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Dash DASH cryptocurrency (DASH) was created by software developer Evan Duffield in 2014 as "XCoin", an open source fork of Bitcoin protocol. His vision was to facilitate fast anonymous transactions on the blockchain.
XCoin was renamed "DarkCoin" for a few months in the launch to highlight its privacy-focused approach to Bitcoin.
At a time when the cryptocurrencies were being examined by the general population to be promoters of illegitimate transactions and to finance the dark network, this did not prove to be a good PR. The cryptocurrency was finally renamed as Dash a year later.
Dash was one of the first decentralized autonomous organizations (DAO), one of which in which the program ensures that the parties involved manage the show, rather than a centralized authority.
The Dash ecosystem is based on "masternodes" for the execution of its operations. These nodes are not substantially very different from the standard nodes running on the blockchain, except that they are required to possess at least 1,000 Dash tokens. Critics argue that this does not make the Dash truly decentralized as it puts early adopters into a significant advantage.
A software bug has caused the extraction of about 2 million coins on the first day of the launch of Dash in 2014 and it is assumed that these owners have an undue influence on Dash's governance. This problem was highlighted when the developers of Dash proposed to revive the cryptocurrency, but the community voted for its proposal.
Despite the controversy, Dash remains one of the largest cryptocurrencies in terms of market capitalization at the end of 2018.
DASH / USD performance review
DASH has opened the year 2018 to $ 1,054, a huge increase of 9.3% compared to January 2017. DASH has recorded a steady increase throughout 2017, but the trend has seen an inversion in 2018, as in the case of most cryptocurrencies.
DASH reached its annual market price of $ 1,362 in the second week of January, but later maintained a predominantly bearish trend for the remainder of the year.
The cryptocurrency dropped to $ 395 by the first week of February, keeping a wedge on the downside, when it saw a breakout with a two-week uptrend.
DASH saw a market recovery between April and May, but it was soon corrected. The cryptocurrency rose from $ 306 on April 12th to $ 537 on April 24th. It failed to keep earnings, and was reduced to $ 299 by the last week of May.
DASH fell to less than $ 100 in November and traded at an average of $ 73.5 in mid-December, a huge decline of 93% in the market price from the start of the year.
DASH also achieved mediocre results compared to BTC, with a decrease in relative value throughout the year. As of mid-December, DASH has lost 74% of its value compared to BTC since January.
dash – Big events in 2018
The year 2018 proved difficult for Dash despite obtaining some distinct specializations at the end of 2017, including that of the American broadcaster Max Keizer of Keizer's fame.
The cryptocurrency has suffered in some of its older markets, but has also managed to gain new ones.
Dash suffered in Japan when local authorities started repression against privacy-oriented cryptocurrencies. More Japanese exchanges, including Coincheck, have interrupted Dash's trading offer under pressure from the country's Financial Services Agency (FSA).
Instead, the cryptocurrency has found a new market in Venezuela affected by hyperinflation. In August, Ryan Taylor, CEO of the Dash Core Group, told Business Insider that Venezuela became the second largest cryptocurrency market compared to China and Russia.
Hundreds of local stores including the American fast food franchise Subway and Calvin Klein fashion stores accept Dash payments, according to the Dash team.
In December, Forbes reported that KFC is discussing with the Dash team to start accepting their cryptocurrency in multiple outlets in Venezuela.
DASH was one of the cryptocurrencies added by the eToro portfolio and Abra cryptocurrency on their respective platforms in 2018. The main Bloomberg and MarketWatch media also have has started to monitor the performance of DASH this year.
What to expect in 2019
The DASH had a poor performance in 2018 in terms of market price compared to other major cryptocurrencies, and the fight will probably continue in 2019.
With the regulatory restrictions imposed all over the world, things are becoming more difficult for cryptocurrencies that claim anonymity as their main characteristic.
The competition to enable faster cryptocurrency transactions has increased enormously since Dash was launched for the first time. The secret implementations of witness and lightning networks with Bitcoin and Litecoin and the increase of Bitcoin Cash and other fast transaction cryptocurrencies pose a threat to the existence of Dash.
The main advantage of Dash seems to reside in its Core Group, which assists the implementation of cryptocurrency on the ground both from a financial and operational point of view. This is what puts them in advantage even in Venezuela. It can see a relatively stable growth if it manages to replicate its operating success seen in Venezuela in other countries as well.
The cryptocurrency can also benefit from the adoption of corrective measures for the technical problem that has seen in 2014 which has led to a disproportionate distribution of wealth – and therefore of power – in the Dash ecosystem. But it seems unlikely given that such a proposal has already been rejected by his community once.
Read also:
Year-end summary: how did Binance Coin work in 2018?
Year-end summary: how did Litecoin behave in 2018?
Now that you have useful information about the future of Dash, it's time to start investing. With eToro, a leading social trading platform, you can trade manually or copy the actions taken by the main traders, subtracting most of the stress and your investments.
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Published 21 December 2018 at 08:00 UTC
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