Want to Mine Crypto on Your Mobile? BlockDAG might be exactly what you are looking for.

I ran across the term”BlockDAG” a couple of times during the last days. Mainly because they raised some serious founding from the community as announced on X on May 28th. As I was not familiar with the BlockDAG network, I decided to do some research. Here I’m sharing my key findings. Have fun!

BlockDAG, short for Block Directed Acyclic Graph, is an innovative approach to creating distributed ledgers that combines elements of traditional blockchain technology with Directed Acyclic Graph (DAG) structures. This hybrid model aims to address some of the key limitations of conventional blockchains, such as scalability, speed, and energy efficiency, while maintaining high levels of security and decentralization.

BlockDAG is an advanacement of traditional Blockchains, like those used for Bitcoin.

Key Features of BlockDAG

Hybrid Consensus Mechanism

BlockDAG employs a combination of Proof of Work (PoW) and DAG structures. This hybrid consensus mechanism allows for faster transaction processing and higher scalability compared to traditional blockchains[1][2][3].

Scalability and Speed

Unlike traditional blockchains, which add blocks in a linear sequence, BlockDAG allows multiple blocks to be added simultaneously. This…