{"id":15283,"date":"2017-11-13T00:00:00","date_gmt":"2017-11-12T16:00:00","guid":{"rendered":"https:\/\/www2019.dash.org\/2017\/11\/13\/all-eyes-on-dash-as-currency-surges-60-despite-crypto-market-turmoil\/"},"modified":"2021-09-18T11:39:04","modified_gmt":"2021-09-18T11:39:04","slug":"alleyes","status":"publish","type":"post","link":"https:\/\/www.dash.org\/news\/alleyes\/","title":{"rendered":"All Eyes On Dash As Currency Surges 60% Despite Crypto Market Turmoil"},"content":{"rendered":"
It\u2019s been a tumultuous week for cryptocurrencies, yet with all eyes on\u00a0Bitcoin and Bitcoin Cash<\/a>, the digital currency Dash has experienced an impressive surge over the past 24 hours. Earlier in the day, Dash was valued at $319 each. Less than 12 hours later, the price had surged to $520 before retreating to $460 at press time.<\/p>\n Among a sea of red, Dash stood out as one of the day\u2019s biggest gainers, up over 60 percent at its peak. The obvious question is why.<\/p>\n As Bitcoin\u2019s big blockers gave up hope following the cancellation of SegWit2x, Dash had already begun the process of activating a\u00a0block size upgrade<\/a>\u00a0on its own network, boosting blocks to 2MB. While\u00a0Bitcoin Cash<\/a>\u00a0is by far the favorite of the big block crowd, it\u2019s possible some have placed at least a portion of their funds in Dash.<\/p>\n Earlier this year, Dash received some positive attention from big blockers\u00a0Roger Ver<\/a>\u00a0and\u00a0Charlie Shrem<\/a>.<\/p>\n Dash has its own scalability plan, and it\u2019s chosen an on-chain path. Rather than deploying payment channels like Bitcoin\u2019s experimental\u00a0Lightning Network<\/a>\u00a0or Ethereum\u2019s planned\u00a0Raiden Network<\/a>, Dash intends to use ultra-large blocks.\u00a0Dash\u2019s founder Evan Duffield<\/a>\u00a0posted on Medium\u00a0earlier this year<\/a>:<\/p>\n \u201cMany projects in the space believe that on-chain scaling is impossible. That\u2019s simply because they haven\u2019t explored alternative P2P architectures for higher performance. We intend to show just how far an incentivized second tier [masternode] architecture can take a project like Dash.\u201d<\/p><\/blockquote>\n The bigger blocks come as part of a network-wide upgrade to version 12.2 of the Dash software. Core developer\u00a0UdjinM6 posted<\/a>\u00a0on the Dash forums:<\/p>\n The most notable changes are:<\/p>\n These changes help pave the way for Dash Evolution, expected later next year. Evolution aims to make cryptocurrency use so simple that \u201ceven your grandma [could use it]<\/a>.\u201d Since Evolution is expected to be a major upgrade, any steps toward that goal are likely to be favored by the market.<\/p>\n When Dash\u2019s price rose rapidly in March of this year, many believed that pump and dump teams were at work. We\u2019ve seen such\u00a0pumps and dumps repeatedly this year<\/a>, as big money quickly buys up an asset, squeezes the shorts, then sells once new investors come in and push the price even higher.<\/p>\n Pump and dump teams are something that no project has any control over, and while most currencies would prefer gradual, organic growth, sometimes market manipulators have other ideas.<\/p>\n Whether due to pump and dump teams or because of sudden appreciation of the project\u2019s prospects, Dash has experienced an unprecedented surge while the overall market dropped. Of the top 10 currencies by market capitalization, Dash is up 33 percent, Ethereum is up four percent and Monero is up seven percent. The others are all flat or down. Indeed, 36 of the top 50 currencies by market cap are in the red today.<\/p>\nBig blocks activation<\/h2>\n
Version 12.2 and Evolution<\/h2>\n
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Pump and dump teams at work?<\/h2>\n
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