What is Dash?
Dash stands for digital cash. It is one of the older coins that has been around since 2014.
The goal of Dash is to make everybody in the world able to make friction free, quick and easy transactions without being centralised or controlled by an authority. They have ATMs, merchants and you can use it in a lot of places both online but also in physical shops.
Dash uses very strong cryptography to make it therefore very secure.
Mass adoption in countries with hyperinflation
Dash has become very popular in countries where the traditional currencies have lost a lot of value. Countries that experience these hyperinflations see a steep adoption of cryptocurrencies and here Dash has benefited from this.
In the beginning of 2020 Dash price skyrocketed due to hyperinflation in Venezuela.
It has low fees and fast transactions which is something that makes it very competitive compared to bitcoin. It is therefore a great alternative to the more traditional payment options like cash and credit card.
Dash is still not as widely accepted as a payment option and therefore it will not take over the traditional markets just yet. However this is the same problem that all the cryptocurrencies that challenge the traditional payment providers face. When cryptocurrencies become popular and used as an everyday payment option then Dash will definitely be one of the best alternatives to compete in that space.
One of the things that made Dash so popular is the Dash treasury which is a self-funding mechanism where some of the new currencies that gets minted goes into the Dash treasury which is then funds that can be used for expanding the network or as they did in Venezuela they used it to set up teams in Venezuela that were solely there to promote Dash and the adoption. It is worth pointing out that even in the bear market of 2018 Dash grew in adoption even with a lower interest in cryptocurrencies. This is very much due to the Dash treasury.
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