On December 27 2019, Amanda b Johnson asserted that there is a likely merger between bitcoin cash and dash cryptos. Who is Amanda b. Johnson by the way, you may ask.
Well, She is an early adopter of Cryptocurrencies, a cryptocurrency enthusiast. She has carried our research on cryptocurrency and thus provided commentary on the space since 2014. Recently, she was included in the list of “Top 10 Females in Crypto” by Core Magazine. Currently serves as the official spokesperson for DASH digital currency
She had asserted that Bitcoin Cash (BCH) and Dash (DASH) were bandied about as two chains that could merge, producing a “Bitcoin Dash” brand.
The crypto community at large share one major feature and that is “payments”. However, some are giving the distinction between those cryptos stating that bitcoin cash and dash operates on much more different nodes structure. Node is a simply a computer that connects to the blockchain network. It follows consensus rules and also determines whether transactions are valid.
The effective running of a Bitcoin Cash node is a resource-intensive venture, as the network aims to propagate relatively large blocks. The Dash network, on the other hand, prefers to sell nodes, which still requires a significant investment. At peak market prices, when DASH touched $1,400, running a master node was prohibitive. However Amanda b Johnson clarified that something similar has been done before but with smaller chains.
Based on technology of bitcoin cash and dash, bitcoin cash exhibits a close similarity with a first generation blockchain, but with the significant inclusion of emergency difficulty recalculation. This brilliantly prevents predatory SHA-256 miners from grabbing all the blocks, then abandoning the chain thereby causing it to slow down to a drag. Dash network on the other hand, is still working on its protocol, having problems with master node security. The unique feature of the Dash project is the network of ambassadors, who gets compensation for boosting DASH usage. However, Dash network has not managed to produce the promised email-like, human-readable addresses.
The DASH asset has been compromised further by being considered a pump-and-dump scheme. Formerly a top 5 asset, DASH sank into the sixteenth position on the coinmarketcap list, sinking by around 50% in 2019. DASH fell to $39.95, also crashing from 0.02 BTC in January, to 0.005 BTC toward the end of 2019. As at the writing this article, the price is at $126.59 at 0.012 BTC.
Ultimately, the merger seems like a never-gonna-happen situation owing to the mere fact that the Dash team has already presented the roadmap for 2020 and obviously a merger of any kind isn’t included in it. This would describe an indeed hypothetical assertion on the part of Amanda b. Johnson.
The crypto community is growing strongly as more and more people are boarding the train. This is a good sign indeed and making a futuristic proposition is something anyone would like to do perhaps due to optimism, enthusiasm and what not. But you know what they say, “Talk is cheap”, especially when it got to do with transactions. It is noteworthy that the underlying promise of cryptocurrency is decentralization. That is the perceived promise when bitcoin was born. That’s why it was called a “peer to peer electronic cash system” and as a result, we don’t need a middle man or institution for a transaction to occur smoothly. We all love it for what it is. A merger happening between two chains will somewhat breach that promise. Instead of a merger, bitcoin cash and dash are basically working on improving their individual chains/structure so as to grow their ecosystem which in all sense is the wisest and safest thing to do. So, the hypothetical assertion only remains in the mind.
What do you think about this merger? Let me know in the comments.