Veteran privacy coin Dash fades from the market, dropping to 85th in market rankings, with block production suspended for over 24 hours.

Dash paused block production due to issues with a version update, but Dash is no longer among the top ten cryptocurrencies by market capitalization. Even with the halt in production, there hasn't been much user attention, and the price hasn't seen significant fluctuations.

Dash Halts Block Production

The blockchain explorer shows that the last block produced by Dash, block 1874879, was around noon on May 22nd (Taiwan time). Chief Technology Officer Samuel Westrich tweeted that there was an issue with the v19 update causing the block production to halt, and they are currently investigating the matter.

Dash Core developer @DashBoost_Pasta replied to the tweet, stating that after several hours of active troubleshooting, the preferred solution is to release a new version to address the issue. The alternative option is to delay the v19 update to allow more time to identify the problem.

We've continued to investigate over the last ~8 hours. We've identified a few issues and are working on a fix. We will have a hot fix release in the near future. There are two options we are investigating, and everyone is focused on promptly resolving this issue. (1/n)

— Pasta (@DashBoost_Pasta) May 22, 2023

Dash New Version v19.1.0

The developers have ultimately released the new version v19.1.0 and urge that once a significant number of masternodes and miners upgrade, the issue of halted block production will be resolved.

v19.1.0 mentions that the new version enforces a mandatory hard fork for all nodes, requiring all v19.0.0 nodes to upgrade for proper synchronization.

The official Dash Twitter account also urges users to update promptly.

❗️Please upgrade to v19.1.0 https://t.co/W94yo08Kie

This release should resolve the chain stall once a sufficient number of masternodes and miners have upgraded. Please be aware of the known issues listed in the release announcement. A reindex may be needed.

— Dash (@Dashpay) May 22, 2023

Dash Gradually Fading from the Market

On the evening of May 22nd, Binance exchange announced that Binance Pool would temporarily suspend the distribution of DASH mining rewards and also halt DASH withdrawals.

Dash was once a top ten cryptocurrency back in 2017, but with the rise of various public chains, L2, and DeFi projects, investors have gradually lost interest, causing it to no longer be a market focus, and its market cap ranking has dropped to 85th place.

Prior to the production halt on May 22nd, the DASH price had dropped by 2%, seemingly anticipating a resolution to the block production issue. It rose by 3% on the morning of the 23rd.