Dolla is a emerging cryptocurrency that has been under creation and development when it was founded in 2016. It aims to solve the problems that current cryptocurrencies face in becoming a globally adopted payment solution, these problems are predominantly based around speed, throughput and cost.
Bitcoin for example has been proven to only handle a very small amount of transactions per second, between 3-6, with payments taking about an hour to finalise. This figures are clearly not scalable for Bitcoin to ever be used as a payment solution on a global level. Dolla on the other hand has a throughput of 10,000 transactions per second, an exciting development in the crypto world with their transaction confirmation time being only 1 second. These are the kind of features we look for in a global payment solution and Dolla appears to be able to deliver.
Dolla blockchain is developed using high-assurance methodologies. The reference implementation is written in the Haskell programming language, focusing on correctness and auditability.
In contrast to many other permissioned cryptocurrencies, Dolla is decentralised and not controlled by a single company or individual. Dolla is designed as a consortium fork-free blockchain with a linear history, which enables it to deliver high throughput, low latency and immediate finality. A majority quorum of consensus members agrees on each block to be appended to the blockchain in a lockstep fashion and a Dolla block is not committed until the majority quorum has decided to include it. Once it is committed, the block and the transactions within it are irreversible. Thus Dolla provides immediate finality.