Bitcoin briefly topped PayPal’s market cap, while still lagging far behind in use.
PayPal, one of the global leading payments services outside of the banking industry, maintains a market capitalization of $71 billion. Earlier this week, Bitcoin, on an impressive growth spurt after the chain split at the beginning of the month, passed PayPal briefly, topping out at over $73 billion. Since then the price has experienced a correction, sitting near $68 billion at present.
PayPal maintains a significant advantage in everyday use
While in terms of total valuation Bitcoin and PayPal are close competitors, in terms of use as a payment system they are very far apart. At present the Bitcoin network fields about 260,000 transactions per day. Extended over the first two quarters of 2017, this daily average amounts to around 47 million transactions. Over that same time period, PayPal fielded about 3.5 billion transactions, almost 100 times as many.
Fees between the two are more difficult to compare, but in many ways PayPal still comes out on top, with many free domestic peer-to-peer payments and user-end purchases. Bitcoin, meanwhile, has a present average transaction fee of over $4, with a median fee of $2.38. For comparison, when sending money as a personal payment using a credit card via PayPal, a $100 payment would cost about $3.20 to send.
Dash Evolution aims to top PayPal’s experience
In an effort to out-compete traditional payment systems, as well as other cryptocurrencies, Dash has the most competitive fees in the field at present, with plans to lower them even further this year. The upcoming Evolution update will further expand on the mission to become a superior payment system, offering a sleek and user-friendly interface at the protocol level, as well as a solid scaling plan to grow past 5,000 transactions per second, rivaling levels of major card companies such as VISA or Mastercard. The initial stages of Evolution are set for late 2017 release, with wide market release early summer of 2018.
Crypto currency for the most part has become a speculative bubble of investing to crypto (I happy with it do, it pay’s my bills and makes it possible for project to receive funding in spades). But it’s just going to be a bubble if it’s never going to deliver on it’s promises
I believe it will be DASH it’s most important task to prevent that from happening and it will do so by bring actual real work application, I am glad to see that DASH core is not joining in with hype but in fact is working hard towards justifying DASH evaluation. The first version of Evolution will be a major step forward in that direction. I am pretty sure providing incentive to users and merchants will also soon be (major) part of it as well.
Really soon it’s going to go nuts.