SoK: Diving into DAG-based Blockchain Systems

Understand

Blockchain plays an important role in cryptocurrency markets and technology services.

• However, limitations on high latency and low scalability retard their adoptions and applications in classic designs.
• Reconstructed blockchain systems have been proposed to avoid the consumption of competitive transactions caused by linear sequenced blocks.
• These systems, instead, structure transactions/blocks in the form of Directed Acyclic Graph (DAG) and consequently re-build upper layer components including consensus, incentives, \textit{etc.} The promise of DAG-based blockchain systems is to enable fast confirmation (complete transactions within million seconds) and high scalability (attach transactions in parallel) without significantly compromising security.