Directed Acyclic Graphs (DAGs) offer a compelling alternative to traditional chain-based Distributed Ledger Technologies (DLTs) by enhancing scalability, throughput, and security. In this presentation, we will dissect critical design elements and compromises inherent in DAG-based DLTs, touching on consensus mechanisms and various approaches to writing access. Participants will gain insight into the delicate equilibrium among performance, security, and decentralization and the extent to which these factors can be mathematically modelled. Finally, the presentation will explore the recent DAG-based IOTA 2.0 consensus, elucidating its design rationale and underlying principles.