Unlocking the Potential of Distributed Ledgers with @Conste11ation: Speed, Security, and Layer-Zero Consensus
So what is Constellation Network about?
Constellation (DAG) is a protocol that, in theory, enables infinite scalability by utilizing a directed acyclic graph architecture to reach consensus.
Let's break it down one by one ⬇️
The underlying data structure used in Constellation's ledger is a Directed Acyclic Graph (DAG).
Unlike a blockchain with sequential blocks, a DAG has vertices and edges that represent transactions and relationships to other transactions.
DAGs are great for data transformation pipelines and are well-suited for distributed ledger tech.
In this model, vertices/nodes become "miners" and transactions can be validated in parallel, leading to fee-less transactions.
What sets DAG apart is their implementation of DAGs in the network.
Multiple independent DAG ledgers can exist within the network & converge their states into one global state, increasing network concurrency & throughput capacity.
This is referred to as a Hypergraph.
4/ A Hypergraph is a graph that models group relations instead of only binary relations.
It allows different graphs to be connected by their relationships to form a greater graph structure, and is used to compose complex decentralized application logic.
The Hypergraph network is made up of multiple independent networks called state channels that validate and process data according to their own logic and consensus mechanisms.
The global L0 network performs final validation and stores data in the ledger.
The Global Layer 0 (L0) or HyperGraph is the base layer and final layer of consensus.
A network of validator nodes forms the core of the protocol and validates data from other parts of the network.
State channels are subnetworks that perform their own validation and consensus before submitting data to the Global L0.
They can include multiple layers of consensus and can be thought of as microservices that process data and act on off-chain triggers.
$DAG Layer 1 is a special case state channel that validates DAG currency transactions and bundles them into blocks for submission to the global L0 network.
This enables the native currency of the network - $DAG.
The L0 Token Standard is a common interface for state channels & systems to integrate, providing a shared executor layer for currency operations.
The goal is to provide a common layer that can be understood & validated by many separate networks extending the core protocol.
$DAG tokenomics are about to be re-defined. Check out this link below to see the discussion about it & find original tokenomics:
forum.hypercore.org/t/dag-unofficial-tokenomics-by-dag-community/75/16
Constellation Labs (CST) was established by a team of five individuals - namely Ben Jorgensen, Benjamin Diggles, Mathias Goldmann, Wyatt Meldman-Floch, and Altif Brown.
So why should you care about $DAG?
Here are at least 6 reasons ⬇️
For you visual learners, this infographic can help too.
Their ecosystem consists of 17 projects right now, but that can change quickly.
What I am personally really amazed by is their ability to partner with many significant companies & government institutions.
They are legit.
$DAG is ranked by CG as the #216 coin with MC ≈$170M.
Total supply: 3.55B
Circulating supply: 2.62B -> 74%.
If you are still not sure what is $DAG about, I recommend watching this 3min video that I got recommended in their Telegram group.
youtu.be/6eTDsUn5lYc
And I also got recommended this - I think it will be helpful for anyone of you if you decide to dive deep into the $DAG world.
twitter.com/HSethv/status/1480619617320058887?s=20&t=N8pRWgjFBiD0P_n4gQQG5w
And that's all for today! I hope I have taught you something over the past month! 😊
If you're in the mood for more reading, check out my previous thread on $ICP.
twitter.com/CharlieXDeFi/status/1623317814424793089?s=20&t=3QBgIIHPIO3avXFu7zH5-A