Review on Dash by Danh Huỳnh Ngọc Công
Can Dash be the new king?
Dash is an example of a excellent cryptocurrency for private payment. It is fast, cheap, private, advanced, decentralized and fancy on the internet at the same time. With great economics and great technologies, Dash is definitely a good holdings for everybody who love blockchain industry.
Updated 5 years ago
Rating changed from 5 to 3
Positive point: - There are big problems with the nodes of Dash. The first problems were stated in the review. The second is that it requires 1000 DASH to become a node who will receive rewards when they confirm the transactions. The rich will get richer and the network become somehow centralized by this.
- Their roadmap has not been updated for the years after 2019
Pros
- - Decentralization is what Dash can ensure. On Dash network, there are Masternodes whose IP are known by the public. These Masternodes cannot be forfeit as they have to show the proof that they are holding at least 1000 DASH. They offer services to other users on the blockchain and receive rewards for their contributions in a fixed percentage. Decisions for developments are made through voting
- - When the decentralization is ensured, the security is ensured, too. Dash is now one of the most difficult blockchain to perform double spending attacks. Every hour of the attack costs the hacker thousands of dollars which is not so profitable
- - With the integration of InstantSend technology, it takes only four seconds to execute a transactions so Dash is very suitable for real life commerce
- - Even if it is micro-payment or massive payment, transaction fees are always very moderate compared to the fee of the current fiat credit cards or banks. The fees can be adjusted so that transactions can be proceeded faster and more private.
- - The fungibility of Dash coins is guaranteed with the implementation of PrivateSend, breaking down the origin of every transaction and hide it away from the public. This function is optional and can be enabled if users pay extra fee
- - The max supply of Dash is low and fixed. The coin is definitely deflationary and its price will increase tremendously in the future with excellent economies behind it
- - It gives a lot of rewards to the community that contributes to its developments so there are a lot of supporters for this project
- - The foundation behind it does many marketing strategies that attract the attention of the world. They are usually very solid and successful
- - Dash is trusted and used for many daily transactions as many merchants accept Dash for payments. The mass adoption is a strong point of Dash
- - It has partnered with many organizations for both investment opportunities and mass adoption
Cons
- - It is rumored that the core team of Dash Foudation is holding a large number of Dash so the price can be manipulated anytime
- - If one masternode is hijacked or becomes a malicious one, users identities can be leaked
- - There are any famous competitors on the market such as Monero, Zcash, or Byteocoin
