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DASH is up 32.4 percent in the past month, protocol update on the way

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DASH is up 32.4 percent in the past month, protocol update on the way

The price of Dash (DASH) has seen a sustained month of growth, up from $84.0 to $111.2—a 32.4 percent increase. The upwards movement may be attributed to a variety of positive news around the project, including a line-up of technical innovations slated for the protocol’s next update.

This compares to growth in the overall cryptocurrency markets of only 11.2 percent, with total market capitalization increasing from $130.4 billion to $145.1 billion.

Source: CoinMarketCap

The project’s short-term performance has also been impressive, with the coin up 20.0 percent in the past week and 9.6 percent within 24-hours.

News Impacting Dash

On the technical side, Dash Core Release v.0.14.0 was launched on the blockchain’s testnet on Mar. 28th. The upgrade, which is the next major milestone for Dash Core, includes several changes:

Long Living Masternode Quorums (LLMQs): Will reportedly increase scalability through improved consensus and expands use cases for the network.

“LLMQs will bring greater scalability to the network by only requiring the members of the quorum to perform the propagation and validation of individual votes. Nodes on the network will no longer have to verify and store all votes, reducing the load on their hardware,” according to Elizabeth Robuck, a product manager at Dash.

ChainLocks based on LLMQ: Improves network security by limiting the damage of 51 percent attacks. The change makes chain reorganizations, a type of mining attack, below the ChainLocked block impossible.

LLMQ-based InstantSend: Allows users to send transactions instantly by leveraging the new quorum to reduce the number of nodes needed to witness a message.

Related: CEO of Dash: Cryptocurrency More Than a Bolivar Hedge, It’s a Way to Survive in Venezuela

Other news includes the integration of Dash into the Equicex debit card for greater spending options and liquidity for users and the project’s growth in developing economies like Venezuela.

Assuming the market remains strong, if Dash continues to deliver improvements to its protocol and foster adoption globally, then it’s possible that the exceptional price trend continues.

Dash, currently ranked #13 by market cap, is up 9.66% over the past 24 hours. DASH has a market cap of $979.56M with a 24 hour volume of $331.35M.

Chart by CryptoCompare

Dash is up 9.66% over the past 24 hours.

Cover Photo by Florian Steciuk on Unsplash

Filed Under: Analysis, Dash, Price Watch, Trading

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

Mitchell Moos

Mitchell is a software enthusiast and entrepreneur. In addition to writing, he runs a non-profit that teaches people about the blockchain. In his spare time he loves playing chess or hiking.

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