Are Dagcoin Really the Future of Cryptocurrencies?

Undoubtedly, the craze and the curiosity associated with cryptocurrencies are overwhelmingly increasing each day. With the price of bitcoin falling down beyond expectations, there was, indeed, a low phase but things are picking up well now. However, as of now, cryptocurrencies simply come up as one of the major investment products. Everybody is interested in buying cryptocurrencies and holding them up until their price rises so that they could sell them off for profits.

Moreover, the blockchain based cryptocurrencies are facing two primary issues of increasing transaction costs plus rising transaction confirmation time. Though blockchain developers are working the solution seems pretty far away. If the same scenario continues then the future of cryptocurrency, indeed, seems to be in the doldrums. However, there is a new digital currency in the relative market termed as Dagcoin which claims to be high on usability and has also solved the two primary problems faced by blockchain based cryptocurrencies.

Dagcoin, unlike the traditional blockchain based cryptocurrencies, depends on DAG-Chain. Digital currencies based on Dagchain doesn’t have to go through the primary problems that blockchain based cryptocurrencies are facing. This is what hails Dagcoin and Dagchain the future of cryptocurrencies. Let us have a look at the working of Dagcoin and Dagchain.

Dagcoin Currency

How Dagchain Works? What makes Dagcoin different from other cryptocurrencies?

A DAG-chain or directed-acyclic-graph-chain doesn’t have to depend on external miners in order to confirm a transaction done in the digital currency. A transaction receives its confirmation from the transaction done prior to it. Thus, the process of confirmation carries forward by referencing earlier transactions. Hence, the equation eliminates the role of an external miner altogether. This kicks out the issue of increasing transaction confirmation time. A transaction done in Dagcoin confirms within a few minutes.

Moreover, Dagchain is completely scalable. Unlike blockchain based cryptocurrencies, with incrementing users, the performance of Dagchain will go even better. The system will become pretty fast and the transaction confirmation time will dip further.

If we speak about transaction costs then the cost of a single transaction done in Dagcoin is merely 0.0005 USD. People are, generally, thinking that the cost of a transaction done in Dagcoin might increase in the future. However, as explained above, due to the fantastic functioning of Dagchain, the same is highly unlikely to happen.

Dagcoin has its impact on the commission payment system as well. As of now, a user has to pay commission to the platform owner in the cryptocurrency that the owner holds. But, Dagcoin has entirely reversed the scenario. Commission payments are based on Dagchain Automatic. This means, that people dealing in cryptocurrencies can pay their respective commissions in a single digital currency. Thus, they no longer require holding multiple cryptocurrencies in an effort to pay commission to the platform owners.

With Dagcoin, you are the sole owner of your Money

Nowadays, it is pretty common that your own money has got more than one owner. So, what exactly does it mean? Your funds are present in an account with a particular bank. This clearly indicates that the bank is the second owner of your money. Moreover, in the case of plastic money i.e. debit cards or credit cards, including you, there are three owners for your personal money. We all know that banking institutions, sometimes, levy unjust charges and may even go to the length of closing your bank account if you happen to violate any single term in their long list of terms and conditions. The worst part is that you, being the owner of your funds, have to go through various steps in order to get access to your own money; which you have earned as a reward for your hard work.

However, cryptocurrency changes everything. With cryptocurrency, you are the sole owner of your money. The need of the hour is the cryptocurrency which is exceedingly valuable in terms of usability and has got a stable price which, you already know is extremely difficult to find. However, with the development of Dagcoin and Dagchain, the concept of usability is gaining traction as its price is pretty stable and the development of Dagcoin and Dagchain took place primarily to increase the usability of cryptocurrencies.

Dagcoin comes with its own business platform termed as DagPay through which businesses can send and receive payments in Dagcoin. Moreover, the user-friendliness of Dagcoin is unparalleled and unrivaled. It is exceedingly convenient, easy, and simple to use. Hence, Dagcoin comes as a boon for people who are living in areas where there are no centrally administered banking services. According to the World Bank, there are approximately 2 million people that don’t have a bank account. These people can easily transact online in Dagcoin. Thus, Dagcoin is a way for these people to gain the much needed financial independence. From here it is easily imaginable that this new digital currency has the potential to gain acceptance worldwide as one of the alternative payment methods.

The Bottom Line – Dagcoin

From all the above points it is easily accessible that Dagcoin is, indeed, a cryptocurrency of the future. It is the perfect cryptocurrency that the financial sector is looking for. Major e-commerce players and online businesses have registered themselves already with the Merchant Finder platform of Dagcoin and more are in the pipeline. The time is not far, when, almost, all the e-commerce business owners might start accepting Dagcoin as one of the payment methods. So, the answer to the brimming questions whether Dagcoin and Dagchain are, indeed, the future of cryptocurrencies or not; is a big fat ‘Yes.’ If blockchain based cryptocurrencies are not able to solve their primary issues soon then time is not far away when Dagchain may render blockchain obsolete. As of now, no concrete solution has come up regarding the issues which the blockchain based cryptocurrencies are facing and cryptocurrency enthusiasts are increasingly looking to invest in Altcoins that have a promising future. Speaking about the currently available cryptocurrencies, Dagcoin seems to be an only good option as the coin is high on investment value and along with that, it ranks pretty high on the usability factor as well.

Please note that this post is not for any kind of investment advice and neither is it exhibiting Dagcoin as an investment product. This post is for educational purposes and expresses a personal opinion on the matter. Hence, simply going with what is mentioned in the post, without applying your own brain is, seriously, not recommended. So, it is wise to conduct a good amount of quality research before going for a cryptocurrency.

Charu decided to unite her Honors Degree in New Media and lifetime of geekiness to pursue a career in tech and gaming journalism. You can usually find her writing about a variety of topics and drooling over new gadgets and games.