Hello! This is the 6th edition of our weekly overview of various cryptonetworks, contributing to the future of modern technologies. Today, the central theme of the update are DAG-based projects. DAG stands for “Directed Acyclic Graph.” The system doesn’t look like a chain, but (as the name suggests) more like a graph. There is an opinion that the DAG model may substitute blockchains thanks to a more effective structure for storing data and processing transactions online. Instead of storing data in blocks, its framework uses nodes and groups of nodes that can be developed simultaneously. DAG implementations are still relatively new. However, the cryptocurrency ecosystem has seen several projects using the framework successfully. Some of them we will be able to cover today. So, let’s get acquainted:

Constellation is a software infrastructure tool that removes the financial and organizational cost of insecure data pipelines and bad data. It provides a secure and tamper-proof audit trail that simultaneously validates your data, allowing early visibility for data management teams into downstream issues — preventing bad logic across automated systems.

COTI is an enterprise-grade FinTech platform that enables cross-chain interoperability and is built on its DAG-based chain. It supports scalability and low transaction costs and is supplemented with payment-specific requirements in the form of COTI Pay, a digital payment solution. COTI Pay empowers enterprises and merchants to receive multiple payment methods and build their own payment networks and Coin as a Service (CaaS).

Fantom is a series of technology components that, when combined, form a technology stack that allows a broader ecosystem of applications to be built on top of them. Their focus is on developing the Lachesis asynchronous Byzantine Fault Tolerance (‘aBFT’) and TxFlow consensus mechanisms.

IOTA was among the first start-ups to implement the “blockless blockchain” back in 2016. It uses a network of nodes and “tangles” (groups of nodes) to speed up the validation process. IOTA stands for Internet of Things Applications and aims to provide near-instant transactions with zero fees for the users. It’s maybe a cost-effective solution for micro-payments with cryptocurrencies.

Nano has a network of independent blockchains that are connected through nodes. The technology is called block-lattice and is a mix of the DAG-based framework and the traditional blockchain. In Nano, every user with an individual wallet gets a blockchain and is the only one who can operate changes on it.

Enjoy!