Darkcoin after RC4 Update
By Forexminute – Yashu Gola | Bitcoin, Cryptocurrency News, Litecoin | Jul 23, 2014 12:22PM BST
ForexMinute.com – With the much-awaited RC4 update currently in testing phase, we can assume that it will hit the Darkcoin market in a few weeks from now. Whilst the community is already geared up to welcome the change, their excitement is getting further amplified with an expected inflation in Darkcoin charts.
The DarkSend+ Effect
Unlike previous forks, the Darkcoin core developer EDUFFIELD is introducing something big with this update – a new transaction system called DarkSend+ that will bring more privacy and efficiency to the entire Darkcoin network. (Read here)
The idea of denominating Darkcoin homogeneously before sending the desired amount to the receiver has been well received by the community. Somewhere along the release of DarkSend+ roadmap, the Darkcoin’s market cap had hit its one-month high. In a best case scenario, its implementation in the real world will give Darkcoin a much-better competitive edge over other cryptocurrencies.
Movements from Other Altcoins
The falling credibility of Litecoin and Dogecoin is one of the major factors to help the Darkcoin market cap rise. The arrival of ASICs has almost made it impossible for Litecoin miners to earn a better ROI, while Dogecoin, being a “because I’m happy” mood, is forgetting that’s its miner rewards are depleting with rapidly occurring halvening.
Therefore, a huge chunk of miners prefers to move on to other coins, with Darkcoin being the best choice. However, there are also other equally competitive coins that could give Darkcoin a worthy fight for the next-best spot, namely Nxt. But a successful implementation of DarkSend+, as said above, will play a huge role in deciding Darkcoin’s future.
On the other hand, the inflicted regulations on Bitcoin are somewhat killing the essence of decentralization in cryptocurrencies. It is expected that there will be a minimal shift of users looking for anonymity in their transactions.
A strict analysis tell us that the aforementioned speculations will only be possible upon a successful hardfork, which Darkcoin development team is not known for delivering in recent days. Even when considering a best case scenario, the mass speculation and big sharks pumping the coin will surely bring it between $10 and $15 by next month. In case the flaws are discovered, the low demand of Darkcoin will subsequently cause a drop, like we have seen earlier.