Key points:
BlockDAG seeks to solve the scalability problem by being able to process a massive number of transactions per second through “parallel processing.”
According to the development team, this mechanism provides the ability to process 10,000 to 15,000 transactions per second (TPS).
You can mine BlockDAG (BDAG) coins via the BlockDAG X1 mobile app, or buy them via its subscription.
The mainnet is scheduled to launch in late September.
What is BlockDAG?
BlockDAG is a layer 1 (L1) blockchain that uses the Directed Acyclic Graph (DAG) architecture to solve the blockchain scalability problem. Blockchains are inherently designed to grow by sequencing blocks in a straight line, where transactions are grouped into blocks and linked together in chronological order.
Here, blockchains designed according to the DAG structure differ, as they do not adopt a straight-line approach, but rather allow the creation of multiple interconnected blocks at the same time, as simultaneous processing provides faster transactions and a larger network size.
Who is the BlockDAG project team?
BlockDAG was founded by Antony Turner in 2023, and the project has yet to raise any funding from his team or venture capital funds, according to data firm Tracxn.
Turner's LinkedIn profile suggests he was a serial entrepreneur, having founded several companies including Securities Transaction Tax (STT), which provides training simulation tools, and SwissOne Capital AG, an alternative asset manager.
What is BlockDAG coin?
BlockDAG (BDAG) is the native currency of the BlockDAG blockchain and will be used for the following:
1Pay Blockchain Fees (Gas)
2.
3Access to decentralized applications (dApp).
How to buy BlockDAG coins?
You can buy BDAG through the subscription program, all you have to do is log in to the subscription site using a crypto wallet such as MetaMask or Coinbase Wallet.