So, are we a DAG? Yes. But we're also a blockchain. Here's a 🧵 on how it works in the $AZERO case.
Consensus protocols define how decentralized ledgers decide on a single version of the truth. There are two dominant paradigms used by consensus protocols: Proof-of-Work (PoW) and Proof-of-Stake (PoS).
Aleph Zero takes advantage of a heavily modified variation of the PoS consensus methodology in conjunction with Directed Acyclic Graphs (DAG).
At its core, Aleph Zero employs a PoS consensus algorithm in which a rotating committee of validators decides on the truthfulness of the state of the blockchain. This makes it similar enough to other blockchains employing PoS methodologies. So why use a DAG?
Aleph Zero employs a Directed Acyclic Graph (DAG) as an intermediary data structure in the creation of its blockchain, which results in subsecond time to finality.
DAGs are associated with the world of mathematics and computer science but have recently made waves in the blockchain industry. From a technical standpoint, using DAGs allows for faster transaction speeds and higher throughput and hence significantly lower transaction fees.
The low cost of the technology makes it feasible for mass adoption.
One of the biggest obstacles towards scaling blockchains is effectively ordering the transactions conducted on the network. By taking advantage of DAGs, we can eliminate the threat of malicious block producers and create truly leaderless protocols.
Interested in learning more? Check out #Fundamentals, our latest blog series: alephzero.org/blog/aleph-zer…
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