Dash’s Break to #4 Crypto Position Explained By Its Cashing In On Bitcoin’s Consumer Problems
Dash price’ meteoric rise seems to have attracted more investor interest as well as a significant spike in user numbers and business partnerships.
At the time of publishing, according to Coinmarketcap, it was the fourth most valuable cryptocurrency, with the market capitalization of over $200 mln, passing Litecoin with its $190 mln market cap.
Dash has struck a partnership with BlockPay, a leading cryptocurrency PoS solutions, which made Dash accessible for use by hundreds of merchants in over 36 countries.
The arrangement will add Dash to the list of several other leading cryptocurrencies that are available for use on the BlockPay PoS platform: Bitcoin, Ethereum, Steem, Litecoin and Dogecoin.
According to BlockPay’s CEO and Co-founder, Christoph Hering, the decision to add Dash to their platform was made easier considering the huge potential in the currency’s community and in the underlying scaling technology behind it which could thrive even further based on the problems facing the most popular digital currency, Bitcoin.
Bitcoin’s problems
Hering says:
“At the moment, Bitcoin has a big problem from a consumer perspective. The slow transaction speed, the high transaction fees and the speculative nature of Bitcoin make it very unsexy for everyday consumption. Now, comparing the altcoin ecosystem, many struggle with user adoption, high volatility and a missing business orientation. I think that the Dash Network is different because it has a strong and active community, a great worker system funding growth and marketing plus an active development team that is building the right tools for mass adoption.”
With Dash currently $28.27 and over $200 mln market cap - the currency has doubled its market cap since Jan. 1 - making more people be able to pay for goods in Dash directly to the merchant at no cost to the merchant and extremely low fees for the consumer is of great benefits to its community and its future users as it would enhance adoption in real-world applications.
Focus on usability
Dash has always been focused on usability as a digital cash with a wider objective to make people have a similar experience doing both online and Point of Sale transactions. Payments can be made at BlockPay terminals by scanning a QR-Code or tapping a user’s phone on the NFC-Terminal. Dash is currently at its all-time high record and could be deemed the fastest growing cryptocurrency this year.
Daniel Diaz, Dash VP of Business Development adds on the new development:
“Because mainstream users are less familiar with the cryptocurrency culture right now, it will be important for them to experience digital currencies, at least partially, in ways they are already familiar with. The point of Sale solutions that are helping retail stores accept digital currencies in ways the public is used to help build the cultural bridges we need for widespread digital currency adoption.”