Implementation of directed acyclic graph in blockchain network to improve security and speed of transactions

Abstract

The article describes the advantages provided by the implementation of a directed acyclic graph in the blockchain network. The advantages and known limitations of common blockchain networks are described. It is shown how directed acyclic graph allows increasing the speed of transactions between the network nodes and scaling the channel width due to the formation of parallel chains instead of the single true chain in common blockchain networks. Consequently, it is shown how blockchain network with directed acyclic graph also eliminates the concept of mining, allowing for transactions without the corresponding fees.