The Difference Between BlockDAG and TxDAG
In terms of data structure, BlockDAG and TxDAG are just two different data structures. The difference is only that the former will reach the blocks of transactions and the ledger is organized by blocks, while the latter does not have the concept of blocks and the ledger is composed of transactions in which can also be understood as only one transaction inside a block. Since transactions has several common “transaction descriptive information”, i.e., header information, which can exist in blocks, and transactions only need to save different parts between transactions, the BlockDAG ledger will have higher storage efficiency as well as transmission efficiency than the TxDAG.
In terms of consensus protocol, BlockDAG refers to a consensus protocol technology framework, which is a high-performance DAG technology that can guarantee security and decentralization. To ensure decentralization, it can only be based on proof-of-work PoW consensus, thus mining to generate blocks becomes its important feature, so it is called BlockDAG. Qitmeer advocates are narrow concept of BlockDAG technology is also the real sense of BlockDAG technology, so it is not that as long as the ledger is composed of blocks DAG is BlockDAG technology, just as the community recognizes that blockchain technology is also blockchain technology in the narrow sense, which requires cryptographic security guarantees as well as decentralized features rather than simply just a distributed network whose ledger is composed of chained blocks. In fact, there have been projects with broad BlockDAG technology such as xDAG, but Qitmeer does not recognize it as BlockDAG technology because its consensus is still centralized.
TxDAG is not clearly defined, but only from an empirical point of view, the mainstream DAG projects IOTA, OByte, and NANO ledger happen to be TxDAGs. Instead, these projects have different degrees of centralization, such as Coordinator for IOTA, Witness for OByte, DPoS for NANO, while Qitmeer is completely decentralized, which is the biggest difference between Qitmeer and mainstream DAG projects. As for why TxDAG projects happen to be centralized, Qitmeer’s view here is that TxDAG projects may not use PoW, i.e., no mining, for energy-saving reasons, while PoW is the current consensus for true decentralization. Since there is no need for mining, there is no need for mining to pack blocks, while BlockDAG insists on decentralization and therefore needs PoW consensus to pack blocks.
Qitmeer is the next-generation public chain based on BlockDAG, which is dedicated to serving the ecosystem of Islamic Finance, ethical finance, and socially responsible investment, thereby enhancing financial inclusion and creating social impact.
In contrast to the competition model, BlockDAG’s collaboration model in the mining achieves a desirable balance of typical blocks metrics among the security, openness, fairness, and scalability.
Qitmeer adopts a classic POW consensus and UTXO data model and designs a unique asset issuing mechanism which requires the reserve of native currency, which is in line with core ethical financial values.
As the Qitmeer Network mainnet launched, we invite the investors and the Qitmeer Networks Community to take a look and learn the core idea about Qitmeer Network. This video was presented by our very own Effendy Zulkifly — Qitmeer Network (Council Member).