When Dash and Monero came into existence, their main focus has been security and privacy. But who’d won in a Dash vs Monero contest?
Dash and Monero have unique qualities for the market compared to other top rated cryptocurrencies like Bitcoin. Regarding market capitalization and adoption, both tokens are small when compared to Bitcoin or Ethereum. Generally, Dash and Monero are similar to Bitcoin – that means they are each a unique digital currency – but with a focus on privacy.
Dash differs from Bitcoin in a number of ways. It comes with a point of sale, which is an advancement when compared to Bitcoin. With Dash, the time taken to complete a transaction is quick. Unlike Bitcoin, the timeframe for authenticating payments is very slow.
So how does Dash vs. Monero fair against each other?
Dash has a hierarchy of nodes due to the Masternode network. The Masternodes is used to enable PrivateSend and InstaSend. The nodes are unequal and making it traceable.
On the other hand, Monero is untraceable courtesy of three main technologies. The ring signature maintains the privacy of an address. Additionally, the confidentiality of the amount transacted is enabled by the Ring CT technology. Lastly, the Stealth address capability means that the receiver’s address remains anonymous.
When it comes to Dash vs. Monero, one might expect the privacy levels to be equal. However, we have some differences. Dash does not guarantee privacy by default since the feature is optional. Users can to use the PrivateSend option or not. The PrivateSend feature is an updated version of CoinJoin. The technology bars third parties from tracking any transaction.
Developers of Monero made it private by default. The digital asset makes use of a cryptographically secure system to enhance privacy. Additionally, Monero’s fungile qualities strengthen privacy.
Dash is a fork of Bitcoin. In simple terms, Dash developers created the token from the Bitcoin code but tweaked it to promote privacy. The crypto is just like Bitcoin but with unique variations in confidentiality.
On the other hand, Monero was not forked from Bitcoin. It is a fork of the CryptoNote protocol and Bytecoin.
It is important to note that both tokens are limited in supply compared to established cryptocurrencies. However, on the Dash vs. Monero, the former emerges on top. Dash core developers placed a maximum supply at 18.9 million. Additionally, after every two and a half minutes, a fresh block of Dash is generated.
For Monero, the maximum supply has been capped at 18.4 million. In the event the supply ends, we will still have production of Monero at the rate of 0.3 per minute. Furthermore, new blocks of Monero are generated between one to minutes. Therefore, Monero is inflationable – while Dash doesn’t have this issue yet.
Storage of Dash and Monero
Monero seems to lose the battle of Dash vs. Monero on the storage aspect. The token is not compatible with any hardware wallet. Holders of Monero usually store the asset in cold wallets which are considered to be more secure. Monero also comes with a paper wallet storage and a web wallet.
Pros of Dash
- Low transaction charges. Compared to credit cards and banks, Dash attracts lower transaction fees.
- Instant payments. Developers of Dash enabled immediate payment through the instantX technology. The technology is unique and decentralized as it takes only four seconds for payments to go through.
- It has extended privacy levels. Dash has a reputation in the market for its focus on privacy. Dash owners can make transactions with real privacy. In this case, no one can link the identity of the user with a specific address.
- Two-Tier Network. With this network, Dash is a robust system and that users can benefit from its high level of service.
- Smooth global trading. Dash promotes smooth international trade, something that is good for any business.
- High chances of mass adoption. Dash is made for everybody and once complete, mass adoption is expected to be the next course.
Cons of Dash
- There is a lack of clarity about ownership of master codes. Speculations are rife that the development team has allocated itself a big chunk of the master codes compromising the decentralized feature.
- With the positive market reception. Dash lacks a significant number of users and merchants.
- Brand confusion. The word Dash is used by other products, and it might be hard to classify it’s as a cryptocurrency.
Pros of Monero
- Dynamic scalability. With Monero there is no preset limit to eliminate spam payments.
- Multiple keys support. Monero supports different key systems that come with public and private options.
- Fugile transaction. With Monero, nobody can determine which Monero coin was used on which transactions. It is one of the unique features by Monero that stands out.
- Selectively transparent. With Monero, anyone can make their transactions visible to their person of choice.
- Continued incentives for Miners. In the event Monero supply gets depleted, we will have a constant supply of 0.3 XMR/min to pay miners.
Cons of Monero
- Limited wallet compatibility. There are no hardware wallets compatible with Monero.
- Centralization concerns. Despite being ASIC resistant, about 43% of Monero’s hashrate belongs to only three mining pools.
- Limited adoption. Many find Monero to be user-unfriendly, hence the slow adoption.
- Difficult to add new features. Monero is not a bitcoin-based cryptocurrency making it hard to add things.
For Dash Vs. Monero, there is a lot to say. The two tokens are trying to stand out from the pack with a focus on security and privacy. The two tokens come with significant features for crypto lovers. However, they still have a long way to go before achieving mass adoption in the market. Dash needs to clarify on the ownership of masternodes by the development team. On the other hand, Monero’s limited wallet compatibility is a significant concern. To be sure you’ve done the right pick, you need to check the latest crypto news about each of the cryptocurrecies and see which one performs better.
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