The Constellation Labs DAG protocol (directed-acyclic-graph) passes listing on KuCoin Exchange, beginning trade on July 3. The project has raised $35.2 million in January during its pre-sale. It pursues a goal to build a network with a high capacity of transactions, suitable for creating “consumer grade” applications. Recently, Constellation also launched Orion a developer community portal which will also feature information and access to Constellations testnet.
The company aims to bring a solution for the issue of restricted scalability of “classic” blockchains, scaling network system horizontally. Constellations’ network capacity is proportional to user adoption, increasing with each new node. Its blockchain uses ExtendedTrustChain (ETC) consensus, leveraging multiple node types, each having its own role. It allows to asynchronously govern different aspects of the protocol.
The Constellation blockchain has a throughput of 4000 to 4800 transactions per second (tps) for every 1200 node cluster, while Bitcoin only has only 2 to 4 tps on average, and Ethereum’s rate is about 15 tps. As the project’s team states on its official website, Constellation’s throughput scales with its users so 1 million users can perform more than 4.5 million tps, that enables “consumer grade” distributed applications to be built on the system.
Another feature is the Proof-of-Meme (PoM) protocol, designed to contribute directly to the improvement and monitoring of the blockchain by utilizing computing power from users’ laptops, tablets, phones, and other smart devices. PoM rewards behavior that improves a node’s overall reputation in the system.
As Constellation CTO Wyatt Meldman-Floch points out:
The Constellation protocol aims to solve the primary challenge of scalability in blockchain, providing a solution that is highly resource-efficient and exponentially scalable.
Community Platform with Rewards for Contributors
It allows community members to earn DAG tokens, used for transactions within Constellation, in exchange for contributing to the network across a range of activities, from bug reporting to correcting White Paper mistranslations and supporting the community. A point-based system, awarded on productive activity, is affirmed “to create an organic hierarchy and encourage positive community behavior.” The application to run Constellation testnet node is currently available.
DAG Token Listing
Constellation raised $35.2 million in its private pre-sale of DAG tokens in January 2018. Around 14 percent of 730 million tokens sold in total will be liquid at the Constellation DAG token distribution on June 18. The first airdrop will open on July 7, five more will be held until the end of the year.
Another bit of good news for DAG tokens is they got listed by KuCoin cryptocurrency exchange. This will increase the availability of DAG tokens to users of the Constellation network. Trade of DAG tokens begins on July 3rd.
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Images courtesy of Constellation