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69. DAGlabs (Published: 02nd Nov, 2017)
DAGlabs is aiming to solve the problem of scaling blockchains. Similar to IOTA, it is creating a new protocol called blockDAG and it wants to “change blockchain into blockDAG”. A new cryptocurrency, which is not yet named, will be launched in late 2018 to implement this concept. While no whitepaper has been released, DAGlabs stated that the first stage to scale up layer 1 of blockchain is to implement the SPECTRE protocol on the DAG-based cryptocurrency, which features faster transactions and lower fees. Additional features such as layer 2 improvements for privacy(e.g. TumbleBit) and scalability (e.g. Lightning Networks) will be released subsequently. The project is currently raising Seris A funds, which will finish by the end of this year. It will keep hiring and expanding, while hope to launch the testnet by 2018Q3. Before the end of 2018, the new cryptocurrency will be launched. Meanwhile, a whitepaper will be released soon to illustrate all of the concepts in details.

This project is similar to IOTA, which aims at solving the fundamental issues of blockchain and launching their own protocols. However, the team of DAGlabs has much higher credibility which consists of blockchain developers and business experts. The team members also have influential power in the industry. For instance, the fork for Ethereum PoS, Casper, is named after the GHOST paper, which was coauthored by DAGlabs’ Yonatan Sompolinsky. On the other hand, they were avoiding ICOs and targeted traditional fundraising to gain more reputation and reliability. Hence, if they successfully launch the new cryptocurrency with proven technology, it can easily get into the top 10 coins. However, the project is currently not even in beta and a lot of information is missing. In addition, with such large scale of new technology, there would be a lot of bugs and barricades. How the team tackle with the issues in a timely manner would be critical for the development and reputation. In the worst case, it might take longer to launch the cryptocurrency, or even completely fail as no one knows how the industry will go in one year’s time.

As the project follows the traditional route for fundraising, there will not be any investment opportunity in any time soon. However, it would be worthy to keep watching its development since it can potentially be the industry changer. The best thing to do right now is subscribing to their updates to catch up any new information.

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