DAG:submitted by rnssol to AllAboutRNS [link] [comments]
Directed Acyclic Graph (DAG) is an outline which is more expressive than an absolutely linear model. A DAG is an information or data structure which can be utilized to demonstrate diverse problems. It is an acyclic graph in topological ordering. Each directed edge has a certain order followed by the node. Every DAG starts from a node that has no parents and end with one that has no kids. These graphs are never cyclic. A DAG comprises of a set of nodes and arrows where arrows are directed from one node to another.
In simpler terms, DAG is a graph that flows in one direction and elements cannot refer back to themselves. Hence, DAGs are not cyclic.
DAGs in Cryptos:
Did you hear the term DAG coins and thought it’s a name of a new crypto? If yes, then you are probably close to the idea… Actually all digital coins that make use of DAG (directed acyclic graphs) are called DAG coins.
The basic purpose of blockchain based cryptocurrencies was to provide a decentralized, scalable, robust and a fast replacement for financial transactions across multiple mediums. As a matter of fact, all the credit for such a revolutionary idea goes to blockchain. But, is blockchain efficient enough to provide all of this?
Well, not so far. Blockchain has limitations in speed-TPS and scalability- size of the block, Interoperability, and Sustainability.
Many crypto makers are now looking forward to implement DAG instead of blockchain to achieve a different work structure than that of blockchain. DAGs can enable multiple nodes to exist at the same time for recording transactions while in blockchain only one block is used for recording transactions (two blocks cannot exist simultaneously) at a time and a new block is created about every 10 minutes. The blockchain system based on POW slows down due to the miners competing over mining every next block.
DAG can overcome the single chain issue of blockchain by enable multiple chains to exist on the system simultaneously. It may make block less distributed records another standard in the realm of crypto.
DAG or Blockchain:
Blockchains sequential structure hinders significantly the transaction throughput. If the time of mining remains untouched a DAG of blocks can extend the storage by X times with X blocks on the network at the same time. The blend of blockchain with DAG still originates from side-chains. Distinctive sorts of transactions are running on various chains all at the same time. DAG of blocks still depends on the idea of blocks.
It is different from Blockchain. Blockchain is actually a cryptographically verifiable list of records of things that have happened in the past. It has a linked list data structure and every new entry is linked to the previous one such that you can verify it back to the beginning of history. This is how the blockchain is established. This flat sequential nature is the drawback that is apparent in Bitcoin. That is when the scaling issues arise. Even if you increase the size of the block or increase the speed of the new blocks’ creation making it more rapid, still there are a lot of trade-offs.
DAG based cryptocurrencies actually suggest to turn to a completely new data structure altogether. DAG is a completely different form of data structure. It follows a linked graphic data structure where the links are unidirectional. Acyclic means that the nodes cannot refer back to themselves and hence cannot loop. It simply acts as a flow chart where all information is flowing in one direction. It can have multiple parallel nodes that might join back at a single node. You may also relate it to a file directory structure.
The benefit is that every node and arrow does not need to be sequential by nature.
Differences that exist in DAG are:
One of the most commonly known DAG coin is IOTA. They call their DAG Tangle. It removes miners completely from the verification process. For broadcasting every transaction you have to validate two previous transactions in order to get their transactions processed. Everybody is participating in the consensus which makes it even more decentralized. The name itself refers to the term IoT- internet of the things.
MIT disclosed a number of mistakes in this data structure and functioning. IOTA would take only 33% of the network power (number of nodes and some amount of PoW attached to every transaction) in order to generate an attack. In such a small network, that IOTA is currently, it won’t be very hard to achieve. Currently they have a central system to validate all transactions which is claimed to be only for the time being but it eliminates decentralization from the system. Currently people claim that IOTA is slow to use. That’s because they don’t have enough full nodes out there to process all the transactions. The network still needs to grow enough to become effusively decentralized.
It uses a DAG in the place of a traditional Blockchain. Their main net has been out longer than that of IOTA and is similarly a DAG based coin. It has a native currency called Bytes but it does not completely get rid of transaction fee as IOTA does. They have transactions fees implied to avoid scams. Their data structure is very similar to that of IOTA. Here the difference is that you have to pay a fee which will be awarded to the 12 witnesses who are responsible for verifying all the transactions. It eliminates the need to have everybody involved in the verification process. They allow you to achieve more than what you could achieve with IOTA. It has a conditional payment platform is not very robust. They have their privacy coins on the network as well for those who prefer privacy. They have enabled instant messaging systems in their wallets too. It still lacks decentralization as all the validation will be done by the 12 witnesses who will know the real life identities of people as well. They are trying to achieve too much at once which might end up worse. This implementation of DAG is only of a centralized computerized payment system.
It is an almost instant, fee-less and infinitely scalable medium for transactions. It also has no miners hence no transaction fee. It has public non-shared ledgers. Every individual has their own block (similar to blockchain) which they verify themselves. This implements PoS called “Balance of vote”. It is an open source project. They have no pre-miners and no ICOs. They have their network and wallet established. The hashing Algorithm this uses is SHA3/Blake2, ED25519 elliptical curve. It is providing unlimited transaction throughput with zero network fees. The problem is that they have a small team hence it is not well developed. This coin is innovative but implements new technology which could produce its own set of problems as it scales.
Fantom claims the world’s first DAG based smart contract. It implements the architecture of DAG in the distributed ledger technology. It resolves the issue of speed and scalability present in today's blockchain based smart contracts. It can enable 300,000 transactions per second with fee less than a cent. The transactions will be made asynchronously with instant confirmations. It is aimed to be infinitely scalable. This system will have a lot of bonuses and transparency for trust. It has broad applications in the current market from food-technology to IoT. They call their DAG Opera Chain. It supports verification of people, community management and financial services etc. They use Fantom Virtual Machine (FVM) which will allow executive smart contract bi-code efficiency across all operating systems. The project aims to improve on newer blockchain platforms that are also DAG-based such as IOTA, Nano, Byteball etc. These platforms improve on current blockchain scalability as nodes are designed to process transactions asynchronously.
Fantom differentiates itself by incorporating smart contract DAPP infrastructure into a DAG-based platform so that it offers instant payment, near zero cost (under $0.01 from one wallet to another), and infinite processing scalability.
We do not have any knowledge of successful implementation of DAG as claimed by many projects though it is promising and looks useful for crypto ecosystem.
Double MaxBlockSizeElse if more than 90% of block's size, found in the first 2000 of
Keep the same MaxBlockSize===Proposal 2 : Depending on previous block size calculation and
MaxBlockSize = TotalBlockSizeInLastDifficulty * MaxBlockSize /TotalBlockSizeInLastButOneDifficulty
MaxBlockSize = TotalBlockSizeInLastDifficulty * MaxBlockSize /TotalBlockSizeInLastButOneDifficulty
Keep the same MaxBlockSize==Rationale==
Prior to this project, Joseph Poon collaborated with Thaddeus Dryja to develop Plasma’s Bitcoin equivalent of Lightning. Both frameworks are trustless and multilayered networks. Trustless means users do not need to know or trust counterparties to make a transaction. Poon and Buterin developed Plasma to facilitate a decentralized market for the general public to purchase not only tokens and ... What is bitcoin lightning network? The Lightning Network, first proposed by Thaddeus Dryja and Joseph Poon in a 2015 white paper, creates a layer on top of the bitcoin blockchain, where ... Bitcoin Development Lightning Network. Joseph Poon and Thaddeus Dryja published the Lightning Network white paper in January 2016. “The Bitcoin blockchain holds great promise for distributed ... Das Lightning Network ist ein BIP, der erstmals im Jahr 2015 von Joseph Poon und Thaddeus Dryja bekanntgegeben wurde. Es möchte den Bitcoin skalierbar machen, indem Sofortzahlungen eingeführt werden, die off-chain – also ausserhalb der Blockchain – stattfinden. „Ein Netzwerk aus Micropayment-Kanälen zu erschaffen, ermöglicht es, den Bitcoin zu skalieren und Micropayments vorzunehmen ... /r/btc was created to foster and support free and open Bitcoin discussion, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top...
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