From Obyte: unlike most other crypto networks, Obyte is based on DAG (directed acyclic graph), not blockchain. By using a block-free, DAG based ledger, Obyte fully delivers on the promise of crypto — getting rid of middlemen. There are no miners (block producers) in Obyte, all users have equal rights and can freely add their transactions to the ledger. And they do so directly, without intermediaries, without gatekeepers who could block or delay the transactions they don't like.
With this in mind, we come to understand that Obyte offers direct transactions are a faster pace, no network congestions and full ownership on transactions.
How does the Direct Acylic Graph (DAG) work exactly?
The DAG references each transaction to one or more previous transactions. As usual, each transaction is identified by its hash, and by referencing its previous transaction including its hash as well. In comparison, this works similarly to blocks in blockchain including a hash of the previous block, but here in the DAG, the link is between the transactions themselves and not the blocks.
When a new transaction is added to the DAG, it immediately gets "children" transactions or enables a following of transactions including the initial transaction's hash. The number of transactions grows exponentially from the intial transaction like a snowball effect.
If a user wishes to connect their transaction in the DAG, they will have to pay a fee calculated equally to the size of the transaction they wish to enable, the payment is done in bytes, the native currency of Obyte. 1 byte of currency allows you to add 1 byte of storage to the global immutable database, for it to be stored forever.
It is recommended to users to always add their transactions at the end of the DAG instead of elsewhere, even if possible, as this will permit them to ear part of the fees paid from the immediate previous transaction.
This is one of the many attractive offerings of Obyte as a distributed ledger. Additionally, Obyte is offering multi-dimensional bonding curves to create stablecoins. Bonding curves are the new challenge and solutions for the growth of DeFi.
Obyte isn't afraid of mathematics and this is highly regarded for the evolution of DeFi and Blockchain in itself, from core developments needed to proper economics to be developed for mass-growth, Obyte is a platform tackling both needs to a top tier level of professionalism.
Head over to their discord to discuss with the team and their community.
Read more about their solutions for growth on their medium page, beware, there's a lot of maths ;).
And make sure to discover all their DApps on their State of the DApps landing page.
