As everything nowadays happens in a matter of moments, the question about the possible future scenarios of cryptocurrencies digs deep. Time is of the essence, so we’re going to cut to the chase. The world economy’s best option is a distributed ledger technology. Why? The reason is simple: it brings transparency and fairness to the party. And those are some excellent qualities to have in this crazy, crazy world.
And, what is a distributed ledger technology? According to Investopedia it’s a database that is consensually shared and synchronized across network spread across multiple sites, institutions or geographies. It allows transactions to have public “witnesses,” thereby making a cyberattack more difficult.
So, our hypothesis is: the ledger will eliminate most of the negative factors in the global economy we have today.
But, before we jump more into the subject, let’s make a couple of things clear first:
- It’s not about being against regulations;
- It’s not about being against governments;
- It’s not about being against people in power;
- It’s about making the whole world more balanced and giving everybody equal possibilities.
Everyone’s a winner
Global transparency and integrity are essential characteristics in building a better tomorrow. Crucial even. And we’re going to achieve it thanks to the distributed ledger technologies. And, as a result, it will benefit all of us. Every. Single. Person. On. This. Planet.
We believe that in the future every government may have their own cryptocurrency.
Because cryptocurrency is something that benefits everyone. All of the individuals, the regular folks, you and me. But it also helps businesses, governments, and society in general.
Thanks to the ledger, the whole picture becomes more transparent. One fantastic benefit, per se, is less corruption. And, as a result of that – more qualitative collaboration. People will have, finally, an honest connection with the financial world.
On our way to mainstreaming
The national cryptocurrencies will not be the only great things to come. We believe there’s going to be four, or even five, commonly usable cryptocurrencies.
This raises a question: what kind of technology will they use? That could be a very long debate. Blockchain was, of course, the first one. It’s still the household name and the strongest player on the field.
But.
More solutions are coming our way. There will be currencies using Blockchain, and there will be currencies using DAG-chain.
The scalability of the Blockchain might be a thing of worry in some sense. Of course, not so much in regards to a small community. But in a context of globally usable currencies, something that’s involved in a vast amount of regular transactions, scalability could be a critical factor.
The bottom line is: cryptos based on DAG-chain have more benefits than Blockchain based cryptos. And with the number of users and transactions within the DAG-chain growing, so does the speed.
For further reading: the huge problem we have and how crypto keeps your financials safe.
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Originally published on our webpage at dagcoin.org on November 15, 2018.