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.
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.
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.
Join our Telegram Group To Stay Up To Date With Crypto News
One of the top performing cryptocurrencies of the day is REPO. REPO (REPO) is currently up 72.75% compared to USD…
As the world is moving towards Blockchain, gaming giant Atari too wants to dip its toe into the emerging technology.…
Private equity firm GSR Capital has hired tZERO, an Overstock.com subsidiary, to develop digital token for trading cobalt. Overstock said…
On Monday, December 17th, Gulf News reported that the advisory council of the United Arab Emirates Banks Federation (UBF) can adopt blockchain use…
France's financial regulatory watchdog - Financial Market Regulator (AMF) is working aggressively to bring down unauthorized crypto companies. The AMF…
There's a flood of new stablecoins hitting the cryptocurrency space in the last few months. A stablecoin is basically a…