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8978744 No.8978744 [Reply] [Original]

Why are there no minable DAG coins? Is it impossible?

>> No.8978812

>>8978744
With DAGs, normally, each person who makes a transaction does the needed computation and also checks the computations of a few recently made transactions. This eliminates the need for miners and results in no/low fees, fast tx times and no inflation.
Big miners are literally not needed in DAGs.

>> No.8978907

>>8978744
Xdag is the first mineable DAG. Released January 5.

>> No.8978983

>>8978812
Interesting. Mining with blockchain cryptocurrencies increases the security as the hash rate increases, to prevent 51% attacks. Are DAGs immune to 51% attacks?

>>8978907
Is it good? Is it the only one? Why is it minable if what anon said is true, that each person does the computation themselves?

>> No.8978985
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8978985

>>8978744

ZenCash is a mineable coin with a DAG in R&D:

> https://zencash.com/iohk/

ZK-Snark , with incentived nodes. Currently the SPECTRE & PHANTOM protocol is being considered which would make it both the first anonymous and minable DAG protocol.

> https://eprint.iacr.org/2016/1159.pdf
> https://eprint.iacr.org/2018/104.pdf

> In this paper we propose a new protocol, SPECTRE, that achieves high scalability. Transactions in SPECTRE can be confirmed within seconds, and the throughput can be improved by orders-of-magnitude over Bitcoin; it is limited by the network infrastructure and capacity only. The protocol thus alleviates the security-scalablility trade-off imposed by Nakamoto Consensus.

>> No.8979003

>>8978985
Very interesting, especially ZK-Snark. I believe anonymous coins will be big in the coming years so that could be important.

>> No.8979041
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8979041

>>8979003
>>8978983

Also, a note to the previous comment. On ZenCash the computation is elevated to the network nodes which need quite a high amount of memory and processing power to be eligible. So that's how the problem is approached here.

>> No.8979277

>>8978983
It's the first mineable DAG. Similar to Nick Szabo's bitgold from 1998, when mining we're solving math problems or cryptographic puzzles, the POW (processing transactions) are done by OUR computers and is NOT done by others to process transactions.