This Cryptocurrency Has No Public Ledger
One common aspect of all Blockchain-based cryptocurrencies is the existence of the public ledger. Each blockchain contains a series of blocks in which information such as transaction details are recorded after validation by the participants in the network. As the ledger is public knowledge, every participant in the network has access to all the information about every transaction. This complete transparency helps to prevent fraudulent activities like double spending.
However, with DICE money, there are instead multiple ledgers that are both public and private. In brief, each DICE unit refers to bundled data blocks whose generation requires intensive computational resources. The reason why DICE money has more than one ledger is that it uses a cluster model system instead of a single blockchain. Each node in the DICE network can be classified as either an operator or a miner. Every operator is surrounded by a cluster of miners that contribute their computational power to generate brand new DICE units. Since every one of these clusters is not connected with each other, this means that each cluster is basically its own blockchain.
So what benefits do having multiple ledgers bring to cryptocurrency? Well, the main problem with the single blockchain model is the speed of the network. Having to update the ledgers of every single node in the entire network leads to significantly slower processing speeds. As the network expands, this speed becomes slower and slower. With DICE money, the model is built upon a large number of unconnected nodes and each of these nodes only handle a small proportion of the overall traffic. Thus, this allows for maximum parallelisation and unlimited scalability within the DICE network.
As popular cryptocurrencies like Bitcoin and Ethereum have run into issues with their speed and scalability, DICE money may have the solution to these problems. By solving these issues, DICE is set to pioneer a new age of cryptocurrencies that can be a true replacement for physical currency.
Find out more about DICE at:
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Twitter: https://twitter.com/dicesup
Medium: https://medium.com/@DICEsup
Telegram: https://t.me/DiceMoney
