We’ve talked about dagcoins and DAG-chain for a while now. We’ve told you why it’s better than Blockchain. So, without further ado ‒ on the 2nd week of May, dagcoin will leave the Byteball chain and move on to DAG-chain developed by the Dagcoin team.
Change is good. It keeps things moving. And a couple of superb nuances accompany this particular change. It’s not possible to adjust the amount of total coin supply in an already existing chain, whereas starting a new chain offers an opportunity to define a new criterion for the coins. Plus the new chain includes nearly ten times more dags. The total supply is going to be 9 (!) billion.
The current coin holders will have a surge in the number of coins they’re holding. No-one will carry any losses. On the contrary ‒ the number of coins in the user’s wallets will increase ten times, which is 11 percent of the growth in the total holding value.
When we started the Dagcoin venture, we had a clear, forward-looking vision. An improved, transparent and honest financial system. To fulfill that vision, the path to follow is different from current cryptocurrencies out there. The technical and procedural solutions we use, give us a leading advantage and positions us firmly on the market.
Byteball is doing a fantastic job in building and maintaining their platform. We love it. And we’re so grateful for the hard work that is put into the concept by the Dagcoin team.
This fundamental step we’re making in the development of dags will give even more possibilities for the team to create the most suitable and essential features for globally accepted and used cryptocurrency. It will provide us with the power to have an even fairer and more affordable fee structure for transferring dags between wallets.
What will change for dag users?
We’ll notify all our community members and ask them to download the new wallet and send us their coins via old Byteball chain. When that’s done, we’ll send new coins to the new wallet using the new chain. Et voila
The whole process will be done manually. We aim to prevent a possibly malicious situation where somebody could cheat other members of the community with old coins.
The main thing that’ll change for the users is the number of dags they own. The users will get ten times more dags once the change will go into effect. But bear in mind that since the number of coins grows nine times, the price of a coin is decreased nine times to balance it all out. So, the cost of one dagcoin will be 0,11 euros.
It’s all pretty simple and straightforward. If any of this raised questions, get in contact! We would love to hear from you.