Let’s take the limelight off Bitcoin for once.
The altcoin community is just as important as the largest cryptocurrency in the world. Presently, while several altcoins are focused on increasing their valuation, many others are focused on development. Dash has been one such altcoin that has housed proactive developers in the space. Recently, the virtual asset surpassed another major milestone.
According to reports, it was revealed that DASH had registered a total of 5000 masternodes on their network. The figure was observed in their network report.
The report listed out a market price of $124.74 for Dash and also spoke about the altcoin’s market cap and trading volume. However, a peculiar stat caught the eye as it was observed that out of a possible 5000 masternodes, only 4872 were active and enabled. This suggested that the rest of the 128 masternodes were either offline or non-functional.
It had been announced earlier this year that performance standards were further “tightened,” involving the activation of DKG Spork and LLMQs to make the network more safe and breach-proof.
The network report also touched upon the market valuation of all these masternodes on the network.
According to dashnews.org, the masternode count could have consequences on network security. The website said,
“Unlike the case for other cryptocurrencies, where an attacker can simply rent hashrate to impose threats on the network, for Dash this wouldn’t even get you started. Before you can start thinking of attacking the Dash network, up to 60% of the entire coin supply has to be under your control. Therefore, the increasing number of masternodes which reflects an increased demand for Dash coins makes it more expensive to venture into a network security breach that you will not even succeed at.”
Many proponents of the altcoin believe that alongside the likes of Ethereum and Cardano, Dash is one of the most technically sound cryptocurrencies in the market. The efforts of the altcoin’s community are always towards improving the DASH network.