Dash is a Bitcoin fork that originally touted its privacy features but today focuses on the payments use case. Launched in 2014, Dash is the longest-running decentralized autonomous organization (DAO), which utilizes on-chain governance to make decisions on protocol decisions. However, DASH has fallen into obscurity over the years since the bull run of 2017. Below is a list of reasons why that may be.
What can DASH provide that another coin does not do better?
And what I mean by that is:
- Want SoV and security? Bitcoin
- Want smart contracts (SC), DeFi, and NFTs? Ethereum
- Want cheaper but more centralized SC and DeFi? Pick any of "Ethereum Killers"
- Want stable and cheap payments? Stablecoins
- Want privacy? Monero or ZCash
DASH doesn't do any one thing best. There's always a better alternative. Below are some more critiques of DASH. This is not comprehensive but a good starting point for anyone thinking about using or investing in DASH. (Not financial advice)
DASH cons - this article explains many of the issues (in my opinion)
1. the privacy solution is essentially just CoinJoin, which can be done on BTC, but the DASH implementation is done with a smaller number of participants involved in the mixing process (more participants is better, it is easier to hide in a big crowd vs a small one)
2. questionable genesis launch and token distribution
3. masternodes - they are never a good idea. just introduces more trust, corrupts incentives (in many cases), and excludes many from participating. Masternodes are crazy expensive to run and become a centralizing force. This is similar to EOS and their Block Producers (BPs)
4. here is the article where they come out and denounce that they are a "privacy coin" after years of marketing themselves as such
5. The inflation rate is higher than BTC
6. DASH is a bygone crypto from the 2017 era. look at this DASHBTC chart. This looks like a dead project. Hundreds of other coins have pumped or outgained DASH since 2017. Right or wrong, it seems the market's attention has moved on to other projects/solutions.
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