Platforms like Optimism and MakerDAO have significantly contributed to DeFi by enhancing Ethereum's capabilities. However, BlockDAG proposes a different path, replacing linear chains with Directed Acyclic Graphs.
Optimism: Boosting Ethereum’s Capacity
Optimism was built to scale Ethereum by moving most operations off-chain through Optimistic Rollups. This enhances speed and reduces transaction costs for dApps while maintaining security. By March 2024, the platform had a TVL of $906 million and over 115,000 monthly active users.
MakerDAO: The Transformation in DeFi
Founded in 2014 by Rune Christensen, MakerDAO provides a decentralized lending platform. Users can borrow and lend without banks by using the DAI stablecoin, avoiding currency risks and providing an alternative to traditional financial institutions.
BlockDAG: An Alternative to Traditional Blockchain Models
BlockDAG stands out from traditional blockchain systems by offering a new architecture, not fixing existing issues. Instead of a linear chain, BlockDAG allows many nodes to validate blocks simultaneously, eliminating fork problems and speeding up the network. This approach has led to a successful presale, raising $209.5 million.
BlockDAG demonstrates that technological progress in the crypto sphere is not solely about speed; it involves radical changes in architecture and decentralization concepts. While platforms like Optimism and MakerDAO continue to evolve within old models, BlockDAG paves the way for a new generation of networks.
