Abstract: Dagger Community introduces a new crypto currency based on an directed acyclic graph (DAG) instead of blockchain, and unlike other DAG-oriented crypto currency, XDAG allows mining. The goal of this project is to create a decentralized payment system that allows processing thousands of transactions per second.
PLEASE NOTE: CRYPTOGRAPHIC TOKENS REFERRED TO IN THIS WHITE PAPER REFER TO CRYPTOGRAPHIC TOKENS ON A LAUNCHED DAG. THEY DO NOT REFER TO THE ERC-20 COMPATIBLE TOKENS BEING DISTRIBUTED ON THE ETHEREUM BLOCKCHAIN IN CONNECTION WITH THE XDAG TOKEN DISTRIBUTION.
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Dagger (token XDAG) is a new crypto currency, which is not based on the blockchain, but on an directed acyclic graph (DAG) instead and, unlike other DAG-oriented coins, allows mining.
Each block contains exactly one transaction. At the same time, the block is an address. Among all transactions, the main chain is allocated - it is a chain with the maximum difficulty. In the main chain, new coins are created about once a minute.
Every block in DAG has up to 15 links to another blocks (inputs and outputs). Block B is referenced by another block A if we can reach B from A by following the links. Chain is a sequence of blocks each of which is referenced by the previous block. Chain is called distinct if every its block belongs to separate 64-seconds interval. Difficulty_of_block is 1/hash where hash is sha256(sha256(block)) regarded as little-endian number. Difficulty_of_chain is sum of difficulties of blocks. Main_chain is the distinct chain with maximum difficulty. Blocks in main chain are called main_blocks.
Daggers are mined in every main block. For first 4 years 1024 XDAG are mined in each main block. For second 4 years - 512 XDAG, and so on. So, maximum XDAG supply is approximately power(2,32). Each dagger is equal to power(2,32) cheatoshino. Transaction is valid if it is referenced by a main block. Valid transactions are strictly ordered depending on main chain and links order. Double spending is prohibited because only first concurrent transaction (by this order) is applied.
The ECDSA algorithm with a 256-bit private key is used for a signature that confirms the rights of the wallet owner for money in the given address. All messages are transmitted between hosts in an encrypted form using the author's semi-symmetric encryption algorithm. The session key to it is transmitted using the 8192-bit key RSA algorithm.
Main network was launched January 5, 2018. ICO is not planned. There is no pre-mine. Everyone can participate in mining on equal terms.
CPU/GPU can be used for mining at the present, and existing asics are not suitable for mining.
The original developer of the dagger is an anonymous author under the pseudonym Daniel Cheatoshin (cheatoshin@mail.com).
Currently this project is maintained by Dagger Community Dev team.