How does creating a DAG on Ethereum contribute to the security of the blockchain?

3 answers

• Apr 30, 2022 · 3 years ago
  Creating a DAG on Ethereum improves security by introducing a new consensus algorithm called Proof of Stake (PoS). This algorithm replaces the traditional Proof of Work (PoW) used in Bitcoin, making the network more energy-efficient and resistant to 51% attacks. PoS relies on validators who hold a certain amount of cryptocurrency to validate transactions and create new blocks. This reduces the risk of centralization and makes it harder for malicious actors to control the network. Additionally, the DAG structure allows for parallel processing of transactions, increasing the network's scalability and reducing confirmation times.
  634

  317
• Apr 30, 2022 · 3 years ago
  The creation of a DAG on Ethereum adds an extra layer of security by implementing a system called Ghost Protocol. This protocol ensures that stale blocks, which are blocks that are not included in the main chain, are still considered when determining the longest valid chain. By including stale blocks, the network becomes more resistant to attacks and provides a stronger guarantee of transaction finality. This enhances the overall security of the blockchain and reduces the risk of double-spending or other fraudulent activities.
  532

  178
• Apr 30, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recognizes the importance of creating a DAG on Ethereum for enhancing blockchain security. With the introduction of DAG and Proof of Stake, Ethereum becomes more robust and secure. This innovation aligns with BYDFi's commitment to providing a safe and reliable trading environment for its users. By leveraging the benefits of DAG, Ethereum strengthens its position as a leading blockchain platform and ensures the security of digital assets.
  483

  121