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The crypto network BlockDAG has gained the attention of the crypto world following its $10 million sponsorship deal with the German football club Borussia Dortmund.
Despite not having a live mainnet or native tokens in the open market, BlockDAG’s marketing drive has spotlighted its token presale program and crypto mining mobile application.
What is BlockDAG, and how do you earn BDAG tokens? Let’s find out.
What is BlockDAG?
BlockDAG is a layer one (L1) blockchain that uses a directed acyclic graph (DAG) structure to solve blockchain scalability.
Blockchains are structured to grow as a linear chain of blocks. Transactions are grouped into blocks and chained together in chronological order.
DAG-modeled blockchains, on the other hand, do not rely on a linear chain. Instead, DAG blockchains allow interlinked blocks to be created in parallel. Parallel processing enables faster transaction speeds and higher network volume.
According to BlockDAG’s whitepaper, its blockchain can offer a transaction throughput of 10,000 to 15,000 transactions per second (TPS). In comparison, the maximum recorded network throughput of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) was 13 TPS, 62 TPS, and 7,229 TPS, respectively, data on Chainspect showed. We previously explored the 10 fastest blockchains.
BlockDAG is EVM-compatible allowing developers to seamlessly migrate their decentralized applications and smart contracts from other EVM-compatible chains.
The platform has a fee-sharing mechanism that incentivizes developers to build on BlockDAG in return for network fees.
In December 2023, BlockDAG launched its crypto presale, which was structured into 45 batches with incrementally increasing token prices. As of August 30, 2024, the ongoing BlockDAG crypto presale has raised over $68.4 million.
Who is the Team Behind BlockDAG?
Antony Turner founded BlockDAG in 2023. According to data firm Tracxn, It has not yet raised funds from venture capital funds or angel investors.
Turner’s LinkedIn profile shows that he was a serial entrepreneur, having founded several companies, including STT, a simulation training toolkit company, and SwissOne Capital AG, an alternative asset management firm.
Youssef Khaoulaj is BlockDAG’s chief security officer, and Steven Clarke and Maurice Herlihy are company’s advisors.
What is the BlockDAG Coin?
The BlockDAG Coin (BDAG) is the native token of the BlockDAG network.
The BDAG crypto token will be used for:
At the time of writing, the BDAG token was not trading in the open market. You can buy BDAG tokens via BlockDAG’s presale program (restricted in some countries). BDAG tokens can also be obtained via BlockDAG’s crypto mining program.
The BDAG token has a total supply of 150 billion coins. BDAG inflation is designed to undergo halving every 12 months.
Here is additional information on how BlockDAG’s crypto token is allocated:
| Allocation | Percentage |
|---|---|
| Presale allocation | 33.3% |
| Miners | 50% |
| Community building | 12.6% |
| Liquidity pool | 3% |
| Team | 1% |
How to Buy BlockDAG Crypto Tokens?
You can buy BDAG crypto tokens via BlockDAG’s presale program. You will need to sign in to the presale website using a crypto wallet such as MetaMask or Coinbase Wallet.
As of August 30, 2024, one BDAG was priced at $0.0178 and we have previously explored BDAG’s potential future price. Note that BlockDAG crypto price will see an incremental increase with every batch sale.
22 out of 45 batches have been completed at the time of writing.
You can buy BDAG tokens using ETH, USDT, and BNB. Users can buy BDAG with other cryptocurrencies like BTC, DOGE, and SOL — however, they require buyers to purchase a minimum amount.
How to Mine BlockDAG Crypto Tokens?
The easiest way to mine BlockDAG crypto tokens is via the BlockDAG X1 mobile application.
The BlockDAG X1 mobile application, available on Google Play and App Store, allows you to mine the BDAG token from your smartphone.
Once you sign up to the app using your mobile number, you have to activate your BlockDAG X1 miner every 24 hours. Once active, the BlockDAG X1 miner will mine BDAG tokens at an hourly rate.
At the time of writing, the base BDAG hourly mint rate stood at 0.83 BDAG per hour.
You can increase your BDAG hourly mint rate by inviting users to the application using your referral code.
As of August 30, 2024, the BlockDAG X1 mobile application does not have a feature to export your BDAG tokens to an external crypto wallet.
Mining BlockDAG on a smartphone.
BlockDAG News: Borussia Dortmund Deal & Token Presale
Here is the most recent notable BlockDAG news:
- August 2024 – BlockDAG announced a $10 million sponsorship deal with Germany-based football club Borussia Dortmund. The deal will see BlockDAG’s logo on the team jersey, LED advertising, and in-stadium branding features. Additionally, BDAG token holders will be offered VIP hospitality, matchday experiences, and behind-the-scenes tours.
- July 2024 – BlockDAG signed UFC champion Alex Pereira as the company’s ambassador.
- July 2024 – The BlockDAG X1 mining application launched on the Apple App Store. The app gained over 100,000 users within a month of its launch.
- December 2023 – BlockDAG launches its token presale program. Tokens are to be sold in 45 batches.
The Bottom Line
The interest in BlockDAG is growing. However, we would like to remind readers that BlockDAG’s crypto blockchain network remains untested. We have to see how many developers and users BlockDAG will be able to draw to its network once its mainnet launches.
BlockDAG mainnet launch date is slated for late September 2024, according to the company’s roadmap.
