dag consensus | Bitcointalksearch.org

nelson4lov

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Quote from: zalmi on March 27, 2024, 11:21:46 PM

How does the Bitcoin community relate to the 'dag consensus' solution?

Why is it not currently being adopted to replace the traditional blockchain?

To be honest, the DAG consensus was overhyped at that time and it peaked in 2021-2022. The hype around DAG platforms was that they were a more superior alternative compared to a regular blockchain but it was soon proven to be false with the number of successful attacks on DAG projects. Constellation, IOTA, Hedera are some of the DAG platforms I can remember from the top of my head and none of them make the top 30 crypto list.

The reason why blockchains like ethereum are where they are today is due to the economic incentives

Apocollapse

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It harms decentralization, transparency, verifiability and security of the network, that's why Bitcoin still stand with the current network instead of migrating or adopting other consensus. Most Bitcoin holders value decentralization and security over scalability.

Quote from: https://www.radixdlt.com/blog/dags-dont-scale-without-centralization

Vulnerability
Furthermore, as opposed to a blockchain like Bitcoin where blocks are being continuously mined in ‘unison’, albeit opposition, by miners, with a DAG hashing only happens when processing new transactions. Malicious actors only need to gain over 33% of total hash power to be able to attack the network, even before it is sharded, and the lack of constant mining (IOTA, for example, currently processes between 1.2-2.4 tps, the vast majority of which are empty transactions) plus the minimal level of transactions makes it vulnerable to an attack.

Secondly, there is no otherwise verifiable and guaranteed list of transactions in timestamp order. Unlike blockchain, which has a block number/verifiable time of block creation, DAGs do not have guaranteed and secure timestamps, as latency/transaction execution time will vary across nodes.

This causes issues, not just for double spend but also for any application built to run on the DAG that requires an exact timestamp.As it is, decentralized security is traded for performance.

zalmi

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How does the Bitcoin community relate to the 'dag consensus' solution?

Why is it not currently being adopted to replace the traditional blockchain?

Topic: dag consensus (Read 72 times)