What Dash's Hashrate Chart Means for the its Future
Sep 05, 2018
- Dash’s hashrate chart, seen below, has raised questions concerning its long-term viability. However, recent spikes in demand in LATAM and high-inflation countries have caused the hashrate to rebound, injecting life into its mining community.
- Dash attempts to solve problems of slow transaction speeds by introducing a masternode network that stores Dash and allows users to fully complete and secure transactions in seconds.
- Dash’s hashrate has steadily fallen since its price peaked in late December 2017. Despite price rebounds in February and May, Dash’s hashrate has only weakened, showing no signs of stability -- until its uptick of demand in LATAM and high-inflation countries.
- Dash possesses a unique mining protocol -- when a block is mined and verified, miners receive only 45% of newly created Dash while 45% of new Dash goes towards its masternode and the remaining 10% is allocated to a treasury fund for the development team.
- With miners receiving only 45% their newly created coins, miners may have been fleeing in favor of more profitable digital coins.
- If Dash is not able to steadily regain mining support from here, the digital coin’s security will be at risk and its longevity will be questioned.
Is Dash is already too far gone and its hashrate chart is an early indicator? Or could increased demand in LATAM and high-inflation countries be the spark it needed? Only time will tell.