Dash Core Group CEO explains why Dash stands out in a market of over 2,000 cryptocurrencies
Dash CEO Ryan Taylor, in an interview with Profit & Loss, explained why Dash, in a market that has over 2,000 cryptocurrencies, stands out. He said it has a long history of innovation and one that shaped the industry is the masternodes.
“We were also the first with instant transactions and the first to market with a privacy feature. Additionally, we introduced as part of the protocol governance, explicit governance on the basis of voting – not on the basis of someone’s hash rate – from people who are staked in the coin,” Taylor told P&L.
“We also introduced self-funding, making us the first cryptocurrency that’s wasn’t funded through an ICO. I believe we’re also going to be the first to market with a truly, username-based system that can be logged into from anywhere,” he added.
Ryan Taylor stated Dash was the pioneer in bringing payments industry’s practices to the crypto industry which was otherwise dominated by mathematicians and computer science geeks.
Digitial currencies advantages
The Dash Core Group CEO said digital currencies are valuable because they can do a lot of things that traditional fiat currencies can never do.
“One of the attributes of digital currency, is that it is infinitely divisible,” he pointed. Bitcoin can go to eight decimal points currently. They can be loaded on to a thumb drive or a user can actually just memorize a seed phrase of 12 words, he added.
When asked when do digital currencies do well, he replied high inflation environments while quoting the case of Venzuela, which is Dash’s second most popular market.
“There are a lot of merchant categories that accept credit cards, but the chargeback rates can be so high that the fees they incur are incredibly high.”
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