Cryptocurrencies have taken over the world’s financial outlook and have been dominating the scene for a few years now. Every day, they make the news, for one reason or another: more projects are developed, the price has peaked or collapsed, or there have been new developments when it comes to regulating them. Every day, we see something new, but they don’t stop making headlines.
Dash and Ripple are both successful projects that came up to prominence in their quest to find solutions to Bitcoin’s issues. Bitcoin is the real market leader, but Dash and Ripple have managed to develop trustworthy platforms that can perform transactions in a smoother way and at a faster rate.
Dash is based in the blockchain, while Ripple has its own protocol to verify transactions. However, a new and promising platform is threatening to enter the elite of the industry, and it is named Dagcoin. It is a project based in Estonia that functions by leveraging the Directed Acyclic Graph organizational model for the structure of its decentralized ledger, a setting that fosters the solution for old problems.
The system is shooting for more effectiveness and efficiency than blockchain-based digital assets and can guarantee quicker and cheaper transactions: in fact, as the network grows, the transactions will be quicker. In this article, we will assess Ripple and Dash while spotting Dagcoin’s primary attributes.
What is Ripple and how does it measure up to Dash and Dagcoin?
Ripple is a household name in the crypto industry, used to refer to a platform and a currency. The former is an open source protocol that lets people perform quick and cheap transactions, while the latter is the project’s associated digital asset or cryptocurrency.
The XRP token is the joker of the cryptocurrency world. Each XRP represents the transfer of value within the Ripple ecosystem. It serves as a mediator for other exchanges.
Ripple, unlike Bitcoin, Ethereum, and the top altcoins in the market, doesn’t have a Blockchain. Instead, it uses its proprietary Ripple Protocol Consensus Algorithm (RPCA) to verify transactions made in the ecosystem.
Is Ripple a good investment? Well, right now, the value of each XRP is $0,327387, up 12,30% in the last 24 hours. Considering that the current crypto market crash is, according to experts, expected to end by the end of 2019, and that Ripple was worth up to $3.32 a little more than a year ago, we know that Ripple can reach a high value, with 10 dollars being a possibility for later down the road.
Ripple’s, or XRP’s, price prediction for 2020 has it reaching approximately $1.20. So next time you are asking yourself the question “Should I invest in Ripple?” the answer should be a resounding yes. The best thing is that you can store lots of XRPs now in your wallet because the market behavior is the primary reason why Ripple price has been going down in the past few months. However, having a solidly built protocol and letting people perform almost any transaction in no time; the utility is evident, and more people are likely to adopt it.
Having reviewed Ripple’s coin price prediction and assessed how high will it go, stop asking yourself, “should I buy Ripple now?” and act quickly before it is too late. Ledger Nano S, Toast Wallet, Exarpy Wallet, CoinPayments, Edge, and Abra are the best wallets for Ripple: go fill them up!
Dash vs. Ripple vs. Dagcoin: Meet Dash and its masternodes system
Dash is, basically, Digital Cash that the holder can use for various things. It is a cryptocurrency, one of the world’s biggest by market cap (the 15th at the time of this writing, trading at $69.57) and it represents a perfect way to send money over the Internet to another “peer,” whether it is a retailer, a friend, a family member, or any other agent, with no middlemen.
The Dash project is open source, and functions as a peer to peer (P2P), decentralized cryptocurrency that focuses on privacy. The Dash Core team has nearly 50 staffers who are working tirelessly to improve the protocol.
The short version is that Dash is an attempt to improve Bitcoin’s shortcomings. The development team based on Bitcoin’s model and came up with the Dash cryptocurrency, which can be stored in a Dash wallet.
The similarities between Bitcoin and Dash are evident. Both can help you make investments or purchase things online, and both of them run transactions over a blockchain network. Mining Dash is also possible. However, Dash is significantly faster to confirm transactions (about four seconds) than its counterpart (around ten minutes,) and more private, too.
Transactions fees in the Dash digital currency aren’t as high (around $0.4) than those of Bitcoin (around $6) The Dash miner implements computing equipment to look for solutions for math problems with high difficulty levels. For every right solution, a new block is added to the blockchain, and Dash coin mining process is fostered since the miner receives rewards in the form of the recently created Dash coin.
To understand more about the Dash crypto, it is crucial to understand what exactly Dash masternodes are. They function just like Bitcoin’s full nodes, but they need to provide a service to the network. They create a second-tier network, following a Proof of service algorithm, and interact over the regular first tier network of miners. To run a masternode, the person needs to make a sizable investment.
If you want to learn how to buy Dash, the process is straightforward. You need to get a Dash coin wallet, then get your Dash address. After that, go to an exchange and register, then buy Dash through the brokerage service or trading platform, and the final step involves the withdrawal of the tokens to your dashcoin Wallet.
Dagcoin and the Directed Acyclic Graph model: is it any better than Ripple and Dash?
Dagcoin is a cryptocurrency, the first one trying to target developing markets with the capability of being a currency for everyday use. It leverages the Directed Acyclic Graph organizational model for the structure of its decentralized ledger, allowing old problems to be solved and new features to be added.
Directed Acyclic Graph (DAG) consists of a directed graph data structure that uses a topological ordering. The sequence can only go from earlier to later. DAG is often applied to problems related to data processing, scheduling, finding the best route in navigation, and data compression.
Dagcoin is different because it was built on top of the byteball network. Byteball data is stored and ordered using the directed acyclic graph (DAG) rather than blockchain technology. This allows all users to secure each other’s transactions by referencing earlier transactions created by other users and also removes scalability limits associated with blockchains, such as block size issues.
The consensus algorithm used to protect from double-spends is based on establishing a total order within the DAG. This is achieved by selecting a chain, called the main chain, which gravitates towards units issued by commonly recognized reputable users — witnesses.
Dagcoin is using byteball as an underlying network, but it is a new asset. It will have the same functionalities as Byteball: chatbot, conditional payments, decentralized exchange, P2P payments, and more.
DAG-chain aims to be more effective and efficient than blockchain-based cryptocurrencies. While the blockchain system is vast, its good qualities like speed and low cost can suffer from an increasing number of users. DAG-chain, however, does the opposite – as the number of users increases so does the speed of transactions. The cost of transactions decreases in turn.
The DAG network chooses an existing later transaction to link to when a new transaction happens. The goal is to keep the network width within a certain range that can support quick transaction validation. Another feature is that there is no mining involved, as the validation of transactions goes directly to the transactions themselves. For users, this means transactions go through almost instantly.
The ecosystem around Dagcoin consists of Dagpay, Merchant Finder, SwipeX and DagWallet. Dagpay is a payment processing platform; Merchant Finder is a network of companies that accept Dagcoin payments, DagWallet is a compatible wallet with Mac, Android, Windows and Linux, and SwipeX is a currency exchange.