Advanced Blockchain AG (https://www.advancedblockchain.com/) are pleased to announce that the peaq (https://www.peaq.io/) project now has its own functional Directed Acyclic Graph (DAG) (https://medium.com/@hamzasurti/advanced-data-structures-part-1-directed-acyclic-graph-dag-c1d1145b5e5a) framework.
Having a working DAG means Advanced Blockchain AG (https://www.advancedblockchain.com/) and peaq (https://www.peaq.io/) no longer need to rely on external partners for their base-layer architecture. Rather, they are in complete control of how the protocol functions and can tweak it when and where needed. The goal of peaq (https://www.peaq.io/) is now to build smart-contract capabilities on Advanced Blockchain AG (https://www.advancedblockchain.com/)’s own DAG.
The funds collected from peaq (https://www.peaq.io/)’s first funding round will be used to continue research and development until the end of 2018. The peaq (https://www.peaq.io/) team will focus on simulations and testing on consensus mechanisms for the peaq (https://www.peaq.io/)protocol. This will be the all-important foundational layer for smart-contract capabilities in the future.
The end goal of peaq (https://www.peaq.io/) is to have a functional and efficient base-layer protocol capable of overcoming the main drawbacks seen in traditional blockchain systems and consensus problems currently found in DAGs. Once completed, the protocol could be used by Advanced Blockchain AG (https://www.advancedblockchain.com/) for a variety of real-world projects in industries such as the IoT, as well as the automotive, financial and mechanical engineering industries, among others.
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