Dagcoin: A blockless cryptocurrency
Do you know about Byteball? It is the cryptocurrency which is currently valued at $686 per coin and Rank #30 in
coinmarketcap.com . Instead of blockchain, byteball uses a unique data structure called DAG (Direct Acyclic Graph) or known as "Cryptocurrency without blocks".
There are only 3 cryptocurrencies that uses DAG chain at present:
IOTA
In the end of 2015 a cryptotoken optimized for the Internet-of-Things (IoT)
industry called IOTA, was introduced. Instead of the global blockchain, the
main innovation behind IOTA is a DAG that they call Tangle – a blockless
distributed ledger which is scalable and lightweight. IOTA is currently still in Beta.
Byteball
Byteball was introduced in the middle of 2016. Byteball is a decentralized
system that allows tamper proof storage of arbitrary data, including data that
represents transferrable value such as currencies, property titles, debt, shares,
etc. There is an internal currency called ‘bytes’ that is used to pay for adding
data into the decentralized database. Other currencies (assets) can also be
freely issued by anyone to represent property rights, debt, shares, etc. Users
can send both bytes and other currencies to each other to pay for goods/services
or to exchange one currency for another.
and finally the new cryptocurrency that is built on top of Byteball, the manifestation of DAG itself.....
Dagcoin
Dagcoin is the first asset built on Byteball’s platform and network, apart from
Byteball’s internal currency bytes. Dagcoin and Byteball evolve hand-in-hand:
Dagcoin benefits from the developments of Byteball and vice versa. The
popularity of either one improves the network effect for the other one.
Dagcoin as a cryptocurrency
- 1 000 000 000 coins – suitable amount of coins for both big purchases and also micropayments
- Decentralized – first external cryptocurrency on Byteball peer-to-peer network which gives you the control over your money
- Continuous development – huge community is developing the platform and the wallets
- Eco-friendly – no mining hence no heavy use of electricity
- 24/7 transactions - crossbank, crossborder, any time, anywhere
- Fast transactions – processing time of payments is only a few seconds
- Cheap transactions – low network running costs mean low transaction fees for users
- Secure – no risk of exposing your personal or card details
- Easy to use - everyday currency for paying everywhere with mobile phone
- Vast ecosystem – games, merchants, financial services, payment solutions
- Valuable – high demand for this next generation cryptocurrency
- Strong vision – DAG is the future of financial world and cryptocurrencies
- Multisignature – possibility of several signature requirement for payments
- Conditional payments – possible to set a condition when the payee receives the money, otherwise you can take the money back
- Mobile payments – no need to carry your cards or wallet, just your phone
- Fair Distribution – smaller amounts of coins are distributed to more people who have completed educational courses, no big speculators or traders
***Other important links and references
https://dagcoin.org/en - official website
https://github.com/dagcoin/dagcoin - Dagcoin sourcecodehttps://bitcointalk.org/index.php?topic=1177633.0 - Announcement page
https://github.com/dagcoin/dagcoin/releases - Wallet (Beta)
Dagcoin will start their 3 month pre-launch period on the 1st of July 2017, and they are now open for private investors.
Instead of using the usual ICO/Crowdsale, where the only people who gets to buy and participate are cryptocurrency enthusiasts, Dagcoin uses a different approach. They aim to educate every regular people who does not know about cryptocurrency, and build trust as well. Thus, making a stronger demand with exponential growth potential versus their total and limited supply of 1 Billion Dagcoins.
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For those who wants to buy Dagcoins, just go to https://daguniversity.com/en/registration/4003536 and use these affliate.
Come on and hurry! Buy your Dagcoins now before it gets into public exchangers (i.e Poloniex or Bittrex) within this year 2017.
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Credit:@tsarbomba