The order of events can shift from one to the next. There have been several problems encountered by the system which are now being solved by technologies such as DAG. The sequence is maintained through the use of transactions, avoiding the need for mining. The DAG has been created with a design that is dependent on the transactions and the elimination of the miners’ involvement.
The DAG enables the users to have a secured environment where they can use the reference data from other transactions that elevate the scalability of the transactions. The algorithm of the DAG creates an order in the DAG with the choice of the main chain that pushes it towards the potential users.
The transaction after the one transaction confirms the authenticity of that transaction. DAG’s transaction order is broadened with the several transactions it went through. There is no need for proof of work in the entire system.
The network of the DAG joins the current transaction to the upcoming transaction. The network’s horizon can be managed by this algorithm. After verification of the transactions, the future transactions are connected to them.
The transactions of the system are super fast due to the blockless structure of DAG. The transactions flow to the network straight unlike the PoW and PoS. There is a restriction to the width of the network to make the transaction validation rapid.
The nature of DAG allows the platform to have a smooth transaction process with complex functionality. Users are allowed for making small payments with hassle-free features of scalability and transaction speed.
The payers are permitted to make the transactions by applying the conditions on the transactions. The payers are responsible to make the conditions. The receiver gets the payment only when the conditions are satisfied.
The user identity is stored in the wallet securely. The user has the power to disclose it to others. It is up to the user if he wants to reveal his identity while availing services of any kind. The services such as ICO participation or using it while fulfilling KYC.
The transactions are not available for users to trace or access whenever needed. It will not be displayed on the public database due to the process being P2P. The wallet-to-wallet transaction process contributes to providing privacy.
Transactions are not confirmed or verifies by any middleman. Thus, the transaction is completely based on the cryptographic links that are built between the payer and receiver. This makes the transaction safer and faster.
The ICOs are run on the blockchain, a cryptocurrency that is secured with security tokens. The main function of this system is to introduce a new coin or project in the market.
The users can create insurance for an unfortunate situation. This insurance will be deployed on the smart contract that can be used whenever the need arises. The best part is that the users are allowed to sell their insurance to others.
By analyzing an upcoming occurring, the users can get the profit. For instance, placing a bet on a sports match or predicting the future price of a certain asset in the market. When the results arrive, the users will disclose the smart contract and avail profit.
The users who want to make the transaction of the cryptocurrency, can send it using an email or through the message. The transaction will be successful when the receiver will click on the link in the email. They will have to install the DAG wallet to be able to receive the currency.