Unlike most cryptocurrency ratings published online, the Wise Crypto ratings have nothing to do with the current or future price of the currency. Whether or not a crypto is over or undervalued or priced today is completely irrelevant. Our research focuses on the sustainability of each project, the security, the use case, decentralisation, environmental impact, the technology, the scalability and the developers and teams behind the projects.
Dash Rating = 112/100
Technology (0 to 300) = 82
- Speed (0 to 50) = 2
Dash can handle 28 tps and takes 15 minutes to confirm transactions. The average tps is about ten, but the DASH team has claimed a much lower figure in terms of confirmation times. Dash transaction speed is much better when compared to Bitcoin which handles 7tps and takes 60 minutes to confirm transactions but still far to slow to be of any real world use.
- Cost (0 to 50) = 40
Dash transaction fees are very low and affordable. The project has recently managed to get its average transaction fee to one year low of $0.0264. It also reached an all-time high number of transactions per day (over 35,000), surpassing other POW cryptocurrencies such as Litecoin.
- Scalability (0 to 50) = 5
Dash aims to be the most scalable and most user-friendly cryptocurrency in the world. A Stress test conducted on the Dash protocol sometimes back revealed that it could handle 3 million transactions within 24 hours (this sounds impressive but break it down and it is actually less than 35 tps). The findings represented a new all-time high for Dash, which forked from Litecoin (LTC) (which itself was a fork of Bitcoin (BTC)) in 2014 and was initially dubbed Xcoin.
Researchers from Arizona State University, who observed the tests, concluded Dash’s blockchain architecture meant it could scale up to whatever size it needed. However it is incredibly doubtful this scaling is of any real note and more likely just a PR ploy.
- Environmental Impact (0 to 50) = 5
Dash like Bitcoin is minable, therefore has a serious impact on the environment in terms of the electricity consumed.
- Reliability (0 to 50) = 20
The reliability of Dash hasn’t yet been badly compromised. However the main Dash wallet has been hacked numerous times in the past.
- Decentralization (0 to 50) = 10
Just recently, it reached its all-time high hash rate of 3.2385 petahashes. In addition to increasing the hash-rate, Dash has also achieved improvements in mining decentralization. In essence, Dash is the topmost decentralized coins as far as the number of entities controlling the majority of hash rate or voting power is involved. Nonetheless, there have been concerns regarding Dash level of decentralization since its status may be hindered by Masternodes who carry the majority of the important functions. And like all POW tokens the threat of centralisation is always there.
Security (-250 to 0) = -200
- Reorg, 51% & Brute Force Attack (-100 to 0) = -80
The Instamine Controversy: Within the first two days of Dash launch, 1.9 million coins were mined, representing 10% of the total supply that will ever be issued. Dash founder, Evan Duffield linked the massive mining to a security vulnerability created when the code was forked to create Dash which hampered the difficulty. But then the creator would say that wouldn’t he? It couldn’t have been a pre-planned back door could it?
As with Bitcoin and all forks, there is a real threat of 51% attacks and re-org attacks.
- Potential for Being Banned (-100 to 0) = -80
Dash, like other private coins, has been delisted from exchanges in various countries such as Japan, South Korea, and China. Because Dash transactions are anonymous and untraceable, it has become a preferred coin for illegal trades, therefore, faces the potential of being banned. Just this week Okex Korea announced all privacy coins will be delisted.
- Network Vulnerabilities (-50 to 0) = -40
Dash network suffers from critical vulnerabilities including merging transactions, forward linking and through linking. These network vulnerabilities puts users as a security risk and completely breaks the coin’s fungibility. Despite the network vulnerabilities, Dash implemented “PrivateSend” to make the coin more fungible.
Use Case (0 to 500) = 210
- Initial Main Use Case (0 to 100) = 10
Dash was created as a privacy coin to provide untraceable and anonymous crypto transactions. With privacy coins like Dash, you can choose to “not declare” the income you make from your investment, and it becomes difficult for the IRS to track you down.
Since Dash is a digital coin, it can also be used to provide cross-border payments at affordable rates or send or receive payments. Dash allows users to move their money, shop and pay their bills instantly. Dash coin is, in fact, the most talked aboutng alternative coins to Bitcoin. Unfortunately for DASH fans there are dozens of much better alternatives out there.
- Mainnet Live (0 to 200) = 200
Dash has largely been compared to Bitcoin. This is because Dash was forked from Litecoin, and Litecoin was forked from Bitcoin. It, therefore, has a similar network architecture to that of Bitcoin.
- Additional Use Cases (0 to 100) = 0
- Additional Working Products (0 to 100) = 0
Apart from Dash coin, the team behind Dash have not launched any other working products to boosts Dash usage.
Core Team, Partnerships & Developers (0 to 200) = 20
- Core Team & Developers (0 to 100) = 10
The team behind Dash, led by Ryan Taylor as the CEO is made of technologists, scientists, designers, and business people who are well vast in the field of cryptocurrency. Dash has a solid development team behind it.
- Partnerships (0 to 100) = 10
To improve access to the crypto world, Dash has partnered with various companies notably Blox Forges and Aircoins. The goal of Dash is to establish and push partnerships on all payment verticals, create win-win cooperation with the foundation and their partners.
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