Constellation - DAG

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$DAG @Conste11ation 🧵 It's a beautifully complex piece of technology. DAG stands for Directed Acyclic Graph and it functions quite differently from typical #blockchains. How does it work? Why choose DAG? Is it a blockchain killer? There's a lot involved, so lets get to it.

First, let's look at how a typical blockchain works. I'll keep this as TL;DR as possible. Mining (PoW), Staking (Pos), Masternodes, combination of some or all, and some other methods are used for network consensus and creating the next block.

That takes resources. It also means miners have to compete with miners to essentially approve TXs and create blocks. nytimes.com/interactive/2021/09/03/climate/bitcoin-carbon-footprint-electricity.html

Additionally, it's vastly limited to what it can actually do in the real world. Data is placed in blocks, and these blocks form a chain. All previous data is kept and stored in each block via a hash. Block sizes limit what can take place on the blockchain though.

More on how blockchain works - rubygarage.org/blog/how-blockchain-works Scalability Issues - youtu.be/gkdpPpR0MP8?t=74

DAG is an infinite directed graph which does not have directed cycles. TL;DR? A network of individual TXs linking multiple other TXs. There are no blocks. If blockchain is a linked list, DAG is a tree branching out from one TX to another. constellationnetwork.io/constellation-101-what-is-a-dag-cryptocurrency-and-how-does-it-differ-to-traditional-blockchains/

The more new transactions on the network, the more the available transactions to confirm previous ones. It doesn't rely on miners to confirm TXs. DAG is essentially a distributed peer-confirming system at scale. youtube.com/watch?v=ikoPyiQDVMs

This also means improved scalability. The peer-to-peer architecture of the network allows for infinite scalability. Adding to this, since there are no miners and TXs are approved p2p, this creates a fee-less, or near fee-less, network. youtube.com/watch?v=ByhniOgyVVU

We've got a basic understanding of DAG technology now, so let's see how it applies to @Conste11ation. There are 2 main pieces to this puzzle and they are the $DAG token and the Hypergraph network.

HGTP is a distributed ledger technology known as a DAG protocol with a reputation-based consensus model called Proof of Reputable Observation (PRO). Hypergraph is a feeless decentralized network that supports the transfer of $DAG cryptocurrency. constellationnetwork.io/discover/hypergraph-network/

"$DAG is the financial state channel of the Constellation Network. It allows for seamless exchange and interaction between the various state channels and nodes that make up the Network. $DAG binds the network components together so that they relate to one another."

The Constellation Network is composed of $DAG nodes, state channel nodes, and ‘hybrid’ nodes, which perform consensus for multiple state channels and $DAG. "State Channels are the heart of the Constellation technology and value proposition."

"On a ELI5 level you could say State Channels are like #Ethereum #SmartContracts on steroid and the way for every datapreneur to create his #Web3 business. State Channels are Hypergraph subnets that work similar to #Polkadot's Parachains or #Bitcoin's Sidechains concept."

"Arbitrary business logic can be coded into a State Channel which is not bound by base architecture constrains (compare gas fee model of #Ethereum and its smart contracts) but still secured by Constellation's L0 Hypergraph network." [Thanks @Criptix_LTX for this info]

Hypercube "Anyone can build and conduct a business using Constellation’s blockchain technology by using Hypercube – a user-friendly interface complete with open-source developer tools." constellationnetwork.io/discover/hypercube/

Hypercube Cont. State Channel Builder - Deploy your own blockchain Token Configuration - Mint your own cryptocurrency Hypercube wallet - Manage your crypto & data Block Explorer - Explore and validate transactions Node Deployer - Rewarded by validating transactions

What does all that mean? If you dream it, you can easily build it on Constellation via the Hypercube and it's huge range of tools.

"While Constellation Network’s focus is still largely on speed, development experience, and security, it places itself within an emerging category of ensuring safety surrounding big data." They're even working with the United States Air Force. constellationnetwork.io/solutions/federal/

How to Buy and Store $DAG? Buy: - Kucoin: kucoin.com/r/rf/rB3TFB4 - Exolix - @LatticeExchange - @gate_io - OTC - More to come! Store: - Stargazer Wallet - Molly Wallet constellationnetwork.io/discover/wallets-utilities/ chrome.google.com/webstore/detail/stargazer-wallet/pgiaagfkgcbnmiiolekcfmljdagdhlcm

Official Links Website: constellationnetwork.io/ Reddit: reddit.com/r/constellation/ Telegram: t.me/constellationcommunity YouTube: youtube.com/channel/UChMBV4al3p_iO4bnfzcIzVQ?guided_help_flow=3&disable_polymer=true Medium: medium.com/constellationlabs

DYOR and Additional Reference Links dagchads.com/ constellationnetwork.io/ academy.moralis.io/blog/exploring-constellation-network-and-the-dag-coin youtube.com/watch?v=zwzzKLi8VbY @JamesPelton18 - youtu.be/pfnPLN8c6W0 @Forbes - forbes.com/sites/darrynpollock/2019/09/20/usafs-blockchain-interest-shows-technologys-power-to-secure-data/amp/

I feel like while this seems like quite a bit of information, we didn't cover half of it. Mainnet 2.0 is on it's way and there's a lot with that. constellationnetwork.io/discover/mainnet_2/ We didn't cover validator node costs and rewards. Soft nodes. Dor Traffic Miner. So much more too!