We do have competent developers working hard, behind the scenes, making additions and alterations in the blockchain but the issue is far from getting solved as of now. So, what is a complete solution to this problem? The answer lies in the new type of cryptocurrencies that have come up.
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Based on DAG-Chain these cryptocurrencies are immune to the flaw of confirmation time being faced by blockchain based cryptocurrencies.
The best example of DAG-chain based cryptocurrency is Dagcoin and the same is enjoying immense popularity as of now.
Why Confirmation Times are Increasing in the case of Blockchain?In the case of blockchain whenever a transaction is performed, the same required to be confirmed through the Peer-to-Peer platform, as a consequence of which, a block is formed as a part of the blockchain.
The formation of block registers the confirmation process and the same resides within the blockchain in an encrypted nature.
Now, this process requires an unimaginable amount of energy. Mining is the process that is responsible for keeping this process of confirmation moving within the blockchain.
This process of mining involves users to permit the use of processing power present within their own PCs in order to aid and assist in registering confirmations.
Moreover, the users who participate in mining get paid a substantial amount of cryptocurrency.
Since cryptocurrencies are gaining worldwide recognition and are increasingly becoming popular in the global financial market, the user base is increasing at an unimaginable speed.
It is needless to say over here that with more users, more processing power will be required for the transactions to get confirmed.
Hence, we are facing the issue of blockchain based cryptocurrencies becoming slower in terms of transaction speed with each batch of new users being added.
How Dagcoin and DAG-Chain Take care of Transaction Confirmation?This problem of transaction confirmation time doesn’t even exist with DAG-Chain and DAG-Chain based cryptocurrencies. In fact, when more users are added to a DAG-Chain based financial ecosystem, the transactions become faster.
This is because there is no requirement of an external miner to confirm a transaction done with a DAG-Chain based cryptocurrency. A transaction gets confirmed through the previous transaction in the chain. This process continues with each transaction happening over the DAG-Chain.
Therefore a transaction which might take 30 minutes to an hour in a blockchain based cryptocurrency to get confirmed; the same will require mere minutes or might get confirmed instantly in the case of DAG-Chain based cryptocurrency.
Moreover, you can see now that with more number of users the transactions will get confirmed even faster.
Hence, there is no scope of the blockchain flaw to come up in DAG-Chain. Instead, the performance of DAG-Chain will keep on improving with the addition of each batch of new users.
Why you should opt for Dagcoin Cryptocurrency?From the above-explained functionality of DAG-Chain, we can conclude that Dagcoin is tremendously fast as compared to blockchain based cryptocurrencies and it being faster doesn’t mean it requires more processing power.
In fact, Dagcoin uses minimal processing power to do its work. The issue of slow-down can never come up in case of Dagcoin cryptocurrency, instead, the performance of the same will keep on improving with passing time as more number of users adopt Dagcoin.
So, what are you waiting for?
Try Dagcoin and witness your transaction getting confirmed in a jiffy.
ConclusionDAG-Chain is clearly the cryptocurrency technology for the future. Chances are that blockchain may become obsolete as it faces a clear threat of slowing down to unacceptable levels.
Hence, it is ideal for cryptocurrency enthusiasts to take up Dagcoin and other DAG-Chain based cryptocurrencies which, indeed, have a better and brighter future ahead as compared to blockchain based cryptocurrencies.
If you still have any question, feel free to ask me via comments.
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