Welcome to the first episode of Crypto Battles , where I compare two cryptocurrencies with similar features, talking about the technology, community, growth potential and other important characteristics of a digital currency. The first battle will be between Dash, an ambitious project that has big chances of going mainstream, and Chaincoin, basically a slightly modified version of Dash, which has been rising in price and getting attention since a community of holders got interested. These 2 currencies share a key feature- masternodes.
- Technology and key features
Dash strives to become “digital cash” and become a mainstream payment system, specializing on fast transactions. I would assume that this coin currently has a better chance of getting there first than its competitors , for several reasons: - InstantSend, which allows you to get your transaction fully confirmed within 4 seconds. This is a huge advantage
- PrivateSend, which provides complete privacy on desired transactions
- Masternodes, that enable those features and also distribute governance functions
- Dash Evolution- a first REALLY user-friendly interface that simplifies the payment process and will likely be adopted by bigger masses
Chaincoin is basically the same from a technical view- Masternodes, instant and private transactions and distribution of governance. But functionality of those features in Chaincoin is not properly tested yet, while developers behind Dash have shown responsibility and motivation , Dash is more experienced with market volatility.
Market cap and price movements, scarcity.
Dash has a relatively massive market capitalization of 1.4 billion dollars, roughly 7.5 million coins in circulation (most of which are locked up by masternodes) and max supply of 18,900,000 coins. Price has seen massive growth since the beginning of 2017, going from $10 to $180 as of now.
Chaincoin brought attention only in July of this year and increased rapidly in market capitalization. There is no max supply and currently we have 15 million coins in circulation. As people mostly chose to hold this currency for its Masternode feature, lots of chaincoins are getting locked up to run as masternodes. Consequently, it alters the supply and the price rapidly goes up.Future growth potential and mainstream adoption
I think that at this moment, Dash is one of the most important currencies around and definitely has a massive growth potential, which will both massively increase the market cap and getting a label of a PayPal alternative. Chaincoin, on the other hand, doesn’t leave me confident about long-term growth and adoption. At least if people continue to hold it and developers introduce some exceptional features, it may stay around.