ICO BlockDAG Network

BlockDAG aims to be the fastest, most secure layer 1 in the world. Inspired by Kaspa, the blockchain aims to have scalability, security and decentralization that can accommodate the demands of decentralized finance and other DApps. BlockDAG builds on an improved proof-of-work architecture that will use the DAG or Directed Acyclic Graph structure to register transactions in its ledger. 

BlockDAG’s hybrid consensus mechanism enables multiple blocks to be added to its ledger and simultaneously include the added blocks into the ledger. Through the process of simultaneous addition of blocks, BlockDAG ensures very fast transaction times while maintaining the highest level of security. Like Kaspa and Bitcoin before it, BlockDAG is fully decentralized and permissionless. The network is open to anyone who wants to participate in mining BDAG and validate transactions on its blockchain.

The robust security on offer on the BlockDAG network relies on its next-generation hybrid consensus protocol to ensure that any attempts to gain hashing supremacy on the network become nearly impossible with encryption standards that are an improvement on Bitcoin’s SHA-256 algorithm. BlockDAG’s algorithms deliver high-grade security while not being resource intensive, with BDAG mining consuming very low power compared to those of KAS and BTC. This innovation in cryptography results in a network that offers the highest level of security among proof-of-work blockchains while being power efficient.

BlockDAG’s attempt to solve the decentralization puzzle without compromising security and scalability involves using its highly efficient mining process to validate transactions. The network’s use of its advanced consensus mechanism ensures that larger mining pools are not required for miners to validate transactions. A combination of high hash rate and low power requirements for mining adjusts difficulty based on the computational power of each miner, thus preventing the centralization of mining power in the hands of a few large-scale mining operations. As BlockDAG gears up for launch, it envisions a blockchain that not only overcomes the throughput/ security tradeoff but sets new benchmarks for efficiency, resilience, and inclusivity