I understand the potential benefit of BlockDAG, compared to a traditional blockchain. But what I'm not sold on is if it actually works or not.
As I watched a couple of the foundational YouTube videos, I feel like I got a good grasp of the mechanics of BlockDAG. I could be wrong about that, but this is my current understanding...
Instead of relying on a sequential agreement on blocks, like in a traditional blockchain, BlockDAG seeks to dramatically increase transaction speed (and other benefits) by creating a more "fuzzy logic" transaction approval system. So a block only has to be validated by a small number of validators closely connected to the block creator.
From there, BlockDAG goes through a process of validating blocks based on the number of validations a block has received and the weight of the validators. It also factors in an "anchor chain," or the most trusted ordering of transactions. This would be more akin to a traditional blockchain. The ordering gets stored permanently in the blockchain. They also add additional weighting criteria called a ghost pointer.
The biggest problem that I see with this system, is that it gets harder and harder to determine the anchor chain, as the number of devices on the network increases. It probably works very well at small scales, but I see an issue when there are a ton of devices. At scale, I feel like a traditional block chain would do a better job of properly ordering transactions. Show Less
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