After staying still since early September, Dash has enjoyed a substantial career recently. As of November 12, the price of Dash soared from $310 to visit elevated heights above $800. At the time of publication, the currency is negotiated by $750.
This has been an extraordinary year for cryptocurrency, and it is tempting to attribute Dash’s rapid ascent to the speculative frenzy that has gripped the entire market. However, there are indications that something else may be driving Dash. Is it possible that we are seeing the first steps towards greater adoption?
Today, Dash and Uphold made a joint press release to announce the integration of the currency into the Uphold platform, which allows users to buy, send and sell digital coins using the Web or a mobile phone. According to the joint declaration, the new integration will allow 94% of the world’s population to use Dash.
Integration is live, and Uphold plans to add support for the InstantSend feature of Dash soon. InstantSend is an optional feature that is native to the Dash protocol. Users who send Dash using InstantSend have their transactions fully confirmed in just a few seconds, instead of minutes or hours.
Dash Core CEO Ryan Taylor wrote:
Uphold adds to the dash ecosystem the fastest and easiest method for everyday consumers to acquire dash. Dash already has integrated many of the world’s largest digital currency exchanges, but exchanges are generally intimidating for average users who are not accustomed to operating. Uphold makes transactions much simpler than an exchange, and admits users of most geographies.
Uphold’s global business development Director, Colin Luce, said:
We were eager to add Dash mainly because of the greater adoption and use cases in the real world. Dash’s organizational structure, with the main nodes and proposals and the Core Group, is a recipe for long-term success, especially at a time when the vast majority of the one hundred blockchains and coins remain mainly speculative.
2 MB Blocks
Developers knew that the momentum of Dash to incorporate the adoption is never lifted off the ground if the network no money could scale. While Bitcoin and Ethereum have begun to work on solutions of scaling out of the chain, Dash announced that he was seeking solutions of escalation in the string using larger blocks to be processed by the network of masternode fuelled Dash.
Last month, dash developers released version 12.2 of the Dash Core software, and when enough miners and Masternodes were updated, a 2 MB block increase was blocked. Today, the larger blocks were officially activated and Dash can now process twice the transactions per second. In the not too distant future, Dash will increase its block size again, to 5 MB.
Some argue that Dash cannot expect to compete against established giants such as Bitcoin and Ethereum, whose market capitalization dwarfs dash. However, others, like Max Keizer, believe that there is plenty of room for multiple cryptocurrency to survive. Keiser mentions:
Dash is emerging as the encrypted payment rail, while Bitcoin asserts itself as Gold 2.0. I suggest to those who are frustrated by the Bitcoin escalation debate to accept Dash payments and leave Bitcoin Core just to continue working on Gold 2.0.
Meanwhile, Taylor says:
Dash focuses on becoming the first digital currency capable of massive market adoption. We believe that our incentive infrastructure model offers a viable way to provide the capacity required to operate on a massive scale.
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