Blockchain remains as the most popularly used cryptocurrency platform. While it is a system that has virtually reinvented how people exchange value, it might be showing signs of slowing down, literally.

Cryptocurrencies that are based on the alternative DAG-chain are looking to solve the major problems Blockchain faces today. Here’s two examples.

The speed

Take a look at the average confirmation times within the Blockchain platform. To put it simply, Blockchain relies on peer-to-peer confirmations for all transactions to occur. A slower confirmation means a slower transaction time. January 2018 saw a large spike in transaction times which reached over 11 000 minutes, meaning nearly 200 hours or 7-8 days.

Of course, transaction times as long as these tend to be rare, for now at least. It wouldn’t be a major problem, if this wasn’t literal currency we’re talking about. If cryptocurrency aims to be the next big thing in business and finance, it needs to do far better than all the old systems, not worse.

DAG-chain based cryptocurrencies are a definite improvement. In layman’s terms, confirmation occurs within the DAG-chain through transactions themselves, without an external “mining” process. That also means the more users there are, the faster confirmation times become. Currently, confirmation speeds with DAG-chain based Dagcoin remain within a few minutes, and it can only get better.

The cost

January 2018 saw another shock for Blockchain-based Bitcoin. Transaction fees had remained within the 1 – 3 USD range, until the end of the month saw it rise up to over 50 USD per transaction. For a time, it seemed as if the end of all cryptocurrencies was nigh.

Thankfully, other cryptocurrencies have remained stable, and several are actively looking to avoid this problem altogether. Dagcoin in particular boasts a transaction fee that is merely ~0.0005 USD, with no worry to ever increase, owing it to automatizing all commissions within the platform.

Choose the best

In conclusion, we recommend to keep an eye out for DAG-chain based cryptocurrencies. As news of problems with Blockchain become more frequent, such as

  • Spikes in confirmation times,
  • Gradual increase of transaction fees,
  • User inconvenience,

the need for alternatives only becomes more and more evident.

Read more: An innovative alternative to blockchain-based cryptocurrencies