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Dash Review Report

January 16, 2020      Trade Dog

 

Dash Price $65.30 USD
Dash ROI > 9000%
Market Rank #21
Market Cap $604,898,198 USD
24 Hour Volume $599,142,821 USD
Circulating Supply 9,263,717 DASH
Total Supply 9,263,717 DASH
Max Supply 18,900,000 DASH
All-Time High $1,642.22 USD
All Time Low $0.213899 USD

 

Project Overview

Dash is a decentralized & autonomous organization that acts as a “treasury system” to fund developments. 10% of the block rewards go to the “treasury”, in order to pay for development projects submitted from the community, where Master-Nodes have voted to decide which projects get approved.

Dash or Digital Cash was originally released as XCoin (XCO) on the 18th of January 2014. Later, on February 28, the name was changed to Darkcoin, which further went on to get rebranded into Dash (DASH), on the 25th of March 2015.

Dash came into existence as a fork of Bitcoin and hence it had a very similar code structure, like that of Bitcoin. With continuous developments and ever-growing developer community, Dash has turned into a worthy alternative to Bitcoin, with primarily focuses on “privacy”, “faster transactions”, and to ultimately make digital cash accessible and easy to use. The biggest USP of Dash is that it allows the transacting parties to remain anonymous, very similar to cash transactions. Dash utilizes a 2-tier network, of which, the first tier is similar to Bitcoin where miners create blocks. While the second tier consists of “Master Nodes”, which require a 1000 DASH as collateral, to perform specific governance functions such as PrivateSend and InstantSend.

What problems does Dash address?

  1. Instant Transactions–  Bitcoin has a significant disadvantage over its biggest competitor, the credit cards. While processing point-of-sale transactions, credit cards can have nearly instantaneous authorization of payment, whereas to get finality in a Bitcoin transaction, one must wait for blockchain confirmation to occur. Dash transactions are almost instantly confirmed by the Masternodes network & hence payments are received almost instantly by the other party, thanks to the InstantX technology. This is a great improvement on Bitcoin’s system, where confirmations take much longer because all the work is done by the miners.
  2. Privacy in Transactions – Dash has made anonymity transactions possible by making them untraceable. Dash does this through a mixing protocol utilizing an innovative decentralized network of servers called Masternodes, avoiding the need for a trusted third party that could compromise the integrity of the system.
  3. Decentralized Governance– Dash has self-sustainable decentralized governance. While Masternodes are incentivized and can govern the blockchain with 1 vote per Masternode, the Dash blockchain is also self-funded. A portion of each block—currently 10%–is allocated to the Network Development and Promotion Budget. This means Dash developers and promoters receive payments for their contributions, unlike other similar coins where contributions are voluntary and un-incentivized.
  4. Low-cost Transactions– One of the major challenges for any crypto user is the high transaction fees that they have to pay sometimes because the block is so congested that the only way to get your transaction processed is to pay a higher fee. On the other hand transaction fees for Dash is very low, usually even free. Dash’s seven-day moving average for fees is $0.0011 as of 9-January-2020, which is almost 100 times less than Bitcoin transaction fee.

Dash Features since its inception in 2014

  • Two-tier network with incentivized nodes and decentralized project governance (Masternodes)
  • Instantly settled payments (InstantSend)
  • Instantly immutable blockchain (ChainLocks)
  • Optional privacy (PrivateSend)
  • Ability to buy goods at thousands of merchants worldwide

Partnerships and Collaborations

  1. Dash and VegaWallet Sign Agreement to Serve Cannabis Enterprises- Revamp Legal Marijuana Liquidity

Dash, one of the largest digital currencies in the market, and VegaWallet will be working together in order to implement new applications and utility-related to Dash’s services. VegaWallet is also the first wallet that integrates BitGo’s multi-sig Dash feature with InstaSend transactions.

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With this partnership, the legal cannabis industry will be interacting with the cryptocurrency market. According to Bradley Zastrow, Global Head of Business Development at Dash Core Group explained that the goal of VegaWallet is to create payment solutions for the legal cannabis industry. This is why they are now joining forces with Dash to support underbanked businesses.

With this agreement, Dash will be gaining a new market interested in purchasing Dash, The market is valued at $10 billion. With just a small part of these funds moving to Dash, the digital currency will already be benefited.

  1. Dash and Bitcart, CryptoWoo, Cryptobuyer

Three separate partnerships seeing Dash further integrate itself as a currency for everyday payments. Gift card operator BitCart, payments gateway CryptoWoo and Venezuelan exchange Cryptobuyer have collaborated to use Dash as a means of transactions.

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This partnership will allow Dash to reach new markets by allowing users to collect coins as they move around cities, and because they can now use that currency, this will open up a new engagement model and user experience.

      1. Singapore-based crypto exchange Pionex has listed popular cryptocurrency Dash.

Dash will be available for trading against Bitcoin and Tether (USDT), including trading via Pionex’s five trading bots built into the exchange. These include grid-trading bots that allow traders to create a high and low range to trade within, called the “trading channel”, and thus profit from the market movements within that range. Pionex also makes DCA (Dollar Cost Averaging) bots available so users can automatically buy at specific intervals in the pursuit of averaging their purchase and sell price and thus mitigate extreme market movements.

    2. Growing travel options for Dash strengthen its “crypto tourism” use case

Alternative Airlines represents the latest integration expanding options for Dash users to pay for travel. In addition to industry staple CheapAir, Travala integrated Dash for booking lodging last year and was announced as the official travel partner of Dash Core Group in July, adding a Dash-back discount. XcelTrip similarly added Dash in September of this year, as did major Spanish travel site Destinia a month later for select flights.

    3. Cubobit Launches RemeZaZa Dash-Powered Remittance Platform for Mexico

Mexican cryptocurrency exchange Cubobit has debuted RemeZaZa, a Dash-powered remittance platform enabling fast remittance transfers to Mexico. The creation of RemeZaZa represents significant progress in Dash’s expansion into the Latin American remittance market. According to Roel Castaño, head of Dash Mexico, which brokered the partnership, remittances are a significant portion of the Mexican economy, and Dash’s entry into this market is critical:

Adoption

Dash recently has been gaining adoption in developing countries. For example, in Venezuela. There are undoubtedly a lot of problems in Venezuela, and the local fiat currency is going down big time. Many Venezuelans have started to look for alternatives to send money abroad, and one of those alternatives is Dash.

Besides Venezuela, of course, Dash is hoping to gain more adoptions in both developing and developed countries.

  1. Dash is accepted at over 4,900 merchants globally, accessible via 700+ ATMs and 90+ exchanges worldwide
  2. A-Bey Foundation announced a-Pay, a payment system that lets the cryptocurrency community use its assets for daily payments via credit card integrations, Dash is one of the accepted currencies
  3. Dash is now available on Alternative Airlines, an air travel booking platform connecting over 650 airlines worldwide. Alternative Airlines also claims to be the UK’s fastest-growing travel agency Crypto buyer, a popular Latin America-focused exchange and merchant point-of-sale system, has now partnered with Dash Text to bring simple SMS cryptocurrency exchanges to their merchant solutions.
  4. Bitsa Debuts Bitsa Young Dash Debit Card for Teenager
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Competition Analysis

Dash is faster and more scalable than all of its competitors.

Out of all the competitors, DASH has built its high usability among its users and the community.

Catering to the scaling problems faced by the competitors, DASH addresses these downtimes and hassles effectively.

DASH Bitcoin CASH Monero Bitcoin
Average Trading volume $261,105,840 USD $2,141,523,344 USD $63,792,761 USD $26,654,658,854 USD
Price $51.78 USD $236.70 USD $0.003651 USD $0.718176 USD
Rank 24 5 10 1
Consensus algorithm PoW PoW(Partial Hash Inversion) CryptoNight (PoW) PoW
Market Cap $483,146,563 USD $4,309,689,125 USD $1,023,396,768 USD $143,997,866,536 USD
Token Type COIN COIN COIN COIN
Community

Twitter

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Reddit

Medium

Facebook

 

315.6K

2,101

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2,114

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319.9 k

5719

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1M

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Team

Ryan Taylor(CEO)– He holds his desk at DASH since April 2017; a graduate of Columbia University’s MBA Program; has a long history in the financial service industry first with McKinsey and later an owner of his own equity research firm.

Evan Duffield(Strategic Advisor)– Formerly the Creator of DASH and now a strategic advisor.

Bob Caroll(CTO)– Priorly a CTO in Everspring for 5 years; has a successful entrepreneurial past

Glenn Austin(CFO)– was associated with Morgan Stanley for 5 years;  later Global Key Account Manager at UBS for 6 years.

The team is very strong and has proven experience in delivering highly effective innovations. They have displayed through professionalism, time and again, with their continuous focus on improving Dash, rather than engaging in trolling contributors of other projects or engaging in Reddit fights. But there has been a lot of criticism on the Business Development part of the core team, as it has spent substantial time and resources on relationship building with exchanges and other businesses, rather than channelling resources toward actual usage of the currency in the real world. Moreover, the Business Development team has not been performing well at establishing proper communication channels with Masternode networks. The initiative from Dash to form a Dash Community is very innovative and is working very well. People like Amanda Johnson are doing exceptional work of on-boarding people onto the Dash community so that they understand how Dash works and how should it be used. Having said that, one minor drawback is that their team lacks any superstar name in their advisory boards, which might inspire confidence on future directions of the project.

Roadmap

Dash had developed a roadmap keeping the Dash Evolution platform as one of their primary key focus. The Roadmap details a phased implementation of its landmark product, a decentralized payments platform– designed to be completely secure, merchant and consumer-friendly, globally accessible, instant, available on any computer or device, and with fees far cheaper than competing payment methods. The user capacity will increase with each development stage. Dash plans to double the number of developers with each release. The developers will use each incremental release as a framework for more development. There are various new technologies needed to create such an experience, all of which will strengthen the infrastructure supporting the network to ensure it can handle the transaction loads and data storage needs of a mass market.

Correlation Vector

  Bitcoin Litecoin Bitcoin cash Monero Z-cash Ripple OST.Com
Dash 0.54 0.49 0.57 0.64 -0.65 0,24 0.51

Various studies and results have repeatedly reinstated the fact the portfolio investment is a better approach then a single-asset investment and any asset which helps in diversification have proved to be a vital investment in a volatile market. Dash Network has a low to medium correlation coefficient with some other crypto assets, hence making it a valuable portfolio component for a medium to long term investment. A diversified portfolio helps in reducing the losses in a down market. As the correlation vector says that Zcash and Dash are highly negatively correlated which tells us that Dash’s adoption is not majorly because of the private transactions feature, instead the business model is sustaining on other solutions offered by Dash.

Technical Analysis

On Daily Time frame DASHUSDT is showing possibilities for a Golden Cross to happen the market is getting accumulated for a major surge. The Elliott Corrective wave C=0.38A formed a strong support region around 50$ which also shows signs of possible market reversal for the next impulse wave cycle.

As of now (01/11/2020) the market pair is expected to give another 20% rise from the current price level and is expected to have a small correction after which it will pan out with a golden cross to give the surge.

Conclusion

Dash Evolution will dramatically improve the experience of using digital currency. Their aim is to make it consumer-friendly and to tear down the barriers to adoption for both merchants and consumers so that any person can use digital currency every day and for almost any purpose. Moreover, Evolution will be incredibly inexpensive, with no cross-border fees or restrictions. It will compete with PayPal and Venmo, and looks very ambitious if we look at the number of transactions they want to handle eventually.

Dash has strong fundamentals. It is fast, and its usability is scalable. The regulations in the crypto market might be a hurdle for the privacy feature of the coin but other features like low transaction fee have made its adoption rate very high. The future is decent for this coin, and TradeDog suggests a buy rating.

Disclaimer

This report has been compiled by TradeDOG Research. TradeDOG Research is an independent provider of research on cryptocurrency ICO’s. We have not been paid, nor mandated for this analysis report. The views expressed within this report are TradeDOG’s in its entirety. The contents of this report and its attached documents have been prepared without taking account of your objectives, financial situation or needs. Because of that you just ought to, before taking any action to accumulate or deal in, or follow a recommendation (if any) in respect of any of the financial products or information mentioned in or downloaded from or through this website, consult your own adviser to contemplate whether or not it’s applicable having reference to your own objectives, financial situation and needs. Whilst TradeDOG believes the information contained in this report is based on data that is taken into account to be reliable, its accuracy and completeness are not guaranteed and no assurance of accuracy or dependability is given or implicit and no responsibility for any loss or injury arising in any way for any representation, act or omission is accepted by TradeDOG or by any officer, agent or employee of TradeDOG or its related entities. TradeDog at all times reserves the right to at any time vary, without notice, the range of services offered by TradeDOG and its subsidiaries, and the terms under which such services are offered.

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