10/09/2020
What is Dagcoin?
Dagcoin is significantly different from Ether, Bitcoin, and other cryptocurrencies. We launched it with the aim of creating a decentralized cryptocurrency for developing countries. The idea was to help solve the problems caused by the decline in monetary power and to take back the power of the big banks.
We recognized that the public has come to view cryptocurrency as a dangerous get-rich-quick scheme. That’s why we launched Dagcoin; its purpose is not to act as a commodity for trade but to serve as real money. Its value is protected against speculative fluctuations as it is based solely on the size of the Dagchain network.
How is Dagchain different from Ethereum?
Dagchain tries to solve some of the problems with blockchain technology:
Lack of scalability
High cost of proof of work
The need for minors
Dagchain was created to be faster, more easily scalable, and more egalitarian than blockchain technology.
A blockchain is a series of “blocks” of data formed by grouping together many transactions. These blocks are then joined together into a "chain". In a Dagchain, each separate transaction forms its own block. The blocks are linked to several previous transactions to form what is called a directed acyclic graph, or DAG.
Dagchain technology does not need miners to confirm transactions. Instead, Dagchain instructs each new member of the network to confirm at least one previous transaction.
This means that Dagchain does not have the kind of two-tiered systems found in many cryptocurrencies, which typically favor certain groups (usually miners). It also means that there is an interest in getting Dagchain up and running quickly, as each new user must confirm a previous transaction in order to add their own transaction.
Dagcoin complies with KYC and AML regulations
Dagcoin abides by anti-money laundering and anti-corruption laws designed to protect people from the types of crimes cryptocurrency has always been known to f
