Now, certain issues do exist in each and every single political system for which there is a strong resentment between the common folks.
Same method, the users of blockchain based cryptocurrencies are annoyed of the phenomena of growing transaction costs and a massive increase in transaction confirmation timings which is not complete to leave blockchain at all.
Developers are, indeed, sorting out things by placing adjustments, additions and code fixes in the blockchain but the situation is far from educating.
Here comes into action a completely new type of cryptocurrency termed as ‘Dagcoin’ which doesn’t need blockchain at all. Instead, it is constructed and developed on Directed Acyclic Graph or DAG-chain.
Just like a revolution or an uprising is meant to adjustment the political system of a country, Dagcoin and DAG-chain have the capability and the required potential to render blockchain obsolete and alteration the face of cryptocurrency sector totally.
Now, the question that comes up is how Dagcoin and DAG-chain can do that? Why are they being termed as two entities that are supposed to take in a revolution in the international cryptocurrency sector? We are successful to attempt to answer such questions in this post.
Dagcoin & DAG-chain solve the two major problems being faced by Blockchain
Yes! It is true! Dagcoin and DAG-chain have now solved, as mentioned in the beginning, the two main problems of transaction costs and transaction confirmation time being faced by blockchain.
Hence, preferably, they are, indeed, an entirely new section in the book of cryptocurrencies which can brand the previous chapters meaningless in their entirety.
Problem 1: Rising Transaction Confirmation Time
An external miner plays a significant part in confirming a cryptocurrency transaction done over the blockchain as the miners are responsible for sharing the processing power of their organizations in order to confirm the transaction. Understandably, transaction confirmation, in the case of the blockchain, requires a huge total of energy.
Moreover, as the number of users increases, so is the pressure and the requirement of energy to confirm many transactions happening each second. As a result confirmation of a matter might occasionally take hours in the case of blockchain and it is needless to reference over here that this is frustrating.
DAG-chain completely removes the want of an external miner. In the case of DAG-chain, a transaction is confirmed by the transaction done previous to it and the chain continues. Therefore, a transaction done in Dagcoin cryptocurrency or some other DAG-chain based crypto is confirmed within a limited minutes.
Moreover, DAG-chain is totally scalable. The transaction validation time, in a DAG-chain, is inversely proportional to the amount of users. Hence, with the rise in a yamount of users, the performance of blockchain will become even well.
Problem 2: Rising Transaction Costs
With external mining, the requirement of additional energy and a massive user base the charge of a transaction done over traditional blockchain is bound to increase.
However, there is no such scenario in the instance of DAG-chain. Cost of a transaction done with Dagcoin cryptocurrency with a merchant or over a Dagcoin exchange is merely 0.0005 US Dollars by no scope of increasing.
Since the performance of a DAG-chain improves with additional number of users; there is, absolutely, no chance of any such scenario coming up which requires incrementing the transaction price.
What else does Dagcoin offer?
Dagcoin provides its own business stage for merchants termed as DagPay. Merchants can register themselves, free of cost, with Dagcoin Merchant Finder and utilize DagPay to send or accept payments in Dagcoin.
The user-friendliness and convenience associated with the utilization of Dagcoin are unmatchable with any existing cryptocurrency creation it a favorable candidate for international adoption.
Dagcoin & DAG-chain are, indeed, a revolution in the cryptocurrency segment and if blockchain is not able to get the two main problems, as discussed above, solved on a priority basis then time is not far when blockchain might become a thing of the past and DAG-chain takes over the entire cryptocurrency section.