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Dash Plans to Introduce Elements of PoS Algorithm to Stabilize the Price

10 December 2019 15:42, UTC
Dash Plans to Introduce Elements of PoS Algorithm to Stabilize the Price

In light of the low Dash price performance in 2019, Ryan TAYLOR, CEO of the Dash Core Group, discussed the company's new plans for improvement in 2020 at the recent Dash Evolution Open House event, where he proposed introducing elements of the PoS algorithm.

Taylor emphasized that the PoW mechanism brings very little profit, explaining that during a sharp rise in prices, miners spend profit on new types of equipment and operations. This leads to a decrease in the volume of coins in circulation on exchanges. Taylor also notes that during the fall in prices, the consequences are even more serious, since at that moment the miners are trying to sell off their coins on the exchange in order to cover losses, which contributes to a further serious price collapse.

15.07.2019  |   in Cryptocurrencies
Taylor suggested that the Dash Core Group could introduce PoS elements into the ecosystem to minimize price anomalies. The CEO listed a number of changes that were planned, and emphasized that the primary task is to reduce the amount of rewards for blocks in PoW mining, so that seller pressure can be minimized during a price drop.

Dash price was about $75 at the beginning of the year, and at the time of publication it is estimated at $51 — in 2019, the price fell by almost 33%.



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