Dagger-hashimoto is basically the core of Ethereum's proof of work. With it the drawbacks that arose from bitcoins PoW were tackled prominently the use of ASIC machines. There are many arguments that it is possible to make ASIC machines for Ethereum, if that happens we sure would be talking a whole new RAM revolution.
We wrote up a post to describe how it happened and how it works:
https://medium.com/@verify.as/why-dagger-hashimoto-for-ethereum-773f0792a689Feel free to drop any comments or questions on the subject.