Dash Cryptocurrency Part 2
One of the differences between DASH and other similar cryptocurrencies was the rejection of the usual Scrypt and SHA-256 algorithms. The coin system is built on the X11 algorithm, which provides 11 hashing directions.
There are several mining variations:
- on the processor. Used when the processor power of the computer is not fully utilized. Programs: Cpuminer, Minerd, Xcoin-miner;
- on the video card. The most optimal way to mine using Nvidia and Radeon cards. Thanks to the X11 algorithm, less electricity is required than in the case of mining on the processor. Cards overheat less, cooling load decreases. Programs: for Nvidia – ccMiner, AMD – sgminer;
- ASIC. Most popular for DASH solutions are Baikal, Pinidea;
- The use of cloud mining.
Mining on a processor and a video card is more suitable for private investors – it requires a minimum of investment, but the profitability will be much less in comparison with ASIC. For comparison, Intel Core i5 4670 delivers the power of 0.5 MN / s, ATI graphics chip – 2.5 MN / s, ASIC – 900 MN / s. The only question is the payback of ASIC and the cryptocompare calculator will help.
Mining pools: Mining pool hub, AntPool, F2pool, Supernova, Zpool, CoinMine, HashPower, Nicehash, LTCRabbit.
The disadvantage of earning in mining is the need for relatively large initial investments. Wallets are a good option for long-term investing, but for intraday strategies, this is not an option. An alternative is earning short and long positions on Forex. You can learn more about this alternative, as well as cryptocurrency pairs available for trading.
Prospects for DASH cryptocurrency for investors
The dsh cryptocurrency price to some extent repeats the general movements in the market: a smooth, without subsidence growth, until November 2017, then explosive growth until mid-January 2018 and no less sharp collapse. Now the price of DASH cryptocurrency is recovering, although not as fast as we would like. A much more interesting comparison is the graph of the price of a coin in the US dollar and the MTC – a good example of how you can make money on the BTC / DASH currency pair, where the volatility is much higher than in the USD / DASH pair.
The DASH cryptocurrency is often called one of the main competitors of Bitcoin, although it seems to me that this comparison is not entirely correct. The popularity of cryptocurrencies directly depends on how the community perceives them. And if Bitcoin is gradually beginning to be recognized as a means of payment (that is, to use the MTC blockchain for its intended purpose), then the dsh cryptocurrency rate is so far formed on the basis of speculative expectations of investors. It is unlikely that in the near future the attitude towards anonymous cryptocurrencies that are not amenable to control by the states will change. Therefore, considering the DASH cryptocurrency as a competitor to the BCH does not make sense.
The closest DASH competitors among anonymous cryptocurrencies:
- Monero. One of the most popular cryptocurrencies created based on the CryptoNote protocol. Today it is the most popular coin among anonymous cryptocurrencies, being literally 1-2 steps higher in the rating by capitalization level.
- Zcash, ZenCash, ZClassic. A few more successful long-term projects that are often copied and have many forks. Differences from DASH and Monero in the applied data encryption algorithms.
- SmartCash The chip of this project was “smart privacy”, which allows you to buy a cryptocurrency and then clear the transaction history. This technology does not allow you to track digital money transactions, including confusing hackers. So far, the coin is in the region of 130th place, but it has prospects. It all depends on the developers;
- BlackCoin. Another interesting startup that has never been hacked. According to the encryption algorithm, the coin uses a similar principle, like Monero. True, so far, the cryptocurrency is below 300th place, but its algorithm can be taken as a basis in a new startup.
There were other attempts to create similar cryptocurrencies, for example, Spectrecoin, VCash or ShadowCoin, but given their rating and quotes of the historical period, they should not be considered competitors.
It is difficult to judge the prospects of the DASH cryptocurrency rate against the dollar, but the forecast is optimistic. Recently, anonymous cryptocurrencies are losing ground: both DASH and Monero took off from the TOP-10, but nevertheless firmly entrenched in the TOP-15. In addition to Monero, DASH does not have strong competitors, but its anonymity plays against cryptocurrency. Investors understand that the practical use of the coin will be narrow due to restrictions, therefore they prefer more open payment systems or decentralized networks. A vivid example is a recent requirement by the FSA (Japan Financial Services Agency) to exclude DASH, Monero and ZCash coins from the turnover of exchanges. If this happens, the rate of the coin can greatly sag. However, Forex traders will be able to earn on their drawdown.
Conclusion Cryptocurrency DASH is an interesting asset for earning on speculative movements of quotes that repeat the general market trends. A startup is developing slowly, but surely, gradually expanding the number of participants. According to discoverdash. com, more than 1000 companies located in Venezuela, Australia, some regions of the USA, etc. joined the network. True, this is not enough for the large-scale development of the project. I recommend this tool for risk diversification as an additional asset.