@Conste11ation As mentioned above, due to the complexity of $DAG, I'll be breaking this thread into a series. Threads can get long & my aim is to have you leave them better, not bored!
If you appreciate this content, make sure to RT and spread the word. And follow me for the next parts! 🙏
@Conste11ation Before we get into it, I want to provide some well known parameters that we can use to understand why $DAG is different.
$ETH is a layer 1 decentralised blockchain. It facilitates the transaction of data across it chain and stored it in blocks.
More 👇🏻
@Conste11ation@ethereum it does this through smart contracts, Its novel creation. These allow trust-less transactions of money/assets/data.
If you're already confused here, then I would suggest reading a bit more into the above first before continuing. Only so much simplifying can be done for $DAG. 🙂
@Conste11ation@ethereum This incredible creation paved the way forward, completely revolutionising tech as we know it. $ETH has done amazing things.
But there's a few problems for it to achieve mass adoption...
1- It's too slow 2- It's too expensive 3- It doesn't integrate with centralised tech.
@Conste11ation@ethereum For a technology to truly revolutionise the world, it has to be applicable to the current state. So for blockchain & decentralisation to achieve this it has to be...
1- More Profitable 2- Better than what we have 3- Easy to change/integrate with
$DAG is a custom built Layer 0 protocol. Designed to sit underneath Layer 1's & everything else, facilitating lighting fast, almost infinite transactions per second, for free! Its purpose is to bring blockchain to the world.
A good analogy could be a Layer 0 being the roads/highways and Layer 1's being the vehicles. They're not directly connected, but the road allows them to connect with ease, wherever they are.
Which gives you a big hint as to why Layer 0 is so important.
In today's world data is everything. There are roughly 2.5 quintillion data bytes created daily, and growing fast!
Why is this important?
Because, for the world to adopt blockchain it has to be able to handle that level of data transacting.
@Conste11ation@ethereum In blockchains current form, every transaction is charged by the network to facilitate that transaction in the form of gas fees.
Could you imagine the $ETH gas fees on transacting 2.5 Quintillion bytes of data?
Not only that, but how slow would it run under that load?
Squarespace created a framework that allowed anyone to take it & easily build their own, customisable website.
State Channels will allow anyone to create their own customisable chain, in very simple steps.
it's Huge!
@Conste11ation@ethereum This means that each State Channel is in essence it's own blockchain.
Businesses can create their own crypto token, tokenomics, and integrate their current technology onto that. Allowing them to connect all their current data processes.
Behind their consensus model(how they validate transactions), Proof of reputable observation, $DAG is required to validate transactions in the form of $DAG nodes(Much more on how this works in part 2)
Unlike $BTC, for example, that only provides utility in the fact it is a store of value. $DAG not only validates the network through nodes, it is the medium of exchange between anyone interacting with the network & its state channels.
Delivering precious oxygen to every part of the body, keeping it all running. This makes holding $DAG a very attractive prospect. As the network grows, so does the value of $DAG.
@Conste11ation are already partnered with the U.S government through the Department of Defence!
Governments and regulation are often taboo words in the crypto community, but not with $DAG. They are actively working with them.
@Conste11ation@ethereum They are working with the vision to completely revolutionise the way the world handles data, from small to medium businesses, all the way to the worlds largest governments.
If they succeed, @Conste11ation has the potential of being one of the largest companies in the world.
$RIO is a true 100x+ sleeping giant in the #RWA space.
👉 One-stop platform for the trading of all tokenised assets
👉 In-house DEX with deep liquidity to facilitate seamless swaps
👉 Stacked list of industry and strategic partners