Last weekend saw Dash exceed $1,000 as it hit $1,500 per coin for the first time since its creation. Cryptocurrencies have been growing really fast in the last quarter of the year, and Dash has not been left out of this great climb; particularly in November, considering the fact that it had been consolidated for two months prior to its rise in value. As at November 6, Dash had just begun its rise from the low $274. Today, six weeks down the lane, it stands at over $1,100. Much more is the fact that Dash had begun the year with a rather poor $11 dollar, thus its current value is about 139 times its initial year-begining value within a timeframe of 12 months.
Dash’s growth can not be attributed to only the increase of investors’ interest in cryptocurrency, the technical staff at the management of Dash Core also need to be given much credit. The release of the Dash 12.2 software upgrade made a whole lot of things with the regard to the digital currency very easy and simple. Most notable of all was the increasing of the network’s blocksize to 2 MB. A greater chunk of the other updates that came with Dash 12.2 were bug fixes, most of which are setting up the stage for next years Evolution software update.One of Dash Core’s developers stated these as being the major tweaks in the new update:
DIP0001 implementation (which is a 2MB block upgrade);
Transaction fee reduction 10x (activates via DIP0001 activation);
InstantSend vulnerability fix (activates via DIP0001 lock in);
PrivateSend improvement which should allow user to have mixed funds available much faster;
Various RPC changes;
Lots of backports from Bitcoin Core and refactoring of our own legacy code which should improve performance and make code more reliable and easier to review;
Experimental HD wallet with BIP39/BIP44 support.
The bigger blocks code that was approved back in 2016 by masternode owners also got introduced in the new update. However, it only became active after a month (December 5) of the update’s release.
Some other reasons that could be contributing factors to Dash’s growth are its integrations and big blocks and the update that is meant to be the game changer – Dash Evolution.
Everything needs to be improved upon if it is going to last. In a world where technology seems to be evolving much faster than we could ever think of, softwares are being updated every single day in an effort to make the user experience better every single time. Cryptocurrencies have a lot more to do with softwares than even the supposed coins you see every time, thinking those are what you are actually buying or selling. Mining and circulation of cryptocurrencies all have to do with softwares and a bunch of codes and a whole of tech savvy stuff. And because of this, mostly it is the much “techy” younger generation who are able to involve themselves in the cryptocurrency world, well, that is all about to change. Dash has been working towards making cryptocurrency so simple that “even your grandmother can do it”. Dash’s team of experts having been working towards this very goal for a long time, and software updates have been one of their greatest achievements in this area. Dash 12.1 & 12.2 have all been successful updates that are setting up the stage for the main update that is meant to change the way Dash operates and is even seen by people. This is the Dash “Evolution” software that is scheduled for release in 2018. Dash Core CEO, Ryan Taylor, writes this about the upcoming update:
“Think of Evolution as online payments, a system similar to PayPal or Venmo, but completely decentralized, so that a user is always in control of his or her own money.”
It is very clear that Evolution is a very big deal for the Dash Core team and that its success is going to change almost everything about cryptocurrency. However, what remains unsettled is issue of if the team can actually succeed in creating a system that conveniently emulates or even replicates PayPal but in a rather decentralized system. One thing that one can certainly say as being the reason for increased investor interest in Dash (as a build up for the release of Evolution), considering the success of its previous softwares.
More Partnerships and Integrations
Within the course of the year Dash has made several alliances and integrations with several bodies in an effort to attract more investors. They made a partnership with Alt36 to integrate Dash as payment system in the legal marijuana industry. Exchange service providers like Huobi, Kraken, and Bitfinex have added Dash to their platforms. There is also another partnership with Arizona State University to begin a Blockchain Research Lab. Ryan Taylor also teased more partnerships in the future at the Dash Conference 2017. Some of which were:
An additional ATM manufacturer
Global brokerage service with free bank transfers
A healthcare integration
Dash will have access to 20 new fiat currencies.
On-Chain Scaling and Bigger Blocks
When bitcoin tried introducing on-chain scaling by the use of bigger blocks, most bitcoin owners did not agree to it and a majority of them switched to bitcoin cash, with some others also turning their attention to Dash even though it did not really have much to offer at the time. An article from Cointelegraph stated that
“It’s possible that Dash is benefiting from the renewed attention on Bitcoin Cash, and by extension, on-chain scaling and bigger blocks. Dash’s 2 MB upgrade was just a start, with 5 MB blocks planned for the not-too-distant-future. Eventually, Dash plans to increase its blocksize to hundreds of megabytes.”
One of Dash’s co-founders, also revealed that 45% of block reward went to masternodes owners who were now eligible to upgrade to special hardware. In fact, doing the math with Dash’s current price, every owner of only a masternode earned $10,500 per month.
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