Crypto Briefing, which has done over 100 deep dive analyses on different coins, has just launched their Digital Asset Report & Evaluation (DARE) initiative to give more robust analyses and has chosen Dash for its introductory report, which it gave a “B” rating.
The report is split into an “Initiation Report” to cover initial findings and “Update Report” to go further into the analysis and offer multiple updates as warranted. The initiation report started off by stating “research estimates that the value of contactless payments will grow from 14.1 billion in 2017 to 801.4 billion in 2025” and that Dash has an ability to capitalize on this trend.
“Dash targets the broad electronic transactions market with its range of consumer and merchant features, which present a multi-trillion-dollar opportunity.”
The report further describes the Decentralized Autonomous Organization (DAO) of Dash and the mining reward split (45%/45%/10%) between the miners, masternodes, and treasury. The report also discussed how this structure allows Dash to offer unique features such as InstantSend, PrivateSend, and network self-funding to develop and integrate Dash into usable areas around the world.
The report cited delays from the original roadmap of the Evolution platform release as the major reason for a lower “B” grade, but added that “given the extended track record of the development effort there is significant confidence in the team’s ability to eventually deliver on the project milestones”. The report also added “the clear cut use cases make it more likely for broad market adoption to take place”.
Maintaining the grade
The update report held the same “B” grade, but went further into Dash’s adoption around the world, including numerous debit cards and ATM locations, as well as “over 3,000 merchants”, which is now over 3,600 merchants world wide. It also referenced the significant adoption Dash is seeing in Venezuela and integration with Alt36 as evidence for physical-world adoption in everyday transactions. The report also discussed growing robustness and confidence of the network as evidenced by the increasing Masternode count.
The DARE report highlighted that Dash suffered a greater exchange price correction than competitors Monero and Zcash during the large price declines, but the coins have moved relatively together over the past few months. However, the report adds that Dash has a much larger volume than Monero and Zcash, which the report says indicates better Dash liquidity.
At the bottom of both reports, the rubric states that a “B” grade occurs when “one major progress indicator (tech development or ecosystem growth) is typically advancing well in accordance with roadmap but the other is lagging behind; upcoming catalysts signal potential for positive price trend”. The report evaluation focused on technology development, ecosystem development, usability, trading volume, and token performance.
Dash getting recognized for its usability
Dash has struggled to be recognized by the crypto-media in the past, but that is beginning to change and this report is an indication that individuals are recognizing the successes of Dash and the future potential of the network. Dash has demonstrated a working DAO that allows the network to self-fund its own development and growth. Dash is seeing massive adoption in Venezuela as individuals seek refuge from hyperinflation and they have turned to the everyday low fees, fast confirmations, and usability of Dash. Dash is already seeing massive adoption before it has even implemented Evolution, which plans to make cryptocurrency use much more user friendly and thus increase adoption even further.
During the most recent Dash Core Group quarterly call, a new roadmap was released that included 12.4 or “pre-evolution” at the end of Q3 or beginning of Q4 and the next version 13.0 or “Evolution” for the end of Q4. Evolution will include blockchain users, DAP architecture, DAPI (first ever DAPI thanks to the masternode network), and the initial release of the DashPay mobile wallet. These will be some of the technological leaps that the report cited that it is waiting on. The quarterly call also highlighted how Dash Core Group has taken significant steps to complete its hiring process and is now more fully staffed, which will allow them to be better positioned to accomplish the projected timelines.