Directed Acyclic Graph-based Distributed Ledgers – An Evolutionary Perspective
Kiran Kumar Kondru1, R Saranya2
1Kiran Kumar Kondru*, Ph.D. Research Scholar, Department of Computer Science, Central University of (Tamil Nadu), India.
2Dr. R Saranya, Assistant Professor, Department of Computer Science, Central University of (Tamil Nadu), India.
Manuscript received on September 11, 2019. | Revised Manuscript received on October 20, 2019. | Manuscript published on October 30, 2019. | PP: 6096-6103 | Volume-9 Issue-1, October 2019 | Retrieval Number: A1970109119/2019©BEIESP | DOI: 10.35940/ijeat.A1970.109119
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Blockchain platforms like Bitcoin and Ethereum have introduced a distributed and decentralized cryptocurrency system with no third-party intermediation required. These peer to peer network systems allows Internet users to directly transact with each other. However due to the heavy emphasis on decentralization, scalability has taken a back seat. It has also become a key issue in the wider adoption of these technologies. The change to the underlying data organizing structure to Direct Acyclic Graphs (DAG) of the distributed ledger, has significantly increased transaction scalability. In this paper, we analyse some of the Distributed Ledger Technologies that use DAGs and have shown marked improved in transaction performance without weakening security.
Keywords: Blockchain, Direct Acyclic Graph, Distributed Ledger, Consensus, Bitcoin.