XDAG is based on DAG
XDAG is a novel application of Directed Acyclic Graph (DAG) technology that solves the issues currently facing blockchain technology.
The DAG chain and XDAG has numerous benefit that makes it unique, suitable for everyone around the world more than a blockchain based cryptocurrency.
A brief explanation of what DAG is about.
What is DAG?
DAG (directed acyclic graph) is a directed graph with no directed cycles, that uses a topological ordering. DAG is an alternative method for sending data amongst people within a distributed, decentralized environment. This is done without a blockchain, allowing for greater scalability.
As we all know Dagger is part of a new wave of Distributed Ledger projects based on a DAG infrastructure which directly implies it has numerous benefit using DAG technology on XDAG platform which include the following;
Since XDAG is a DAG-based cryptocurrency it’s capable of handling hundreds of thousands of transactions per second. It increases the speed and stability of transactions as the user network grows. Since the passing of information is not limited to one chain but can be pass in a parallel allowing more than one chain to exist at any time.
The mechanism of multiple transaction confirmation in cryptocurrencies based on DAG allows to increase the reliability of payments and reduce the chance of “double spending” Since the DAG network only need verification of two close nodes this will surely ensures the reduction of costs for all users on the network.
XDAG is the decentralized and first minable DAG cryptocurrency, which has technology’s sequential solution and increased efficiency. Block = transaction = address Original main chain idea Mining new money every 64 seconds. XDAG is both CPU & GPU mineable.
The multi-point connections of DAG technology’s logic ensures that tampering with records is impossible. XDAG is working on incorporating more privacy features in the future.
DAG-chain transactions are conducted without any physical mining and are therefore far more energy efficient. That’s because every transaction is validated by the transaction itself, cutting costs to network users as well as cutting down on energy consumption.
Lastly scalability and prompt timing on the execution of smart contract, also makes DAG network very beneficial to XDAG platform and we know we’re the future of cryptocurrency.