What is the meaning of DAG in the context of blockchain technology?

In the context of blockchain technology, what does DAG stand for and how does it relate to the functioning of cryptocurrencies?

3 answers
- DAG stands for Directed Acyclic Graph, and it is a data structure that is used in some blockchain networks to achieve consensus and improve scalability. Unlike traditional blockchain architectures, which use a linear chain of blocks, DAG-based blockchains allow for multiple transactions to be processed simultaneously. This parallel processing capability makes DAG-based blockchains more efficient and scalable than traditional blockchains. Cryptocurrencies that utilize DAG technology include IOTA and Nano.
Apr 03, 2022 · 3 years ago
- DAG stands for Directed Acyclic Graph, and it is a concept used in blockchain technology to represent the structure of transactions. In a DAG-based blockchain, each transaction is linked to multiple previous transactions, forming a graph-like structure. This allows for faster transaction confirmation times and higher transaction throughput compared to traditional blockchain architectures. DAG-based cryptocurrencies aim to address the scalability and transaction speed limitations of traditional blockchains.
Apr 03, 2022 · 3 years ago
- DAG, which stands for Directed Acyclic Graph, is a term commonly used in the blockchain industry. It refers to a data structure that represents the flow of transactions in a cryptocurrency network. Unlike traditional blockchains, which rely on a linear chain of blocks, DAG-based blockchains allow for multiple transactions to be confirmed simultaneously. This results in faster transaction processing times and improved scalability. DAG-based cryptocurrencies have gained popularity due to their ability to handle a large number of transactions efficiently.
Apr 03, 2022 · 3 years ago

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