After remaining quiescent since early September, Dash has enjoyed a substantial run recently. Beginning November 12, the price of Dash shot up from $310 to visit lofty heights above $800. At press time, the currency trades for $750.
This has been an extraordinary year for cryptocurrency, and it’s tempting to attribute Dash’s rapid rise to the speculative frenzy that has seized the entire market. However, there are signs that something more may be driving Dash. Is it possible we are seeing the first steps toward increased adoption?
Today, Dash and Uphold made a joint press release to announce the currency’s integration into Uphold’s platform which allows users to buy, send and sell digital currencies using the web or a mobile phone. According to the joint statement, the new integration will allow 94% of the world’s population to use Dash.
The integration is live, and Uphold plans to add support for Dash’s InstantSend feature soon. InstantSend is an optional feature that’s native to the Dash protocol. Users who send Dash using InstantSend have their transactions fully confirmed in just a few seconds, rather than minutes or hours.
Dash Core CEO Ryan Taylor wrote:
“Uphold adds to the Dash ecosystem the fastest and easiest method yet for everyday consumers to acquire Dash. Dash already has many of the world’s largest digital currency exchanges integrated, but exchanges are generally intimidating for average users unaccustomed to trading. Uphold makes transactions much simpler than an exchange, and it supports users from most geographies.”
Uphold’s Head of Global Business Development, Colin Luce, said:
“We were eager to add Dash primarily due to the increased adoption and of real-world use cases. The organizational structure of Dash, with masternodes and proposals and the Core Group, is a recipe for long-term success, especially at a time where the vast majority of the top one-hundred blockchains and currencies are still primarily speculative.”
Dash has announced a number of integrations and partnerships this year, and each one takes the currency a step closer to real-world adoption. Some examples include:
Alt36 – This company is integrating Dash into a retail point-of-sale system. Alt36’s target market is the legal cannabis industry, which is completely cut off from the banking system due to federal regulations. At present, the legal marijuana industry is a cash business, and the costs of handling, guarding and transporting large amounts of cash are enormous. Since Dash’s InstantSend allows transactions to fully confirm in seconds, users can check out and leave the store immediately without waiting on multiple confirmations…