.

Everywhere you see titles with impressive thousands of percent earnings for “coins” like bitcoin. But what gives them value? When have you ever used bitcoin?

The truth is that at the moment this is not practical, mainly due to the time required to complete a transaction. But there are other coins that are emerging as viable candidates for bitcoin success as the number one cryptocurrency.

There is much to understand about the intricacies of cryptocurrencies, but this article is more about finding an investment opportunity than explaining the science behind it.

A balloon in bitcoin?

One thing that is important to know is the concept of “yield”. This is the very basis of cryptocurrencies. This is how new bitcoins are made.

In simple words, the “miner” solves a complex mathematical problem through special software and as a result is rewarded with new bitcoins. The transaction is then stored in the blockchain and these new bitcoins are officially in circulation.

As more bitcoins are in circulation, their extraction becomes more complex and time consuming and less profitable. So, although about 80% of possible bitcoins are currently in circulation, the latter will be mined by 2140.

As most people know so far, this year Bitcoin saw a giant rally. In fact, it’s about 1200% in the last year, which makes many people think it’s in a bubble.

The total value of bitcoins in circulation is now over $ 150 billion. If bitcoin was a company, it would be in the top 50 largest in the United States.

I personally believe that the only reason bitcoin is so much more valuable than any other cryptocurrency is that it is the first time it has penetrated the mainstream. This is still important. At the very least, it gives other coin developers something to improve on.

The good thing is that even if you think you missed the bitcoin boat, there are many other cryptocurrencies out there. Of course, some are scams, but others have real potential.

One of those that I believe has real, practical use is called Dash.

Dash: Digital Cash

First, Dash is ahead of the game in terms of convenience. Bitcoin transactions currently take an average of about 10 minutes to an hour. Dash aims to be the main cryptocurrency that can be transferred instantly (in less than a second) between parties, making it much more practical when it comes to buying things online or in a store.

One of the most attractive features of Dash is that 10% of the newly minted coins are given to Dash DAO (decentralized autonomous organization). Simply put, DAO is Dash’s treasure trove. At a current price of over $ 600 per coin, that’s $ 4 million a month that she can use.

It is important to know that no other coin has this kind of ongoing funding. With this money Dash DAO can develop and market the currency.

Also, anyone can come up with an idea for a project to improve the value of Dash. The project was then voted on by thousands of Dash developers. An example of this would be partnering with stores to make Dash a viable means of transactions for their goods.

Of course, these developers make money from Dash, so anything that takes advantage of and promotes the currency will be tempting.

This creates a circular effect in which the currency evaluates the price because it is better financed and marketed, then DAO makes more money and is able to offer Dash even more.

Dash break

So far, Dash can be used in over 300 physical stores and over 100 websites to purchase goods or services. But the breakthrough for him could come from the marijuana industry.

Currently, banks have no right to have anything to do with marijuana transactions; everything must be done in cash. Vendors can’t even invest money from their sales in a bank.

This not only carries the risk of robbery, but these companies have to pay for storage and transportation in cash. This is added quickly.

The ability to use Dash would be huge for these providers. That would mean great things for the price of Dash.

The good news is that it has already begun to progress. In April, Dash partnered with a digital payment system called Alt Thirty Six, which has partnerships with some of the country’s leading dispensary business management companies.

These software companies track transactions for hundreds of dispensaries and delivery services. This means that Dash users already have hundreds of ways to use the currency.

Since Dash officially became a payment method for Alt Thirty Six on October 11, its price has risen by 118%. It’s only a month and a half later.

Just the beginning

With a market capitalization of just $ 4.8 billion compared to $ 156 billion bitcoins, I believe Dash still has plenty of room to move forward.

The marijuana industry is just the beginning of Dash, but it’s great. In 2016, legal sales were about $ 7 billion. Another $ 46 billion has been sold on the black market.

And as more stores open and marijuana becomes legal in more states, that legal number is expected to be $ 23 billion by 2021 and $ 50 billion by 2026.

Again, this is just the beginning of Dash. Its unique instant transaction feature makes it a viable alternative to cash, giving it an edge over other cryptocurrencies such as bitcoin.