Blockchain 3.0 = DAG??

[Abiky]

I cannot speak for all DAGs but Obyte DAG has.

Thanks for bringing this up. Never thought a DAG-based cryptocurrency with an incentive mechanism existed until now. All that OBYTE needs is some mass adoption by validators worldwide, and it should become a "force to reckon with".

Honestly, I don't think any DAG-based crypto is as serious about decentralization as OBYTE these days. I've stumbled across IOTA, Constellation, and even Hedera Hashgraph but I've found that nodes are largely controlled by a few players. They're faster and cheaper than traditional blockchains networks, but they're very weak in terms of security/reliability. I'm starting to believe DAGs are experimental and not ready for mainstream use. Maybe someday coins built on this tech will rise all the way to fame?

L2 scaling solutions, sharding, and ZK-Proofs are great, but they do not address the same problems that DAG does.

If you mean solving scaling and privacy problems, then traditional blockchains can already do that with the aforementioned methods. Off-chain scaling, ZK-Proofs, and Sharding will make traditional blockchain networks as comparable as DAGs. I think even better because blockchains are more focused on decentralization and censorship-resistance. The new tech is just starting to blossom, so I'd give it some time to see what happens.

[tonych]

I cannot speak for all DAGs but Obyte DAG has.

Thanks for bringing this up. Never thought a DAG-based cryptocurrency with an incentive mechanism existed until now. All that OBYTE needs is some mass adoption by validators worldwide, and it should become a "force to reckon with".

Honestly, I don't think any DAG-based crypto is as serious about decentralization as OBYTE these days.

That's my observation too.

L2 scaling solutions, sharding, and ZK-Proofs are great, but they do not address the same problems that DAG does.

If you mean solving scaling and privacy problems, then traditional blockchains can already do that with the aforementioned methods.

No, I mean censorship resistance and decentralization of power.

I think even better because blockchains are more focused on decentralization and censorship-resistance.

DAG is more focused on decentralization of power and censorship-resistance than blockchain (again, I'm speaking of Obyte DAG only).  In DAG, users have the power to add transactions to the ledger themselves while in blockchains they have have to rely on block producers.  And block producers can collude to censor certain users.

[IShishkin]

I think people, who speculate about advantages of DAG, misunderstood the concept of the blockchain network.

[tonych]

My article discussing ideological differences between DAGs and blockchains:

https://blog.obyte.org/dag-vs-blockchain-as-individualism-vs-collectivism-1235efb9be7

Due to the differences in the distribution of power in the two types of distributed ledger, DAG is pro-individualism while blockchain is pro-collectivism.