Open AccessDirected Acyclic Graph-based Distributed Ledgers – An Evolutionary Perspective
Author(s) -
Kiran Kumar Kondru,
R. Saranya
Publication year - 2019
Publication title -
international journal of engineering and advanced technology
Language(s) - English
Resource type - Journals
ISSN - 2249-8958
DOI - 10.35940/ijeat.a1970.109119
Subject(s) - scalability , directed acyclic graph , cryptocurrency , distributed ledger , computer science , database transaction , ledger , decentralization , distributed computing , the internet , transaction processing , blockchain , distributed database , distributed transaction , peer to peer , intermediation , key (lock) , computer network , world wide web , computer security , database , business , finance , algorithm , political science , law
Blockchain platforms like Bitcoin and Ethereum have introduced a distributed and decentralized cryptocurrency system with no third-party intermediation required. These peer to peer network systems allows Internet users to directly transact with each other. However due to the heavy emphasis on decentralization, scalability has taken a back seat. It has also become a key issue in the wider adoption of these technologies. The change to the underlying data organizing structure to Direct Acyclic Graphs (DAG) of the distributed ledger, has significantly increased transaction scalability. In this paper, we analyse some of the Distributed Ledger Technologies that use DAGs and have shown marked improved in transaction performance without weakening security.