Dash, “the revolutionary digital money system” in the BITA10 Index
As part of the BITA Indexes Membership announcements, today we feature the entry of the token DASH as an official member of the BITA10 Index!
The DASH project was first created by Evan Duffield, who after discovering Bitcoin, back in 2010, wanted to add anonymity and privacy features to the Bitcoin protocol. At first known as “Xcoin”, renamed one month later as “Darkcoin”, this project was officially founded in January 2014. However, it wasn’t until March 2015 when this altcoin was rebranded “Dash”- a blended word of “Digital Cash”. Its currency symbol in the market is “DASH”.
DASH is an open source P2P cryptocurrency focused on offering improvements in privacy and speed. On the one hand, this project pursues privacy and anonymity, thanks to their feature “PrivateSend”, that lets users have full control of their money. On the other hand, DASH is considered as one of the fastest cryptocurrencies in the market as a result of their “InstantSend” technology that allows traders to perform quick and almost instantaneous transactions.
The Dash project also features the establishment of a Decentralized Governance by Blockchain (DGBB), a system created with the mission of “solving two important problems of the cryptocurrency space: governance and funding”. (Dash, 2018) In fact, according to their official documentation online, the existence of DGBB allows them to fund their own development projects and not rely on other sources to finance it, like many other cryptocurrencies projects do.
Currently, DASH is one of the top digital currencies in the crypto market and has a market capitalization of nearly $2.1 Bn.
Since it’s foundation, DASH has seen tremendous growth in terms of its usage and ubiquity. In Feb 2014, it traded at a mere price of $0.213 per coin, had a circulating supply of 3.3 Million and had a market capitalization of about $700,000. Presently, DASH trades at $244.64 with a circulating supply of 8.2 Million coins and with a market capitalization of $2.1 Billion. Having a proof of work consensus mechanism and with the last coin expected to be mined in 2300, the rigorous engagement of the crypto community with DASH project reinforces its founder’s belief of creating a true form of “Digital Cash”.
By being one of the top projects in the crypto market, at BITA we are thrilled to include “DASH” in our BITA10 Index as one of the top 10 tokens measured by market capitalization, after having passed our quantitative filters. Within the B10 Index, this cryptocurrency represents 1.54% of the index by weight.
BITA 10 Index
The BITA10 Index represents the performance of the largest 10 tokens, selected and weighted by market capitalization. The index captures close to $250 bn of market cap, representing over 76% of the total market capitalization of all traded digital assets.
About Dash:
-Check Dash’s overview video:
-Official website: www.dash.org.
