{"id":16698,"date":"2017-03-14T00:00:00","date_gmt":"2017-03-13T16:00:00","guid":{"rendered":"https:\/\/www2019.dash.org\/2017\/03\/14\/dash-surges-to-record-high-claims-0-5-mln-monthly-development-budget\/"},"modified":"2021-09-18T11:40:02","modified_gmt":"2021-09-18T11:40:02","slug":"ctbudget","status":"publish","type":"post","link":"https:\/\/www.dash.org\/news\/ctbudget\/","title":{"rendered":"Dash Surges to Record High, Claims $0.5 Mln Monthly Development Budget"},"content":{"rendered":"

Dash price<\/a> and volume have surged to all-time highs, bringing what is likely to be the largest development budget in the cryptocurrency field.<\/p>\n

This year has seen a meteoric rise<\/a> in Dash\u2019s market cap. So far, it has increased from about $80 mln in January to over $560 mln at the time of writing amounting to a sevenfold increase. This month alone it has more than doubled in value<\/a>.<\/p>\n

According to community member Tao of Satoshi, who runs the Dash Nation Slack channel and hosts the YouTube show Cash Alternative TV, Dash\u2019s recent growth spurt is hardly surprising:<\/p>\n

\u201cThis price rise is not shocking at all to anyone who has followed the project from the start. Evan Duffield and his team have been systematically solving all of the problems facing Bitcoin, privacy, transaction speed and governance. Now, thanks to an energized community (or Dash Nation, as I like to call it), the word is spreading. People who may have been interested in Dash from afar are now considering it seriously as Bitcoin\u2019s situation continues to degrade. You are seeing Dash become a legitimate competitor to Bitcoin and fiat money, so in my opinion, this is only the beginning of sustained Dash growth.\u201d<\/p>\n

Dash\u2019s built-in treasury allows for an ever-growing development budget
\nIn contrast with Bitcoin\u2019s model, where miners receive the entire block reward of newly created coins, with Dash with Dash 45 percent goes to miners<\/a>, 45 percent to master node stakeholders and 10 percent is set aside as a treasury for development and other community projects, as voted on by the master nodes.<\/p>\n

According to Amanda B. Johnson, host of YouTube show Dash detailed, as well as one an employee of Dash\u2019s DAO<\/a> paid by the treasury, the treasury system allows for the coin to capitalize on price increases to ensure its value grows even further:<\/p>\n

\u201cWhen Evan Duffield divided up the block reward for Dash \u2013 making a sort of \u201ctreasury\u201d available for development costs \u2013 he was guaranteeing that the people working on Dash would be directly affected by the coin\u2019s value. Our feedback loop has begun, where the better our developers do, the more their monthly Dash payments are worth. We can also better afford to hire as many of them as we need to scale.\u201d<\/p>\n

Dash\u2019s available monthly budget for February<\/a>, including core team budget and various community projects approved by the DAO, amounted to approximately 7,450 Dash.<\/p>\n

At the present value of about $77 per coin, that budget amounts to about $574,000 per month. If Dash increases in value, this monthly budget could grow even higher.<\/p>\n

At these rates, Johnson sees Dash\u2019s ecosystem growing<\/a> at an increasingly rapid rate:<\/p>\n

\u201cWe can afford more and better of what we already have \u2013 that is, Evolution and dashd developers; grassroots-level marketers; conference attendance and sponsorship; people testing on testnet; legal research; and an unlimited number of other tasks I personally can\u2019t think of \u2013 and surely someone else will.\u201d<\/p>\n

2017\u2019s reshuffle of the cryptocurrency rankings
\nThis year has seen a reordering of the top cryptocurrencies<\/a> as other coins vie for a shot at besting Bitcoin. Dash and Monero have pushed ahead of Ethereum classic, Litecoin and Ripple<\/a>, joining Ethereum as the top three coins making significant inroads towards Bitcoin.<\/p>\n

Those three combined are approaching 20 percent of Bitcoin\u2019s total value, with Ethereum the clear leader with over 13 percent. Bitcoin remains the vast majority of cryptocurrency\u2019s value at present, however, that total percentage has now dropped below 80 percent.<\/p>\n

By the end of the year, the cryptocurrency landscape could look radically different. Robert Genito, project lead for Wall of Coins, believes that Dash will end up at the head of the cryptocurrency pack:<\/p>\n

\u201cTechnology moves quickly, obviously and so do cryptocurrencies, perhaps even faster. However, a market of people and their decisions can move even faster, and I truly believe that by the end of this year Dash will overcome Bitcoin entirely.\u201d<\/p>\n

https:\/\/cointelegraph.com\/news\/dash-surges-to-record-high-claims-05-mln-monthly-development-budget<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dash price<\/a> and volume have surged to all-time highs, bringing what is likely to be the largest development budget in the cryptocurrency field.<\/p>\r\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[216],"tags":[],"acf":[],"yoast_head":"\nDash Surges to Record High, Claims $0.5 Mln Monthly Development Budget - Dash<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dash.org\/news\/ctbudget\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dash Surges to Record High, Claims $0.5 Mln Monthly Development Budget - Dash\" \/>\n<meta property=\"og:description\" content=\"Dash price and volume have surged to all-time highs, bringing what is likely to be the largest development budget in the cryptocurrency field.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dash.org\/news\/ctbudget\/\" \/>\n<meta property=\"og:site_name\" content=\"Dash\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DashPay\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-13T16:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-18T11:40:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/media.dash.org\/wp-content\/uploads\/dash_facebook.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"dash\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@dashpay\" \/>\n<meta name=\"twitter:site\" content=\"@dashpay\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"dash\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.dash.org\/news\/ctbudget\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.dash.org\/news\/ctbudget\/\"},\"author\":{\"name\":\"dash\",\"@id\":\"https:\/\/www.dash.org\/#\/schema\/person\/49e370ea57b37d1186318dab9e4e6513\"},\"headline\":\"Dash Surges to Record High, Claims $0.5 Mln Monthly Development Budget\",\"datePublished\":\"2017-03-13T16:00:00+00:00\",\"dateModified\":\"2021-09-18T11:40:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.dash.org\/news\/ctbudget\/\"},\"wordCount\":669,\"publisher\":{\"@id\":\"https:\/\/www.dash.org\/#organization\"},\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.dash.org\/news\/ctbudget\/\",\"url\":\"https:\/\/www.dash.org\/news\/ctbudget\/\",\"name\":\"Dash Surges to Record High, Claims $0.5 Mln Monthly Development Budget - 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