LONDON, UK, April 2, 2024 (GLOBE NEWSWIRE) — Recent release of BlockDAG Network’s technical whitepaper —DAG paper V2, marks an important milestone in the blockchain industry. Following last week’s announcement, the team made good on its promise and released a document known as DAG Paper V2 on Monday. This white paper is available on the project’s website, Instagram, Xand Telegram detail how BlockDAG Network’s breakthrough advancements and operational strategies in the blockchain space have changed the industry forever.
BlockDAG and its technology:
Blockchain technology has long been hailed as having the potential to revolutionize various industries and personal lives. However, traditional linear blockchains face an inherent limitation known as the blockchain trilemma. BlockDAG Network has emerged as a solution to this trilemma by introducing a protocol that forks from traditional linear blockchains.
Unlike Bitcoin and Ethereum PoW-based networks where miners play a key role in block creation, the BlockDAG network introduces a pioneering protocol that utilizes a directed acyclic graph (DAG) structure to organize blocks. doing. Unlike traditional architectures where a block references one previous block, a block in a BlockDAG references all leaf nodes of his DAG. This innovative approach allows for the inclusion of more blocks, accommodating additional transactions and achieving higher throughput.
The use of directed acyclic graph (DAG) structures ensures security, scalability, and democracy. By blending the benefits of blockchain and DAG architectures, BlockDAG provides high throughput and fast transaction speeds while maintaining robust security measures.
BlockDAG and its security:
Central to the BlockDAG protocol is the ability to distinguish between honest and fraudulent blocks within a DAG. BlockDAG leverages innovative algorithms such as PHANTOM and GHOSTDAG to prioritize the inclusion of honest blocks and ensure the integrity and consistency of transactions in the network.
GHOSTDAG sorts blocks in the queue based on references from previously validated blocks, giving priority to heavier blocks. This will encourage miners to build on the most widely accepted sections of her DAG and effectively establish comprehensive transaction orders.
PHANTOM assumes honest majority participation by miners, recognizing the risk that a malicious majority could compromise the functionality and security of the network. The GHOSTDAG algorithm prioritizes blocks with more references, strengthening the advantage of honest majority chains over time and reducing the effectiveness of malicious attackers’ attempts to subvert the network. further protect your PHANTOM network.
BlockDAG and its uses:
With a total supply of 150 billion coins, BlockDAG Coin (BDAG) aims to establish fair and sustainable distribution. Technical White Paper (DAG paper V2) outlines the BlockDAG network’s current progress and future roadmap development, from the launch phase to ecosystem expansion and integration of innovative solutions.
BlockDAG Coin (BDAG) serves as the native token of the BlockDAG ecosystem, facilitating various operations and interactions within the network, including mining, spending, staking, and accessing decentralized applications (dApps). BDAG serves as a medium for mining, spending, building, and earning. It also facilitates transaction fees, peer-to-peer (P2P) transactions, and validator rewards, fostering a dynamic digital economy within the blockchain space.
The BlockDAG Network team invites blockchain enthusiasts, developers, and stakeholders to join us on our journey towards a more inclusive and efficient blockchain ecosystem. BlockDAG Network aims to revolutionize decentralized systems, combining our commitment to innovation and security with a wide range of capabilities to pave the way to a more efficient and inclusive digital future.
For more information and access to technical whitepapers, please visit the BlockDAG Network official website. Website
Read the summary BlockDAG presale:
Website: https://blockdag.network
Advance sale: https://purchase.blockdag.network
telegram:https://t.me/blockDAGnetworkOfficial
discord: https://discord.gg/Q7BxghMVyu
Disclaimer: The information provided in this press release is not a solicitation to invest and is not intended as investment advice, financial advice or trading advice. Before investing in or trading in virtual currencies or securities, we strongly recommend that you exercise due diligence, including consulting with a professional financial advisor.
CONTACT: Brown Williams support(at)blockdag.network
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