Basics of Zibb Coin technologies

Zibb Coin is based on the Directed Acyclic Graph (DAG). The technology is based on a blockless ledger. Zibb Coin fulfills encryption completely and gets rid of miners (block producers). All users have equal rights and can freely add their transactions to the ledger, directly and without intermediaries who can postpone transactions. For Zibb Coin, each transaction refers to one or more previous ones, is identified by its hash and, referring to parent transactions, also includes their hashes.

What is a Directed Acyclic Graph (DAG) and how does it relate to blockchain:

DAG is a directed data graph that uses topological sorting. On the Zibb Coin network, the directed acyclic graph has been improved and applied for instant data processing, accurate path planning, search, navigation and data compression.

The Blockchain network has always been inefficient due to a proof-of-work system where blocks cannot be created in parallel. Its associated storage structure only allows one chain in the entire network. Data about transactions that occurred at about the same time is written to the block. Then the miners compete with each other, trying to verify the block as quickly as possible and get a reward. It takes time and money.

In the DAG network, distributed ledger technology differs from blockchain in its record structure and asynchrony. In reality, both blockchain and DAG are different solutions of distributed ledger technology, similar in general, but with different technical solutions. There is no PoW, PoS or mining here. Instead, there is the DAG ledger, which itself creates a partial ordering among transactions.

DAG (directed acyclic graph) is an oriented graph that doesn’t have directed cycles. The network graph is a topological sorting, where each server node is in a specific order. Such system has no cycles - it will never lead to the same node. The system consists of directed edges (they function as a one-way feed of information) and ensures that no nodes connect to any of the other nodes in their series.

Therefore, the DAG functions as a network of interconnected branches growing in several directions. Transactions can be confirmed much faster while remaining decentralized, since each server node confirms only the previous one.

Different types of transactions are executed simultaneously on different chains. In the Zibb Coin network of DAG technology, each transaction refers to the previous (parent) ones, signing their hashes and including them into its structure. Thus, a "tree" of transactions is formed, where each of them is confirmed and unchanged. Therefore, transactions are automatically placed and confirmed on the network, and there is no need for mining. As a result, we have a block-less and more efficient technology. The DAG network selects an existing later transaction to associate a new transaction with. The point is to keep the network’s width within certain limits, ensuring fast validation. Besides, Zibb Coin offers its own algorithm for managing the network’s width, which also ensures the speed of confirmation directly in the transactions themselves. It means for users that transactions happen almost instantaneously.

How does the DAG network work (complex technology - in simple words):

The process involves the following components: the client - the creator of the payment, the conductor - the network of autonomous servers - the nodes (or power provided by a third party) and the software id protocol (the network of connected nodes or hubs).

The client sends a transaction to the network using private keys. Technical requirements for the server part allow reacting instantly to a sending request and immediately accept a transaction for processing. Each of autonomous servers has its own software settings and automatically performs individual functions. The servers synchronously check and initially confirm the transaction, then the software id protocol (node ​​or hub) signs the transaction, approving the payment’s irreversibility and / or provides the final answer on the transaction delivery’s success. Your payment has been transferred to the recipient and the whole process takes no more than a few seconds.

Convenience of small payments

DAG technology is a high-performance, low-cost network. Users will be able to send micropayments without huge fees (unlike bitcoin or ether). Zibb Coin is built on DAG and can carry out up to 10 thousand transactions per second. This technology will optimize many financial projects, so it is very likely that in search of scalability, application and site developers will lean towards Zibb Coin owing to DAG technology.
In the centralized world of payments, companies like Visa have taught us to fast, even instant transactions, so a cryptocurrency that provides speed, security and low fees will always be an alternative for any business.

Possibility of receiving rewards:

The structure of the Zibb Coin technology allows to distribute the volume of emission in order to provide an opportunity for some clients to receive a reward for the provided capacity for the network’s operation. A kind of alternative to mining (Proof of work technology). To get the access and connect to the process, the client needs to fill out the connection form and submit the application, as well as go through face verification, then get software access keys and start participating in the transactional turnover.

Key benefits of DAG technology

Speed ​​and scalability. In DAG technology, only server nodes are transaction controllers and validators, not blocks. The information is in transactions, which means that they are very fast. In theory, we are talking about millions of transactions per second.

Security. In DAG technology, all transactions are always verified by the server software (id protocol), and sometimes more than once. This improves the reliability of payments and reduces the possibility of “double spending”. DAG security is not inferior to blockchain technology.

Transactions cost. The DAG algorithm is ideal for the micropayment system because it has "almost zero" fees. Due to its architecture and miners’ absence on the network, users of the DAG-based network will be able to send transactions with literally penny fees or without them at all.
Transactions’ confirmation and consensus. When sending a transaction to the network, the user must first confirm (validate) it. DAG has server masternodes and the software id protocol that determines the order of all records. The presence of these participants and the process of validating transactions by users - together form a consensus algorithm for records in the DAG network.

Formation of Zibb Coin fees

The fee for including a transaction (or any other data) into the Zibb Coin database is equal to the stored data size. The sum of bytes in the transaction fee is determined by the amount of your transaction (on average, the fee for a payment is about $ 0.00001 at the current exchange rate). Bytes have an intrinsic value – they can permanently store a corresponding scope of information in the unchangeable, decentralized database. These circumstances encourage making links to the most recent transactions, that results in the DAG’s increase in only one direction (like a tree’s trunk) and remains as tight as the network latency allows. If new transactions are rare enough that all nodes of the network have enough time to synchronize before a new transaction arrives, then the DAG will look almost like a chain, with rare branches and fast merges. Yes, there is a small fee to pay for each transaction to send transactions.

Deterministic completeness and PDF report

The Zibb Coin network has a rule: a transaction must include the previous transaction sent from the same address (if any), it means all transactions from one address must form a partially ordered set. Violation of this rule is equal to double spending, therefore the improved technology of the software id protocol (network of connected nodes or hubs) does not allow "out of order" transactions and all transactions are considered valid and irreversible. Thus, nobody can influence the main chain (the connected conductor - the network of autonomous servers) in the old part of the graph (DAG), and this part, thus, becomes stable. It is important that these criteria are deterministic, and if a transaction is on a stable part of the main chain, then such a transaction becomes final and unchanged. In the Zibb Coin network, unlike other cryptocurrencies, reorganizations are not possible.

Therefore, the Zibb Coin cryptocurrency has ordered and accurate financial data that meet the KYC / AML requirements. Thus, extensive technical opportunities of the ledger include automatic PDF reporting. This is an auxiliary instrument for generating a report for a given period, the owner of the Zibb Coin cryptocurrency may request a profit report. The report file is drawn up in PDF format and includes: period, investment cost, percentage of accrual, net profit and tax rate (according to the tax legislation of the country, specified by the client). The client has a document with the exact amount of the tax to be paid in the country of his residence.

This circumstance is extremely important for application both in financial institutions and in everyday life, since most people want to have accurate payment processing and are used to expecting certainty about money and ownership rights, as well as transparency to the country of their residence, whose laws they should follow.

Zibb Coin cryptocurrency’s technology is truly unique and is progressive, improved, algorithmic and dynamic structure, with high performance and minimal fees.