Dashcoin vs. USD – Cryptocurrencies

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The massive advancement in computing technology and the internet has revolutionized every aspect of life, whether it is personal or business-related. In the financial sector, the progress in technology allowed people to perform numerous financial tasks from their devices instead of physically going to the banks.

One of the modern forms of performing a financial transaction is by using digital currencies or more popularly known as the ‘Cryptocurrencies.’ The digital currencies such as Bitcoin, Litecoin, Ripple, and Ethereum operate on blockchain technology and offer a decentralized system of financial transactions with no involvement or control from intermediaries such as banks or other financial institution.

Bitcoin was the pioneer in introducing ‘Peer to Peer’ transactions in 2009. Being the first digital currency, Bitcoin is today the most widely accepted and recognized cryptocurrency that is used for digital transaction and investment purposes. Bitcoin provided a secure and private network where two parties can complete a financial transaction without paying any additional fees and without following any guidelines such as in traditional transactions where the banks take some portion of the money as a service fee.

Bitcoin was a revolution in the digital payment system, but since many cryptocurrencies have developed and mostly have formed due changes done in the encryption and coding of Bitcoin mining. Bitcoin is based on an SHA-256 Hash algorithm and functions on a Proof of Work system. Many of the cryptocurrency developers thought of enhancing the capability of Bitcoin.

Evan Duffield was one such developer who was impressed by the capabilities of Bitcoin but had some doubts on privacy and noted that the speed of the transaction was quite slow. He took the core code of Bitcoin and tried to do changes on his own that eventually led to ‘Dash,’ which is now regarded among the top 10 most popular cryptocurrency.

The most amazing feature of Dash is its faster transaction speed and offering complete privacy to the sender and receiver of cryptocurrency. The word ‘Dash’ is symbolic and a combination of two words that are ‘Digital’ and ‘Cash.’ Dash was the first digital currency to implement a ‘Master node’ model that ensures complete privacy to the users with ‘PrivateSend’ and quick transaction speeds with ‘InstantSend.’ A standard Bitcoin transaction takes 10 minutes, while the same in Dash takes 2.5 minutes.

All Dash coins are equal and fungible, which means that the transaction history cannot be traced and revealed to anyone. However, the user can know where the transaction came from and where it went. The total Master nodes operating in the Dash network are 4,943. Dash has a unique governing structure where 45% rewards go to Master nodes, 45% goes to miners, and the remaining 10% is used in funding and improvement of the Dash network.

What is the DASH/USD currency pair?

The Dash (DSH) pairing with United States Dollar (USD) is represented by ‘DSH/USD’ where DSH is the base currency, while USD is the quote currency. The DSH/USD pairing shows a combination of DSH, which is a cryptocurrency gaining popularity, and USD, which is surely one of the most popular and acclaimed currencies in the world.

The DSH/USD displays the relationship of Dash with the United States Dollar. The DSH/USD pair shows how many US Dollars are required to buy one Dash. The current exchange rate is 1 DSH = £76.139

History of DASH/USD Pair

Evan Duffield introduced Dash on January 18, 2014. First, the name was ‘Xcoin’ and then changed to ‘Darkcoin’ and then to ‘Dash’ on March 25, 2015. Within two days of its launch, almost 1.9 million Dash coins were mined, which was nearly 10% of the total supply of Dash coins ever mined. Duffield proclaimed that Dash was the result of mere coincidence and due to bug when Litecoin code was forked.

Dash coins are capped at 18 million, which means only 18 million coins will be made. The average time of the Dash mining block is 2 and a half minutes, which is almost 4 times faster than bitcoin, where a block is mined in 10 minutes. Dash has a unique operating model where 10% of rewards are refunded, which helps Dash to source its own growth and adoption.

One of the key features of Dash is ‘master nodes’ that are specialized servers that authenticate the network and ensure fast transactions. To operate a ‘Master node,’ a miner has to invest in 1000 Dash. The total market capitalization, as of now, is $730 million. The all-time high value of Dash was $1,600 in December 2017, and the all-time low value was $0.21 in February 2014. In 2017, the market capitalization of Dash exceeded $1 billion, and Dash accounted for almost 5% of the global cryptocurrency trading volume.

United States Dollar (USD) is the most traded and influential currency in the world. US Dollar is regarded as the top reserve currency and part of nearly 90% of overall transactions in the Forex market. US Dollar is the top Major currency, which also includes Euro, Great Britain Pound (GBP), and the Japanese Yen (JPY). US Dollar is also the benchmark currency that is used to value numerous commodities such as oil, silver, gas, wheat, sugar, and gold. US Dollar is also one of the only currency that is paired with all the other global currencies and the different cryptocurrencies.

How to analyze the DASH/USD Price Chart

If we analyze the price chart of the DSH/USD pair, we observe that value remained in the range of $100.00 to $140.00 from the second week of January 2020 to the last week of February 2020. The DSH/USD pair saw a considerable downtrend from the first week of March 2020 and the lowest value of $42.559 on March 16, 2020. The DSH/USD pair again started to rise from the first week of April 2020, although with regular price fluctuations however the highest value recently was $101.069 on August 6, 2020.

Currently, DSH/USD pair trades on $76.139. The Bid price is 76.06, while the Ask price is 76.18.

If you believe that the value of DSH will rise as compared to USD, then you will go long or Buy, and conversely, if you speculate the value of DSH will drop against the USD, then you will go short or Sell.

What causes price change in the DASH/USD pair?

The main purpose of introducing Dash was to overcome the shortcomings that users had to face in dealing with Bitcoins, such as slow transaction time and privacy issues. Dash has seen incredible popularity and acceptability among all the other digital currencies and is known as one of the best cryptocurrency for most private and fast transaction.

However, the value of Dash is influenced by many factors that also impact the value of other cryptocurrencies. Dash is quite volatile, and there are many sudden price fluctuations. The value of Dash is impacted by

• News related to Dash, such as partnerships with BlockPay in March 2017. The price of Dash also increased in anticipation due to Dash Conference in September 2017.
• The price of other similar cryptocurrencies such as Monero
• Mainstream adoption and acceptance along with regulatory rules that keep on changing
• As Dash offers complete privacy and anonymity, there are certain rules which will be imposed to stop any illegal trade activities

The value of the US Dollar, on the other hand, is impacted by the monetary policy of the US Federal Reserve, also known as the Fed. US Dollar is regarded as a stable currency with not many fluctuations, but some of the factors that influence the price of USD are interest rate, inflation, Gross Domestic Product (GDP), political stability, and government debt.

The information above is for education purposes only and cannot be considered as investment advice. Past performance is not reliable indicator of future results.