DASH Spikes, Following Bitcoin Uncertainty
While Bitcoin and Bitcoin Cash are fighting for the position of primacy, altcoins are building up their presence and commanding higher prices. This time, it was the turn of DASH, which was recently depressed below $300 but spiked suddenly to peaks near $450.
At the moment, DASH stands around $438.82, up 27.55% in the past 24 hours, gaining rapidly while Bitcoin Cash was unraveling from the pump in Korea. Trading volumes peaked above $570 million, while DASH has seen much lower trading at around $30 million.
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DASH is still a digital asset focusing on ease of payment, rather than store of value, as it works on ways to make payments easier. DASH believes its payment system would work better if other coins are accepted as well:
"It would seem that adding other coins like BTC, BTH, ETH and LTC makes the system easier to get wider adoption. Dash could be the “preferred” payment by charging a higher processing fee for other coins," the company stated in a blog post.
DASH has the advantage of a semi-centralized system of voters, so it is easier to reach consensus. Due to this, recently DASH increased its block size to work through more transactions.
"As a payments-focused network, we strongly believe that maintaining low transaction fees is a prerequisite to developing a healthy network over the long term. High transaction fees affect both consumers and merchants looking to spend the incoming funds," said CEO Ryan Taylor.
DASH lowered its fees 10 times by increasing block size to 2 MB.
The mining of DASH also shows signs of the coin's popularity, as the hash rate reached the petahash range. While it is still a few times smaller than Bitcoin's hashing power, according to the DASH team this signifies serious involvement and investment into the DASH network. DASH is mined with ASICs, the newest ones being the Antminer D3.
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