Syscoin Platform: Proof of ZDAG
ZDAG Makes Things FAST
ZDAG (Zero confirmation Directed Acyclic Graph) is a high speed transaction layer on top of the Syscoin Blockchain (Sidhu, Scott & Gabriel, 2018). ZDAG transactions go through the same process as regular POW (Proof Of Work) transactions, but at blistering speeds. ZDAG transactions send instantly, and confirm in ten seconds.
ZDAG also allows much higher TPS (Transactions per Second) than any other cryptocurrency project. Whiteblock, a third-party testing platform, has verified (Cole, Blakely & Choi, 2019) ZDAG speeds between 30,000 and 145,000 transactions per second depending on network latency (Lim 2019).
ZDAG makes Syscoin Protocol Tokens ready for realtime use in point of sale, as in-game tokens, as loyalty points, or any other token projects requiring instant transactions or high-throughput.
ZDAG is currently active on Syscoin Platform Tokens only and not Syscoin tokens themselves. Tests were conducted on Syscoin Mainnet using SPT tokens which were created directly within the Spark wallet and have properties similar to ERC20 tokens. See: Creating SPT Tokens on Spark — Github
ZDAG transactions are confirmed within ten seconds; however, the Spark wallet these videos were recorded with polls the network every 3 seconds, giving test results between 10 and 13 seconds due to the polling interval. The official Spark 4.0.3 wallet clears these transactions in 10 seconds every time.
How is ZDAG different from the Lightning Network?
Unlike Lighting Network that requires counterparties (people in-between), holding collateral for transactions that may or may not be valid, ZDAG requires no one in between.
ZDAG doubles security by having not only one, but two layers of verification. The first layer is the ZDAG layer, which falls back on the merge-mined Bitcoin layer. Syscoin’s POW layer is merge-mined with Bitcoin giving Syscoin the third greatest double-spend protection of all blockchain projects.
ZDAG is an elegant and simple solution to instant and high speed transactions and point of sale use-cases. Far simpler and more trustworthy than the Lightning Network.
Who can use ZDAG?
Anyone can use ZDAG. Token creators can create SPT tokens on the Syscoin Blockchain, Open-Source token projects can use ZDAG source code available on Github on their own projects and commercial projects can license ZDAG through Blockchain Foundry Inc.
You can download the Spark wallet (PC/Mac) from the Blockchain Foundry Github here:
What is Syscoin?
Syscoin is a well-established project (mainnet since 2014), continuously producing cutting-edge solutions like the world’s first decentralized marketplace, the world’s second segwit transaction, the worlds second lightning network transaction, the world’s fastest blockchain transaction speed, the world’s highest blockchain transaction throughput, the world’s third greatest double-spend protection through merge-mining with Bitcoin and coming soon after block 75000 on the Syscoin Network, the world’s first cross-chain zero counterparty bridge. The Syscoin team was also the world’s first team to use blockchain evidence as proof of criminal activity in court.
Sidhu, J. & Scott, E. & Gabriel, A.(2018)
Z-DAG: An interactive DAG protocol for real-time crypto payments with Nakamoto consensus security parameters https://syscoin.org/zdag_syscoin_whitepaper.pdf
Cole, Z. & Blakely, N & Choi, D. (2019)
Z-DAG: A Practical Performance Analysis
Lim, E. (2019)
Analysis: Syscoin’s Z-DAG