BlockDAG Network, a Layer 1 blockchain leveraging Directed Acyclic Graph (DAG) technology, has secured $220.5 million in its presale, marking a significant milestone as it prepares for a mainnet launch in the coming months, the company announced Thursday.

The presale, launched in December 2023, has attracted strong interest from investors and developers, positioning BlockDAG Network as a rising star in the blockchain world. With a target of $600 million, the project’s swift fundraising highlights confidence in its ability to deliver fast, scalable transactions—capable of handling over 2,000 transactions per second (TPS) at launch, with plans to reach 15,000 TPS.

“We’re not just building a blockchain; we’re creating an ecosystem ready for the future,” said Antony Turner, CEO of BlockDAG Network. “This $201.5 million fuels our drive for innovation, security, and global reach.” Turner emphasized practical features like built-in DeFi tools, EVM compatibility, and no-code token creation, designed to draw in developers and users.

BlockDAG Network tackles common blockchain issues like congestion and high fees with its GHOSTDAG protocol, enabling parallel transaction processing. Its beta testnet, now live, has handled over 1.2 million transactions across community-run nodes, showcasing scalability and stability, per a company statement. Security audits by Halborn and ongoing Certik reviews add to its credibility.

The project has also kicked off a $30 million grants program to support decentralized applications (dApps), DeFi protocols, and tools, paired with hackathons offering up to $100,000 in prizes. “BlockDAG’s grants and hackathons are a game-changer for developers,” said Jeremy Harkness, chief technology officer. “We’re building a platform where innovation thrives.” These efforts aim to create a strong developer community by the mainnet launch.

Investors are buzzing, with early backers enjoying a 2380% ROI as BDAG’s price climbed from $0.001 to $0.0248 in the 27th presale batch. Analysts predict it could hit $1 by year-end and $20 by 2027, fueled by listings on 10 centralized exchanges, according to a Bitrue report. That said, cryptocurrency investments come with risks, and potential investors should do their homework.

Still, some skepticism lingers. Critics point to aggressive marketing and similarities to Kaspa—a blockchain also using DAG for speedy transactions—as concerns, per CryptoManiaks. BlockDAG Network counters this by highlighting unique features like EVM compatibility and user accessibility.

The crypto community is hyped, with X posts calling the testnet launch and keynote event “history in the making.” A splashy ETHDenver appearance has boosted its global profile.

As BlockDAG Network approaches its mainnet launch, it aims to challenge major players like Ethereum and Solana. Its success hinges on meeting performance targets, maintaining investor confidence, and navigating market fluctuations and competition. Having raised $220.5 million by late April, according to BlockDAG Report, and with a clear roadmap, BlockDAG Network is poised to disrupt the blockchain landscape. Future exchange listings and dApp expansion will determine whether it can achieve its $600 million fundraising goal and secure a place among top cryptocurrencies.

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