Dash (DASH) coin will be rolling out DashDonates – the latest crowdfunding resource. This will make it easier for people to invest in up-and-coming projects, thereby increasing the value of DASH. Since the price charts of the cryptocurrency are not favorable, the company hopes that the new funding system will attract more investors into DASH.
DashDonates: A Superior Mode To Systematize Crowdfunding
Although Dash will not be holding any donation money coming from the projects, it will offer the latest funding data. In short, we can say that DashDonates will be the platform for officially raising funds for all Dash-linked ventures. Investors can view the listing of startups that need funds and the donations already made. Therefore, customers can get a clear picture of the current ecosystem and accordingly decide to invest in Dash. Apart from this, the company will also issue links to each wallet address. Then, people can themselves confirm its authenticity.
Innovation Doubtful To Bring In More People To Purchase DASH
In spite of the numerous benefits, Dash still has a lot of direct competitors. Ripple (XRP) and Verge (XVG) are its greatest competitors. In fact, Dash is the hybrid of these two crypto ventures. However, investors looking to invest in Dash may view this fact as an indicator that Dash doesn’t bring anything unique to the crypto market.
In a nutshell, even though Dash transactions are fast, they are not as fast as Ripple. Additionally, although the transactions are anonymous, they are not as secret as with Verge. Thus an average person lacks proper motivation to invest in the crypto coins. In other words, the hybrid status of the venture provides a sufficient reason not to invest in Dash.
Depending on this fact, the DashDonates platform will appeal more to those who already have an interest in the project. As a result, current fans are likely to purchase more of the coin. Thereby, no massive spike in interest outside the already existing community is to be expected.
As the current statement by Goldman Sachs illustrates: “Cryptocurrencies do not fulfill any of the three traditional roles of a currency: they are neither a medium of exchange, nor a unit of measurement, nor a store of value.” Furthermore, the investment banks details that DashDonates is genuinely a great innovation. Unfortunately, the statement remains true regarding the fulfillment of the three currency pillars. Consequently, outsiders wanting to invest in Dash will only trickle in haphazardly, instead of in large waves.
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