Dagcoin Making Headlines in Cryptocurrency Sector

If you are a user or simply follow the developments in the field of digital currencies then you must know about Dagcoin and Dagchain. Both of them are sweeping the headlines of the cryptocurrency sector. So, what is all this fuss about? In this post, you will get to know as to what makes the digital currency of Dagcoin different from other cryptocurrencies.

As you might know that blockchain is facing two burning issues of increase in transaction confirmation time and rising transaction costs. The developers are hell-bent to gain a working solution for these issues but no success so far. With the number of cryptocurrency users rising exponentially each day, it is becoming tougher for blockchain to sustain the huge number of transactions that happen each day. External miners who play a crucial role in the transaction confirmation process require more processing power to handle the current load of transactions. That’s why a transaction confirmation process is taking time in the case of blockchain based cryptocurrencies. Sometimes bitcoin users need to wait for hours to get the confirmation for their transaction.

This is the current scenario in which Dagcoin & Dagchain come up as a welcome addition as they claim to solve these primary issues which blockchain based cryptocurrencies are facing. Continue reading ahead to know more.

Dagcoin – How Is It Different from other Digital Currencies?

With the recent slump in the price of bitcoin, cryptocurrency users are already looking for some good Altcoins to buy and Dagcoin, probably, tops the list of favorable Altcoins as it has completely revolutionized the cryptocurrency sector.

Dagcoin relies on Dagchain for its operations. Dagchain or Directed-Acyclic-Graph-Chain doesn’t require external miners for the transaction confirmation process. Instead, for confirming a current transaction, the transaction done prior to it acts as a reference and this chain continue. With no external miners in the picture, the whole process requires significantly less processing power than blockchain based cryptocurrencies and is also much faster. A typical Dagcoin transaction takes a few minutes to acquire confirmation thereby eliminating the issue of rising transaction confirmation time altogether. Users of Dagcoin, unlike bitcoin, don’t require waiting for hours to acquire confirmation for their transaction.

Speaking about transaction costs, a Dagcoin transaction costs a mere 0.0005 USD. Moreover, Dagchain is completely scalable in nature. This means the rise in a number of users won’t affect its performance. In fact, the performance of Dagchain will become even more superior with the rise in a number of users. This is the beauty of it which threatens the very existence of blockchain. If blockchain is not able to find a working solution for the primary issues it is facing, Dagchain has got all the chances to render blockchain obsolete in the near future.

Dagcoin Is a Perfect Cryptocurrency for Acquiring Sole Control over your funds

Normally, what we do when we possess some extra funds? We simply head over to the traditional banks and deposit the same. The banks, on the other hand, provide us with a platform and certain services which enables us to perform transactions with our funds over the internet. It is compulsory that banks will levy charges for the provision of such services. Moreover, if you happen to violate any of your account’s terms and conditions, banks will levy charges on that as well and may even resort to closing your account. In the event of an account shut down, you require going through multiple channels, protocols, and procedure in order to regain access to your funds. Thus, for accessing your funds only you require undergoing so many processes. You can understand now that in this case, you are not the independent owner of your funds. Banks act as a second owner to your funds. Even if anybody hacks into a bank’s network and steal funds, you really cannot do anything as you have handed over your funds to the bank to take care of.

Cryptocurrencies, on the other hand, make you a single owner of your funds. There is no concept of banks or a middle-man in case of cryptocurrencies. Hence, you are the independent owner of your funds. You only possess the public and private encryption keys for conducting transactions through your funds. You need to take care of the encryption keys so a major part of the security lies in your hands. Thus, you don’t have to face undue charges which these traditional banking institutions keep on levying for one reason or the other. However, none of the cryptocurrency, as of now, is able to achieve this feat perfectly in all terms as the current blockchain based cryptocurrencies are only seen as investment products and as far as their usability goes, they are simply nothing.

This is the point which makes Dagcoin completely different from other digital currencies. Dagcoin is pretty high on the usability factor as well. While most of the blockchain based cryptocurrencies comes up as one of the major investment products and nobody thinks of them as an alternate payment method, Dagcoin differs in this concept. The development team of Dagcoin has taken special care to make Dagcoin, apart from being high in investment value, high on usability as well. Dagcoin is extremely convenient and user-friendly to use. In fact, providing Dagcoin as a medium of online financial transactions to the people living in areas where there are no centrally-managed banking services is a fantastic idea to give such people financial independence. Dagcoin has got a flourishing community around it and has its own business tools like DagPay, DagWallet, and Merchant Finder around it to facilitate people as well as businesses to adopt Dagcoin as an alternate payment method.

Speaking about Merchant Finder the number of online merchants that have registered on the portal is increasing every day. More and more online businesses are thinking of adopting Dagcoin as an alternate payment method.

The Bottom Line

The bottom line is that Dagcoin and Dagchain have, indeed, got everything to bring about a revolution in the cryptocurrency sector. Blockchain-based cryptocurrencies are struggling with their issues with no working solution in sight and if the same set of events continues then the future of cryptocurrency might not have blockchain at all. As of now, let us wait and watch what the future is holding.

Please note that this post expresses a personal opinion on the provided topic and the ideas and the facts mentioned in the post shouldn’t be used as an investment advice without conducting proper research on your own side.

Ruchi Gupta is a successful blogger, who specialises in all the different form of digital media content. She is well known for her informative articles that help readers to get a good idea regarding the latest developments in the field. She also has a lot of interest in the different technological advancements.