What is Constellation?

Sep 13, 2022
3 min read

This blog post will cover:

  • What is Constellation?
  • Where did Constellation come from?
  • What are the advantages of Constellation?
  • What are the disadvantages of Constellation?
  • How to buy Constellation on SimpleSwap?

What is Constellation?

Constellation is a distributed network. It offers fast and scalable solutions for individuals or organizations that need to securely process and transfer data. In other words, Constellation is a protocol that uses a directed acyclic graph architecture to achieve a consensus that is theoretically capable of infinite scalability.
DAG is the token used on Constellation's decentralized Hypergraph network. DAG is also referred to as the financial state channel of this network. As a cryptocurrency, DAG is intended to interconnect all network components. Thus, DAG provides both exchange and interaction between different government channels and nodes that make up the network. In addition, the DAG token can be used to launch a node in the Constellation Hypergraph protocol HGTP to validate data and transactions. DAG can also be applied to receive validator's rewards in this cryptocurrency.

Where did Constellation come from?

The Constellation Network project was first created in 2018. Since then, it has changed, improved, and developed. The project was facilitated by a team of developers who are scattered around the world but share one goal - to change our world for the better. Constellation’s headquarters are located in San Francisco, and the core team consists of 10 people. There are four co-founders among them: CEO Ben Jorgensen, CTO Wyatt Meldman-Floch, CSO Benjamin Diggles, and COO Mathias Goldmann. In addition, the team has several advisors and contributors.

What are the advantages of Constellation?

  • No commissions for regular customers
    Basic users don’t have to pay for the speed, security, and L_0 consensus that Constellation, Hypergraph, and the HGTP protocol provide.
  • Infinite scalability
    As more users and devices join the network, and the network grows in size, the speed of the network also increases.
  • Digital Currency Wrapping
    Digital currency wrapping provides liquidity for cross-chain ecosystems on the Hypergraph network.

What are the disadvantages of Constellation?

  • A large number of competitors in the market
    Every day new decentralized exchanges and applications appear, and they offer solutions to urgent problems. Therefore, Constellation has many competitors. However, these competitors motivate the project to be at its best and develop all the time.
  • Low speed of transaction verification
    The verification of transactions is delayed if there are only a few participants in the network.

How to buy Constellation on SimpleSwap?

After reading this article, you have learned more about the Constellation project and its DAG token. If you want to get DAG, SimpleSwap is happy to help:

  • Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
  • Select DAG in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
  • Enter the Recipient's Address. DAG will be sent to this address. Be careful and make sure you use the correct address.
  • Check all the information you have entered. If everything is correct click the Exchange button.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

Let's follow the development of the Constellation Network project together!

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