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Bitcoiners had a fierce weekend from November 11 to 12, while bitcoin fights to keep its price above $ 6,600 after plunging from $ 7,300 to $ 5,600 in just two days. As recently covered by CCN, the number one cryptocurrency has recently accumulated more than 100,000 pending transactions, in which millions of bitcoins are blocked, pending confirmation.
Bitcoin Cash, in part thanks to the cancellation of the SegWit2x rigid fork, saw its value jump this week to the point of briefly exceeding Ethereum's market capitalization to $ 30 billion. Cryptocurrency hit a record high of more than $ 2,400 before its price was corrected, to about $ 1,092.91 at the time of publication, according to CoinMarketCap data.
Dash, on the other hand, has gone relatively unnoticed by the cryptocurrency community this week, although its value has increased significantly. On November 7, Dash was about $ 275 per chip, while cryptocurrency was up 27.46% over the last 24 hours, while the chip was now worth $ 436.73 and the market capitalization of Cryptocurrency exceeded $ 3.2 billion. His push was so important, Dash reached a new record high of $ 530.94 this week.
Dash has risen for several reasons: among them, a recent update, the Bitcoin and Bitcoin Cash struggles, and various press releases published.
Increasing the size of the block
Bitcoiners recently saw the cancellation of the SegWit2x rigid fork, which doubles the size of the block in the Bitcoin network to 2 MB. This led various investors, who were expecting that the SegWit2x token "airdrop", come sell their bitcoin because they would not receive it anymore, and led various big supporters to invest in Bitcoin Cash because of its limit of 8 MB.
While a limit of 8 MB makes Bitcoin Cash the preferred cryptocurrency among the crowd of big blocks, the recent Dash update includes a block size upgrade on its network that has certainly attracted the attention of several big blockers.
In addition, Dash has its own scale-up scalability plan, which developers of a few other projects, including Bitcoin, consider to be not a good option. On an average blog post, Dash Evan founder Duffield said:
"Many projects in the space feel that scaling up the chain is impossible.This is simply because they do not have Explored other P2P architectures for higher performance.We intend to show how much a second-tier architecture can take a project like Dash. "
Dash Core Software Upgrade
This week, Dash releases a new version of the Dash Core software. With that, came various new features and improvements, including the implementation of a 2 MB block size, and a reduction in transaction fees that should attract bitcoiners tired of network charges.
The upgrade also fixes vulnerabilities, bugs, and improves the cryptocurrency system. It is part of the Dash Evolution upgrade, which is slated for the end of next year, and aims to make cryptocurrency incredibly easy to use, so everyone can benefit.
The Dash network is unique in that it allocates about 10% of block rewards to fund projects. Among them, some are promoting cryptocurrency, like Dashforce. As the network was upgraded, press releases were published on various websites, contributing to the growth of cryptocurrency.
Image from Shutterstock.