@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.
After covering everything about $DAG, I think it's clear that they have what it takes to truly change the space forever!
So how does that happen?
What issues might they face?
What could $DAG be worth?
Here are my thoughts... 👇
Before we crack on, I've linked the first 3 parts below! If you want some solid context as to how this future is going to be created, make sure to give them a read! 🙂
I had worked my ass off for 3 1/2 years, building up to 50 employees, & within 6 months of covid I was accepting pocket change for my company so I could get out!
Life deals you hard lessons, regardless of wether you “deserve” it not…
At the same time my partner left me unexpectedly and because of Covid I couldn’t go and see my family. It was the hardest time in my life!
Honestly, one of the only times I felt like what was even the point?
But life goes on…
I realIsed throughout that time that the most valuable lessons in life always come wrapped up in the greatest pain.
For the man who is brave enough to stare it down and take ownership of it, whilst accepting what’s happened with forgiveness, only better days await…
So far we have covered everything about $DAG & EXACTLY how it's possible with HYPERGRAPH.
It's all good having a network that can achieve mass adoption, but how are they going to integrate the world onto it?
Time to find out! 👇🏻
Just want to say quick thank you to everyone for the feedback and support of the first 2 parts! I'm pumped I've been able to offer content that has helped people understand. 😀
If you haven't seen the first 2 parts, make sure to check them out! 👇🏻
- $DAG is bringing blockchain to the world through its custom designed layer 0 network, called Hypergraph. It is fee-less, & can process almost unlimited transactions per second.
And although I understand there is a chance it could happen, im comfy in my positions because I put in a high level of DYOR before I jump into anything!
It’s not bulletproof, but it definitely works…
What makes me most angry is we have sooooo many “influencers” that shill these crap projects to their followers, just so they can profit!
Im not going to name any names here, but a few are meant to be nice guys. Im not so sure!