Blockchain Is Currently Not Scalable For Very Large Communities – Dagcoin


What would you see
would be the differences between the blockchain and the Dagchain in terms of that scalability to becoming
one of these kind of top, in five or six global currencies as of today, blockchain is not scalable yet. It’s a possibility that, that it will be improved. And in the future the amount of transactions
that can be done on blockchain is is much, much higher and hopefully it will happen. I’m not a big fan of patching something. building scalability layers on something, you know, I’m much more interested in creating
something that is already scalable by its core architecture. that is what the Dagchain is about. The first layer in the core being scalable. So, if you look 10 years into the future, then of course we don’t know
what would be the best are the most scalable technology, yet we can assume we can predict how many
transactions when we talk about money, then how many transactions are being
done in the world today and how many will be maybe done in the future.
Then when we talk specially about, money and using money, doing payments, then, if there is a cryptocurrency that can do few hundred
thousand transactions per second, then that is more than enough. I would say that Dagchain is very suitable
for small communities, big communities and very big communities. Blockchain as of today is only suitable
for small communities. It’s not suitable for, for something global in the future it might be. But as of today there are challenges and therefore Dagchain for sure,
is much better version or much better technology to use for
the underlying technology of a cryptocurrency that is aiming to be one of those global currencies with Dagcoin for example, obviously it’s based
on Dagchain, which is more scalable than the blockchain. But Dagcoin for example, has a finite
number of coins, 9 billion. If you take a big cash economy,
for example, like India, they have in circulation maybe around
$500 billion US dollars worth of rupees and there’s only $9 billion dagcoins. So if even a small percentage of
the Indian population starts using dagcoins, anything around a dollar, $2, $10 or more sometimes more becomes
a price in the shop, which is nor 0.1 or 0.00099. How do you see, I see that as a big problem in scalability because
nobody wants to go to the shop or the online store and figure out all of these 0.00 something. Price is very difficult to calculate how much do I have? How much does this cost? Absolutely. That would be a huge challenge, right? But how it’s built is that one dagcoin one dag itself is 1000 millidags, and one millidag is 1000 microdag. So when the value of one millidag
becomes very high, then we will… Everyday, we will use millidags. So we will use a smaller denomination of a dag. Okay. So basically what you’re saying is
it becomes a reverse of a fiat currency. So if we go back 50 years or so, you could go to the shop now and buy, obviously we didn’t have euros then,
if you take something like pounds, for example, for just a few pence, you could go
and buy a loaf of bread or a cup of tea and now it costs two or three pounds
or two, three, four, five dollars. So this increases. Whereas with crypto,
you’re saying it’s going to decrease. It’s coming. It’s coming the opposite way.
It can be, they can this way a little bit. But basically when we want to have
something that is one euro and when one dag is worth a thousand euros,
then what do we do? We just use one micro dag that will be one euro. So would you say in that sense
it’s scalable down infinitely? Not infinitely, but sufficiently. Okay. Because obviously you’ve got,
obviously as time goes on and the years go on, the generations go on.
Inflation is obviously increasing all the time. It’s the currency like has to react to that in some way. If you put it in numbers then
there’s a very long way to go. There is sufficient, sufficient scalability on that.

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