VITECOIN - RIDESHARING FOR THE BLOCKCHAIN GENERATION
What is Vite? Vite is A Next Generation High-performance Decentralized Application Platform[1]. Vite is based on Directed Acrylic Graph (DAG). “DAG will be used for applications that require scalability in the thousands of transactions per second. The launch of CryptoKitties clogged the Ethereum network which resulted in slow transactions and high fees. Ethereum has a solution to this called sharding, but it is 5 years out. Applications will soon, I think, be turning to DAG to scale.”[2] What is a DAG? Let’s first define Blockchain. Blockchain is a decentralised public ledger. DAG is also a decentralised distributed ledger. DAG does the same thing what blockchain does. Purpose of DAG is same as blockchain i.e. to maintain a decentralised record of online transactions but DAGs achieves the same goal via different technology. Both DAG and Blockchain are different technologies trying to achieve the same goal. There is absolutely no relation between these two technologies barring ...