Dash Coin News: How Dash Won the Bitcoin Cash Vs. SV Hash War
Did Bitcoin Cash really win the Bitcoin Cash vs. Bitcoin SV hash war? New analysis from CoinMetrics suggests that neither coin can claim victory. Instead, none other than Dash might be the true victor. This is due to data showing a steady increase in Dash cryptocurrency transaction volumes between November 28th 2018 and January 28th 2019.
Dash Cryptocurrency Transactions Vs. BCH & BSV Transactions
Initially, Roger Ver assured Bitcoin Cash investors that 2018’s fork was little more than a routine network upgrade. As it transpired, though, nothing could have been further from the truth.
As soon as Bitcoin Cash forked into Bitcoin Cash ABC and Bitcoin SV, Roger Ver and Bitcoin SV creator Dr. Craig S Wright, dispensed with the idea of allowing miners to decide which coin protocol to support. Instead, both began using paid mining power to shore up support for their respective coin variants.
Currently priced at $117.01 (2/4/19), Bitcoin Cash is widely appreciated to have won the Bitcoin Cash vs. SV hash war. However, according to CoinMetrics and BitInfoCharts, the only real winner was Dash.
Dash Cryptocurrency Transaction Data in a Nutshell:
In the two months since the start of the Bitcoin Cash vs. SV hash war, Dash has settled 64.5% more Dash wallet transactions than Bitcoin Cash, and 89.7% more transactions than Bitcoin SV.
The average size of Bitcoin Cash and SV transactions has, of course, been greater than the average size of settled Dash transactions. However, higher (overall) transaction counts, suggest that Dash is the only coin out of the three, currently being used in any kind of meaningful commercial context.
Did Bitcoin Cash Fail?
Analysis of BCH, BSV, and DASH transaction data from November 28th 2018 to January 29th 2019, suggests that Bitcoin Cash and Bitcoin SV, are attracting predominantly speculative investment. Dash, on the other hand, is being used as a retail-ready form of digital currency, benefiting from steadily increasing adoption.
As a more pressing thorn in Roger Ver’s side, some are also beginning to question the underlying use case of Bitcoin Cash.
Bitcoin Cash Isn’t Utilizing its Larger Block Sizes
Bitcoin Cash originally forked from Bitcoin in 2017, due to developers believing that Bitcoin block sizes should be increased from 1MB to 8MB.
People like Roger Ver argued that larger block sizes would allow for faster and cheaper transaction processing. However, since Bitcoin Cash forked from Bitcoin, average Bitcoin Cash block sizes have amounted to just 171 KB. Conversely, average block sizes on the original Bitcoin blockchain, have held steady at 934 KB.
Put simply, since 2017, the original Bitcoin network has processed transaction blocks four times the size of Bitcoin Cash blocks, despite the Bitcoin Cash blockchain benefiting from increased capacity. This undermines the use case of Bitcoin Cash and the necessity of 2018’s Bitcoin SV hard fork.
What Does Recent Dash Coin News Mean for Investors?
In April 2018, Weiss Cryptocurrency Ratings predicted that clones of Bitcoin (and especially clones which co-opt Bitcoin’s brand identity) will eventually fizzle into obscurity. This is because clones like Bitcoin Cash are quick to find flaws in coins like Bitcoin but slow to bring anything new to the cryptocurrency market.
Some are starting to argue that smaller (actual) transaction block sizes and purely speculative investment, are signs that Bitcoin Cash and SV may indeed become obsolete in the near future. Moreover, as speculative investment starts to diminish, Dash cryptocurrency proponents may well see Dash start to steadily increase in popularity and market capitalization.
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