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DAGCOIN IS THE FIRST CRYPTOCURRENCY DESIGNED FOR USING, NOT TRADING – EXACTLY
THE WAY MONEY IS SUPPOSED TO BE!

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DAGCOIN AND THE FUTURE OF CURRENCIES

We believe that cryptocurrencies are here to be a step up from regular money.
This means improving the speed of transactions while reducing the cost, giving
access to money to more people with lesser restrictions and limitations, giving
more freedom to transact. And at the same time preventing fraud and illegal
activities. Dagcoin was created to fulfil all of these criterias – to become a
digital version of money that people can use all around the world.

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NEAR-ZERO TRANSACTION FEES

Fixed transparent transaction fee without any hidden fees or exchange rates.
Does not matter whether sending 10 or 10 000 dags, the cost will always be
around 0.0005 dagcoins.

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ALMOST INSTANT TRANSACTIONS

Regular transactions can take from days to weeks, several cryptocurrencies can
take from tens of minutes to hours. Dagcoin transactions are fully confirmed
within 30 seconds on average.

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FREEDOM TO TRANSACT

People around the world have the freedom to make fast and cost-effective
transactions with their Dagcoin wallets. No limits, no restrictions. You have
control over your money.

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LICENSED CRYPTOCURRENCY

Dagcoin is strictly following KYC and AML laws to reduce illegal or criminal
transactions in the financial world.

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FIND MERCHANTS ALL AROUND THE WORLD

Dagcoin is meant for using. Everything you do with regular currency, you will be
able to do with dagcoins. This includes getting paid, going shopping,
exchanging, taking loans, paying for services, travelling, and almost everything
else that comes to your mind.


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500 000+ MEMBERS

The Dagcoin community is growing rapidly all around the world. Instead of
creating a group of speculating traders who are chasing the price movement, we
are building an educated community of cryptocurrency supporters who understand
the long-term vision and are passionate about the true value of cryptos – the
reasons they were created and how people worldwide can benefit.


QUICK SPECS AND THE WHITEPAPER

Technology:DAG-chainTransaction fee:Around 0.0005 DAGAvg transaction time:30
seconds on averageTotal supply:9 000 000 000 dagsCoin distribution:5% – team,
founders, advisors 95% – communityDistributed coins:3B dagsReserved
coins:6BAvailable in (exchange)LBank

Read the whitepaper


THE 3-STEP STRATEGY FOR GROWTH

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CREATE AN ECOSYSTEM

The biggest innovators are flexible and can adapt to changes faster than the
industry giants. It takes a while for the biggest companies to start accepting
cryptocurrency. The best way to start is by creating an ecosystem and build the
main products and services ourselves.

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BUILD THE COMMUNITY

Once the ecosystem has been developed, we will grow the community and integrate
the products and services into our everyday lives. A currency becomes strong
once people and businesses start trusting and using it. We can show the world
how cryptocurrency is truly meant to be used.

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SCALE & CO-OPERATE

Scaling the community to millions of people assures that the ecosystem is
working and gives insight for perfecting the products. This is required in order
to begin cooperating with the biggest brands in the world, eventually leading to
mass adoption.


WITH DAGCOIN, TRANSACTION DELAYS ARE A THING OF THE PAST

One of the things the information age has taught us is that everything can
always be done faster. We all expect bank transactions to be immediate, however
with current banking systems, that is not the case. There are often long
confirmation times even for local transactions but with Dagcoin, you can enjoy
the DAG advantage. Here are 5 common reasons why your bank transactions could be
delayed: Bank holidays and weekends As banks require a large number of manual
processing for transactions, when bankers rest, the transactions stop. This
means transfers can only be processed during specific timeframes. For instance,
when doing business with the MENA region, weeks are from Sunday to Thursday, and
the rest of the world works from Monday to Friday. This means there are only
four common working days, from Monday to Thursday. In countries like UAE during
Eid, or China during the Golden Week, banks are closed for a little more than
one week, and transactions can take up to two weeks or longer to be approved.
Time differences The length of time it takes for an international bank transfer
to be fully processed might greatly depend on the time zones involved. Your bank
transfer will take considerably longer if you send money to a location with a
big time difference. The transaction can start being processed up to 24 hours
after you send it and it will take a few working days to receive confirmation.
However, even for a local bank transfer, timing is crucial. Payments processed
at the close of business are usually sent the following business day. DAG
advantage: Our DAG-chain technology enables our users to make transactions
within 30 seconds on average. No matter the time, date, or season, you can enjoy
fast transactions with Dagcoin. Currency exchange When making international
transfers in different currencies, there are more transaction touchpoints. The
transfer is often processed by multiple banks before it reaches the final
destination. With the backlog of other transactions, international transfers can
be anything from a few days to weeks. DAG advantage: When it comes to
international transfers, there is no need for currency exchange, you can
purchase the goods and services in dags so there is no need for extra
touchpoints in the transaction. The dags will be transferred in less than a
minute. Incorrect payment details One of the most common delays in money
transfers originates from human error in entering transaction details. The bank
will not approve a transaction with even one wrong letter or number. This leads
to the rejection of the transaction and the money being sent back to the
sender’s account, and they will have to start the transaction all over again.
This is an expensive and time-consuming exercise. Missing paperwork When making
international transfers there are different monetary laws for each country and
there should be paperwork that needs to be processed for the transfer. Failure
to submit one document could lead to severe delays. DAG advantage: With Dagcoin,
there is also no need to worry about paperwork, countless documents, monetary
laws, human errors in entering details, and so much more because Dagcoin uses
Know Your Customer (KYC) to verify users on the Verify Once platform. KYC
validates the identity of the user who is associated with a certain wallet. You
can transfer dags to the verified user by clicking a link they send to you or
scanning their wallet barcode. Once you approve the transfer, they will receive
your funds in under a minute. To learn more about Dagcoin, visit
https://dagcoin.org/


ETHEREUM SUCCESSFULLY COMPLETES THEIR FINAL TEST RUN BEFORE THE HIGHLY
ANTICIPATED “MERGE”

Since approximately ten years ago, when it was first created, Ethereum has been
mined via a model known as proof-of-work (PoW). It involves challenging math
equations that several machines compete to solve and was heavily criticized for
its high consumption of energy, and subsequent environmental impact. Ethereum
has been working on the “Merge” which will join the existing layer of the
Ethereum Mainnet to a consensus proof-of-stake (PoS) layer, the Beacon Chain.
The new PoS method will use staked ETH to authenticate transactions and mint
tokens. PoS uses a lot less energy and is expected to speed up transactions. On
the 11th of August, Ethereum successfully completed its third and final test
environmental network (testnet) before the long awaited “Merge” with the Beacon
Chain. The “Merge”, which is expected to happen sometime in this month, is being
hailed as one of the most significant developments in the history of
cryptocurrencies. Although the “Merge” has been praised by many for its
advantages, there have been some community members that have been advocating for
a fork in the Ethereum block-chain that will keep some of the transactions on
the PoW system because abandoning it altogether will heavily impact people who
make their living as crypto miners. The success of the final testnet boosted the
value of ETH, the token native of the Ethereum blockchain, by more than 12.5% to
around $1,900 on the 11th of August.


BEGINNERS CRYPTO ABBREVIATION LEXICON

The crypto world is not easy for beginners to navigate. The moment one decides
to dive into the world of cryptocurrencies, they are often bombarded with terms
and abbreviations that are both unrecognisable and difficult to understand out
of context. It is advisable to create a lexicon or a glossary/vocabulary list
that can help you navigate through blogs, chats, articles, and social media
posts. If you don’t know where to start, don’t worry, we’ve got you covered. In
a previous blog we featured crypto terms you should know, today we cover 15
crypto abbreviations that are important for every crypto beginner. DAG and DLT -
The DAG or Directed Acyclic Graph is an alternative to the better-known
blockchain. It is also a type of Distributed Ledger Technology (DLT). DAG
structures are considered faster and more scalable alternatives to blockchains.
ATH - All Time High. This is in reference to the highest market value of a
cryptocurrency. ATL - All Time Low. This refers to the lowest market value of a
cryptocurrency. FUD - Fear, Uncertainty, Doubt. It is a tactic used to sway
public opinion about certain cryptocurrencies or the cryptocurrency market in
general by disseminating unfactual, inaccurate, or biased information. HODL -
Hold On for Dear Life. This refers to purchasing and holding cryptocurrencies
like Bitcoin and other cryptocurrencies. BTD - Buy the Dip. It means that the
optimum moment to purchase more coins is whenever the price of your preferred
coin declines. CBDC - Central bank digital currencies (CBDCs) are digital forms
of fiat currencies that are issued by central banks. DApps - Decentralized
Applications. They are enabled by Blockchain platforms that support smart
contracts. DeFi - Decentralized Finance. PoS and PoW - Proof-of-Stake (PoS)
mechanisms have been developed over recent years to mitigate the perceived
problems and limitations associated with Proof-of-Work (PoW) — in particular,
the resource-intensive nature of crypto mining at scale. DYOR - Do Your Own
Research FOMO - Fear of Missing Out. This term is used in reference to the
feeling of anxiety associated with a delay in making trading decisions. ICO -
Initial Coin Offering. It is widely regarded as the crypto world’s version of
initial public offering (IPOs) — and they were particularly popular during the
2017 crypto bubble. NFT - Non Fungible Token TX - Transaction. The act of
exchanging cryptocurrencies on the blockchain Dagcoin is changing the
cryptocurrency field into something more open and freely accessible to all,
meaning less fuss about abbreviations as well. If you want to find out more,
check out how to get dagcoins.


IRAN COMPLETES ITS FIRST $10 MILLION CRYPTOCURRENCY IMPORT.

The semi-official Tasnim agency in Iran said on Tuesday the 9th of August that
Iran placed its first official import order using Cryptocurrency this week. This
could allow the Islamic Republic to get around economic restrictions imposed by
the United States. The $10 million import order was a first step toward enabling
the nation to conduct business through digital assets that do not rely on the
dollar with other nations similarly constrained by U.S. sanctions, such as
Russia. The agency however did not clarify which cryptocurrency was utilized in
the transaction. An official from the Ministry of Industry, Mine and Trade
tweeted "By the end of September, the use of cryptocurrencies and smart
contracts will be widely used in foreign trade with target countries,". Iran is
subject to an almost complete economic embargo by the United States, which
includes a prohibition on all imports, including those from its banking,
shipping, and oil industries. The use of cryptocurrency could free their economy
from the crippling effects of the economic sanctions. According to a research
conducted last year, Iran accounted for 4.5% of all bitcoin mining activity, in
part due to the cost-effective electricity there. Hundreds of millions of
dollars could be made by Iran through cryptocurrency mining, which could be used
to pay for imports and lessen the effects of sanctions.


WHAT’S THE DIFFERENCE BETWEEN DAGCOIN & ETHEREUM?

Many people assume that the different cryptocurrencies and the technology
they’re backed by are all more or less the same, but this is far from the truth.
In this article, we will look at the key differences between Ethereum and
Dagchain, along with their pros and cons. What Is Ethereum? Ethereum was created
in 2015. Like Bitcoin, Ethereum is based on blockchain technology. However,
Ethereum uses this technology for different purposes. Bitcoin uses blockchain
technology to facilitate person-to-person payments and to keep track of the
ownership of its currency. As mentioned, Ethereum does host a cryptocurrency
called Ether, but it is probably best known for hosting smart contracts. Smart
contracts rely on blockchain technology to enforce agreement terms. For example,
a smart contract could be set up to automatically transfer currency to one party
once another party has received a specified good or service. Problems with
Ethereum Like any computing network, Ethereum is potentially vulnerable to
attacks. And, because of the anonymous nature of blockchain technology, Ethereum
is also vulnerable to misuse by bad actors. The technology has been allegedly
abused repeatedly in order to create Ponzi schemes. In 2018 a dapp called 333
Eth – one of the most popular dapps at the time – was accused of being a Ponzi
scheme. It promised its users a lifelong return on their investment and took an
11% cut from its investors, which it said would be used for marketing. 333 Eth
isn’t the only dapp to be accused of running a Ponzi scheme on the Ethereum
network. PoWH3D, Fomo 3D, and FOMO Short were also described as Ponzi schemes
loosely masquerading as games. What Is Dagcoin? Dagcoin is substantially
different from Ether, Bitcoin, and other cryptocurrencies. We launched it with
the goal of creating a decentralized cryptocurrency for use in developing
countries. The idea was to help remedy the problems caused by falling currency
power and take back power from big banks. We acknowledged that the public had
come to see cryptocurrency as a dangerous get-rich-quick scheme. That’s why we
launched Dagcoin; its aim is not to act as a commodity for trading but to serve
as an actual currency. Its value is protected from speculative fluctuations
because it is based solely on the size of the DAG-chain network. How Is
DAG-chain Different from Ethereum? DAG-chain attempts to address some of the
problems that have come up with blockchain technology: Lack of scalability High
cost of proof of work The need for miners DAG-chain was created to be faster,
more easily scalable, and more egalitarian than blockchain technology. A
blockchain is a series of “blocks” of data that are formed by bundling together
many transactions. Those blocks are then joined together into a “chain.” In a
DAG-chain, each separate transaction forms its own block. The blocks are linked
to multiple previous transactions to form what’s known as a directed acyclic
graph, or DAG. DAG-chain technology does not have a need for miners tasked with
confirming transactions. Instead, DAG-chain makes each new network member
responsible for confirming at least one previous transaction. This means that
DAG-chain lacks the kind of two-tier systems found in many cryptocurrencies,
which generally privilege certain groups (usually miners). It also means that
there’s an incentive to keep the DAG-chain operating quickly since each new user
needs to confirm a previous transaction in order to add their own transaction.
The Takeaway DAG-chain and Ethereum differ significantly in their uses and
purposes. Ethereum is very useful for creating smart contracts and running
corporate bureaucracy. DAG-chain, on the other hand, is intended to host a
normal currency, Dagcoin, which is intended for everyday use. It differs from
Ethereum in its use of Dagchain technology and its compliance with government
regulations. Because of the system’s speed, it is also scalable and unlimited in
scope.


REACTION TO US MAY CPI SUMMARY WIPED MORE THAN $200 BILLION OFF CRYPTO MARKET

On Thursday the 10th of June 2022, The US Bureau of labor and statistics
released the Consumer Price Index (CPI) Summary that revealed that inflation in
the US was 8.6% in the month of May 2022. In the simplest terms this means that
the US dollar can buy 8.6% less than it did before. The announcement sent panic
into the market almost immediately. The stock market started a downward spiral
and subsequently the crypto market followed suit. Over the weekend of the
11th-12th of June over $200 billion was wiped off the crypto market. The
downward spiral continued into the next week until Wednesday the 15th of June
when the US Federal Reserve made their announcement of a 0.75 percentage point
rate hike to curb inflation. The market reacted negatively for a brief moment
then recovered slightly.  Though the crypto market had been on a 12 week
downward spiral by the time the CPI summary was announced, the mass dump of
assets put added pressure on several exchanges. Some exchanges announced layoffs
while others even stopped withdrawals. Binance froze Bitcoin withdrawals due to
a stuck-in-chain transaction and Celsius, a crypto lending platform, faced a
liquidity crunch so severe that they halted all withdrawals on the evening of
Sunday the 12th of June. Celsius posted a memo on Medium:  “Due to extreme
market conditions, today we are announcing that Celsius is pausing all
withdrawals, Swap, and transfers between accounts. We are taking this action
today to put Celsius in a better position to honor, over time, its withdrawal
obligations…” Celsius was particularly affected because their DeFi business had
been affected by the collapse of Terra and Luna. Over and above that they are 
heavily reliant on staked Ethereum investments.  The price of Ethereum was
already unstable and the market drop exacerbated an already present problem, and
forced them to halt withdrawals.  To put the crypto crash into perspective, the
closing price of Bitcoin on the 10th of June was around $29,200. By the 15th of
June Bitcoin had lost about 30% of its value with the price fluctuating between
$20,200 and $22,100, around 70% less than its all time high of over $68 900. The
price of Ethereum on the 10th of June was $1,788. By the 15th of June it had
lost about 40% of its value with prices fluctuating between $1,017 and $1,190,
around 80% less than its all time high of over $4 800. Bitcoin and Ethereum
accounted for a large percentage of market losses, but a plethora of other coins
followed suit. The market value fell below $1 trillion for the first time in
over a year.  No one factor can be blamed for the crash but the CPI report was
definitely a trigger that activated an avalanche in what was already an unstable
market. When the American markets panicked, the rest of the world caught on too
and the market as a whole suffered a severe crash.


WHAT IS VERIFY ONCE AND HOW DOES IT WORK?

Fraud is a huge problem today. Each year, millions of people worldwide are
thought to be a victim of identity theft each and every year, in addition to
insurmountable amounts of profits lost by businesses for similar reasons. It is
why many governments around the world have introduced various Know Your Customer
(KYC) and Anti Money Laundering (AML) laws to counteract this. It is extremely
likely that you have had to verify your identity - by providing a copy of your
driving licence, passport or identity card – when applying for services or
buying goods online (especially financial products and services). This process
causes problems for both individuals and businesses. For individuals, it can
take many hours or even days to become verified, by which time you may not need
the product or service anymore or have found another quicker alternative.
Likewise, for businesses to check the identity of all customers in such detail
is very time consuming, costly and harms conversion rates.   Verify Once has
been built to solve these issues. We know it can be frustrating to keep
verifying your identity with each new company you wish to buy products from or
whose services you wish to use. Especially when this process can take many hours
or even days, leaving you without the product or service you need - perhaps
desperately. The reason why we created Verify Once was to reduce the time and
need to go through the verification process with multiple companies online and
keep providing the same documentation again and again. This is why Verify Once
does exactly as its name indicates. All you have to do is verify once, and you
will never have to verify again in the Dagcoin ecosystem. But what do you need
to do to verify yourself once and for all, and how long does it take? Getting
verified with Verify Once is a quick and easy process that takes just a couple
of minutes. All you have to do is enter your personal details, and upload a copy
of a valid identity document as well as proof of address. Hit submit and you
will receive an answer in just 60 seconds. Once your documents have been
verified, they will be connected to the email address you registered on the
Verify Once platform. To ensure that you and you alone have access, your account
will be password protected. Meaning that only you have access to your
verification data, all approved accounts with different companies/websites, and
the possibility to apply for verified accounts with new businesses whose
products you wish to buy or whose services you wish to use. Verify once - and
never go through verification again in the Dagcoin ecosystem with any merchant
that accepts VerifyOnce. But it isn’t just individuals that are at risk.
Ecommerce, online gaming, and even social media companies are at high risk.
Anyone with an e-commerce shop will be all too aware of chargebacks and
fraudulently used card details. The new wave of Know Your Customer (KYC) and
Anti Money Laundering (AML) laws are therefore widely welcomed. However,
understanding and meeting these legislations can be difficult. Some larger
companies and even smaller ones have taken specialist legal, AML or fraud staff
on board in an effort to meet these new laws. But staff are often not just
needed to set up and update these processes, but also to monitor and verify
customer applications and accounts on a daily basis. This can lead to all kinds
of outcomes, businesses that can verify customers quickly and efficiently, while
at the same time greatly reducing fraud, can grow significantly. While companies
with a slow, inefficient or weak process can see far lower customer conversion
rates, and increased cases of fraud, criminals see them as a weak link in the
industry. Verify Once processes and verifies customers, so you don’t have to.
Saving you both time and money. At the same time meeting, all necessary Know
Your Customer regulations. This is done by using state of the art technology
which is fast, secure, automated, and integrated with artificial intelligence.
Meaning that as criminals adapt and improve, so will the system. Conclusion
Fraud costs both individuals and businesses around the world billions each and
every year. This is why governments around the world have introduced various
Know Your Customer and Anti Money Laundering Laws. This means as individuals you
are often asked to confirm your identity by providing a copy of your ID, driving
licence or passport when buying products or applying for services online.
Businesses ask for this information not just to meet these regulations, but to
keep you safe and prevent revenue losses to fraud. However, for individuals, the
verification process can be time-consuming and repetitive (having to submit the
same information again and again to different companies). And, for businesses,
it is costly in terms of hiring the staff to check through your data and hiring
experts to set up these processes. Verify Once gives you the chance to verify
just once and then buy any products or apply for any service without needing to
verify again in the Dagcoin ecosystem (with any Verify Once partner) and for
businesses the safety and security of a system that meets KYC regulations, while
at the same time cutting costs dramatically. Visit https://verifyonce.com to
learn more.


SAMSON MOW TO ADVISE EL SALVADOR CRYPTO ADOPTION

Samson Mow, a Chinese-Canadian cryptocurrency entrepreneur, said on Thursday
that he has launched a new firm named Jan3 to promote bitcoin adoption. He
stated that the company has inked a memorandum of understanding (MOU) with El
Salvador to create digital infrastructure. Mow, who lives in Shanghai, advised
Salvadoran President Nayib Bukele on a $1 billion bitcoin-backed bond offering
that was postponed last month due to the invasion of Ukraine and cryptocurrency
market turbulence. “It’s a general MOU that says we’ll work together to build
digital infrastructure for the country and for Bitcoin City(...)” Bukele
suggested a ‘Bitcoin City’ in November, which would offer tax benefits to
investors and utilise geothermal energy supplied by a neighbouring volcano.
According to Mow, it's too early to place a monetary figure on the arrangement.
The name is a tribute to the birth of the bitcoin network on January 3, 2009.
Last year, El Salvador made bitcoin legal tender. Following a significant drop
in the token's price since hitting a high in November, the move has been met
with widespread scepticism. Mow was formerly the chief operating officer of BTC
China and the creator of Pixelmatic, a video game production studio.


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