State-of-the-Art and Future Trends of Blockchain Based on DAG Structure

Abstract

Blockchain is a decentralized storage technology rose rapidly recent years, it has the advantages of decentralization, untamperability and unforgeability, high safety and reliability, and has attracted vast attentions from governments, financial institutions, technology enterprises and capital markets. Blockchain has numerous application scenarios and huge development potential, Bitcoin is the most representative one of it. Primarily, the first generation blockchain and the second generation blockchain and their respective representative crypto-currencies: Bitcoin and Ether are introduced briefly. Next, a new type of blockchain based on DAG (Directed Acyclic Graph) structure is illustrated, it is considered to be the possible evolution route of the next generation blockchain. Furthermore, two influential applications of DAG blockchain systems: IOTA and Byteball are introduced. Finally, Conclusion and forecast of blockchain are discussed.