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- TIMESTAMPS -
0:00 Intro
2:28 What is Dash?
6:01 Dash and Regulations
10:43 Dash vs. Competition
14:24 Dash Platform
16:06 The Future of Dash
17:25 Final Thoughts
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⛓️ 🔗 Useful Links 🔗 ⛓️
► The Dash Platform Explained https://www.youtube.com/watch?v=9WqUMrIN58Q&list=PLiFMZOlhgsYKoWoCA-KdkTPFITWxhjDxW
► Dash Regulatory Information: https://www.dash.org/regulatory/
► Dash Roadmap: https://www.dash.org/roadmap/
► 1000x Group study about crypto on the darknet: https://news.bitcoin.com/bitcoin-cash-10-darknet-sales/
► In depth analysis of DOJ Cryptocurrency Framework: https://youtu.be/r-ksQLS6uQM
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❓What is Dash ❓
Dash seeks to be what Bitcoin was supposed to be – a peer-to-peer electronic cash system. However, there are a few differences.
First, Dash is much faster than Bitcoin. It can process around 56 transactions per second versus Bitcoin’s 7. In practice, it takes less than 2 seconds for a Dash transaction to complete. This is magnitudes faster than Bitcoin’s 10-minute transaction time.
Second, Dash is much cheaper to send than Bitcoin. Transaction fees on the Dash blockchain are less than a cent, whereas Bitcoin transactions cost a few dollars a pop on a good day. Third, Dash gives users the opportunity to easily send a private transaction using PrivateSend, which is their own in-house version of CoinJoin, a privacy protocol originally developed for Bitcoin.
👮♂ Dash and Regulations 👮♂
Dash has been in the crosshairs of regulators ever since its release and this may be a part of why the project has struggled to regain its former glory. It all began with Dash’s original name Darkcoin, which made many exchanges reluctant to list
Even after Dash renamed and rebranded itself as a professional payments network, it was targeted by the SEC which alleged that Dash should be classified as a security. This was resolved after the CEO of Dash Core Group went in person to Washington D.C. to meet with regulators.
More recently, Dash was named in a document created by the Department of Justice which is meant to serve as a guide to lawmakers in the United States when they make decisions about cryptocurrency. It noted Dash as a privacy coin despite the fact that Dash is technically not a privacy coin. It just offers a branded version of Bitcoin’s CoinJoin, both of which are optional to use.
🏋️♀Dash vs. Competition🏋️♀
The cryptocurrency space has grown significantly since Dash was created in 2014. This has led to intense competition in the decentralized payments space and Dash arguably lacks the throughput required to sustain the large-scale network of users it hopes to someday have.
Furthermore, Dash has been shying away from its privacy angle even though it is the feature which made the project stand out. There is also less competition in the privacy coin space
🖥 Dash Platform 🖥
The Dash Platform was first proposed in 2015 by Dash’s original creator Evan Duffield under the name Evolution. A whitepaper for Evolution was published by the Dash Core Group in 2017 and the testnet for the renamed Dash Platform finally launched in December 2019.
The Dash Platform consists of four key elements. The first is DAPI, short for decentralized API, which will be the world’s first decentralized HTTP API. The second is the Dash Drive, which is a decentralized cloud storage system
The third is the Dash Platform Name Service or DPNS, which turns Dash wallet addresses into human-readable usernames to make transactions easier. The fourth is the Dash Platform Protocol.
⏳The Future of Dash ⌛
The Dash roadmap notes a series of milestones the Dash Core team is hoping to accomplish before the end of 2020. These include giving incentives to masternodes to host and service the Dash Platform, making it possible for lite clients such as mobile devices to connect to the Dash Platform, and introducing Dash Pay.
Dash has also been very aggressive with marketing in Latin America, where adoption seems to be growing. Going forward, the future of the project will be determined by community vote as has been the case for over half a decade.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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