Dash a cryptocurrency making a mark especially in Latin America has brushed aside all negativity about it facing issues. The main reason for this scepticism was the silence of Dash’s main team Dash Core Group (DCG). A recent Medium post by the CEO of DCG, Ryan Taylor has finally confirmed that Dash is going steady.
Taylor explained that Dash has sufficient capital/fiat buffer and so can face the current bear market. The size of DCG’s cash buffer was estimated at $1.79M at the time of the recent quarterly earnings call on November 12th 2018.
He also brought into light the rising demand of DASH through its increase of DASH wallet downloads, strong trading volumes and a recent successful stress test.
At the time of writing, Dash is in the green valued at $71.86 with a market capitalisation of $610,657,818.
Taylor further added that the Crypto markets are suffering due to the hash war between Bitcoin Cash ABC and Bitcoin SV.
The recent stress test showed Dash has no limits to scaling. The developers had even likened it to competing with payment giant Paypal. The test showed impressive results with 3 million transactions being carried out over a 24 hour period. It achieved 35 transactions per seconds, which is four times the result of the last stress test.
The bear markets have brought major financial problems to certain Crypto startups such as ETCDEV, a development team of Ethereum Classic (ETC) and popular Crypto based publishing platform Steem. ETCDEV is shutting down operations while Steem is laying off workers.
The only problem that can be foreseen is the overall expenses. DCG is funded from mining rewards, with employees earning in Dash. Thus if prices do fall the monthly budget of 6,177 DASH may not be sufficient.
Image Source – Flickr
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