DISCLAIMER: Dash is part of my crypto portfolio investment
Introduction:
Dash is a PoW Blockchain cryptocurrency that has a decentralized autonomous organization (DAO) working on top of it.
The DAO works in a way that users with more than 1000 Dash can vote on implementations to the network and distribution of 10% of the block reward.
It is similar how Bitcoin works but the advantage is that it is easier to reach a consensus on new implementations because of the masternode voting that allows it to be clear what the network wants. If new factors come into play in the crypto world Dash is able to adapt to it in a better way.
COIN RATING: 7,2
It is a stable well-functioning coin that has a good potential to grow.
The masternode layer makes Dash more robust and easier to implement new features such as instant and private transactions.
It has ambitions to become the currency to be used in the day-to-day trade.
Relative Network Value: 9
Dash is a mineable currency like Bitcoin. It uses PoW algorithm to distribute its block reward.
On top of that it has a network of masternodes.
The masternodes work as a second layer to the miners and they make it possible to implement Instant Transactions and Private transactions without needing third parties.
Note that Instant and private transactions are not enabled by default and you need to be running a Dash Core Wallet to use them.
Masternodes are able to vote on the use of 10% of the block rewards and on different implementations to the network (such as block size, where part of the reward goes, if they want to implement segwit, etc.)
This makes it easy to reach consensus on new implementations. (Avoiding similar conflicts like the one between Bitcoin and Bitcoin Cash)
Masternodes are able to fund projects by voting. Sometimes they fund odd things.
For example, Dash as some sort of obsession to sponsor MMA fighters which I have yet to understand. https://www.ccn.com/mma-title-contender-rory-macdonald-talks-dash-sponsorship-ahead-bellator-192/
To be fair the masternodes do pay the developers and marketeers of Dash with the voting. So most of the funds are used in proper way.
Masternodes get a percentage of the block reward. Taking into account that you need 1000 Dash (or approximately 900,000 Dollars at the time of this review) to have a masternode then I doubt that people with masternodes would do anything to compromise the network. They get annually around 7-10% in ROI making masternode quite a lucrative investment.
Potential Growth: 7
Dash wants to be able to implement instant transactions for all their wallets.
When they can make this happen then Dash would become the best PoW currency by far for day-to-day use.
One thing holding me back is that the Evolution (https://www.dash.org/evolution/) project is ongoing for quite awhile now without being released.
The sooner Dash is able to release Evolution the better chance it has to take the market before the new generation instant and feeless coins like XRB.
Evolution is a light-weight wallet that makes it able for anyone to make private and instant transactions. It also has an API making it very easy to develop projects on top of Dash.
Relative Team Value: 9
The creator of Dash is still in the project and has ambitious plans to make Dash the best currency to be used day-to-day. They have their own marketing team and developing team that is funded by the masternodes.
In terms of decentralized teams, Dash has one of the best.
https://github.com/dashpay/
Partnerships: 5
Dash has little partnerships relative to its age and many companies do not seem to want to endorse it.
If Dash is able to realize it's vision, it would compete against most second layer businesses that work on Bitcoin (BitPay, Exchanges, Lighting Networks).
The masternodes have also sponsored things that have little value to Dash or society. Which makes me sometimes doubt if there are some internal rigging.
It is being traded in most crypto exchanges but not yet able to be traded directly for fiat. Therefore, it’s price is mostly linked to Bitcoin. This could change because Robinhood has said they will start trading with Dash.
Dash was being used by some visa card companies like Shakepay, but Visa banned them.
Utility: 6
Currently it works as an alternative to Bitcoin (similar to Litecoin, BCash) with lower fees and faster transaction times. With the ban on crypto visa card (such as Shakepay) that was using Dash, it became less useful because you can no longer trade directly Dash for fiat.
You need 1000 Dash to run a Dash Masternode. Masternodes are a lucrative business and they provide a important feature to the Network.
The masternode layer makes the Dash price stable because a lot of funds are locked in these masternodes.
In short, Dash is used as a currency, a store of value and as a share of the Dash network.
Sources:
https://dashpay.atlassian.net/wiki/spaces/DOC/pages
https://www.dashforcenews.com/
https://www.reddit.com/r/dashpay/
https://dashpay.atlassian.net/wiki/display/DOC/Official+Documentation
http://dashvotetracker.com/
https://www.dash.org/forum