PRESS RELEASE: Not BTC. Dash and Litecoin Are Seen As Major Competitors by Bitcoin Cash Community

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A recent post on subreddit suggested that bitcoin cash community sees Dash and Litecoin as a major competitor though there other payments-associated coins too. In fact, the community is not worried about the traditional rival, i.e., bitcoin since the digital currency is moving towards a settlement layer from being digital cash. That meant there are enough reasons to feel the heat among the virtual assets community.

Privacy Features

An original post highlighted the reasons behind the threat though Litecoin is enjoying higher market cap. One of the reasons is that Dash is a big and passionate virtual asset and is also the crazy community. Significantly, Dash is enjoying easy to use privacy features that were developed into their wallet software. As a result, the digital coin is gaining a fair amount of acceptance among merchants. Similarly, the virtual asset is having an instant send feature enabling users to experience secure zero-conf payments.

BTC is not the competition: Dash & Litecoin are. from r/btc

Due to ease of use, Dash culture is termed as uber focused one. Though the majority of comments appear to demonstrate general agreement, there was also occasional hostile disagreement to them. For instance, some have started comparing the two digital currencies more as close to allies than rivals.

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There are also some who pointed out several competitive similarities on dash and bitcoin cash focusing on bitcoin’s original vision to offer a peer-to-peer electronic cash system around the globe. Similarly, the two are operating through a decentralized structure and leverage proof-of-work mining to not only process transactions but also distribute virtual assets. Essentially, the two projects offer the same base project, and both have focused on instant acceptance of point-of-sale transactions.

However, there are differences between dash and bitcoin cash since the former offers additional features and infrastructure. For instance, dash has kept 10 percent to a decentralized treasury rather than distributing coins to miners. This would help to pay for development, as well as, other projects. The remaining block reward is split among the master nodes and miners evenly. Dash is also in existence even before bitcoin cash entered the scene.

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