Topic: IOTA - page 636. (Read 1473405 times)

Tangle white paper  - http://188.138.57.93/tangle.pdf

Where can I read more about the tech that is used in IOTA?
OP didn't help me much.

The benefit and profit of having a free and effective and efficient marketplace to trade IoT data and other resources can be one of the incentives for the players and machines to maintain this marketplace with a very small cost .

but maybe IOT@

Iota doesn't have a 3-letter ISO code. It's tokens that are called iotas. Like chips that you drop into Jukebox to listen to a song.

There is no wallet yet. Dev is working on t.

You can buy IOTA here: https://bitcointalksearch.org/topic/m.14200201

We expect IOTA to be out this year on the markets  

There seems to be some confusion here:

Zero fees is enabled through the very structure of the network itself. You need to verify previous transactions when you yourself want to send iota txs, but it's such a negligible amount of PoW that you don't need further compensation. So IOTA is a self-sustaining ecosystem, unlike regular blockchains where you have a separate pool of people validating blocks via PoW or PoS who need to be compensated which manifests as a fee, IOTA instead spread the verification throughout the entire network of users.

So it's not like one of IOTA's unique selling points of zero fees hinges upon some abstract altruism (although as CfB points out empirical data from other projects plus evolution shows altruism is indeed also an effective enabler), instead it's an intrinsic part of the very architecture of the Tangle technology in IOTA itself.

the following is the only comment I remember from the thread so far:


Im not sure what game theory says about altruism. I should read this https://en.wikipedia.org/wiki/Evolutionary_game_theory#Routes_to_altruism

I think a great aspect about no mining is the environmental aspect. The 0tx is a great but I also wonder what the incentive would be to process transactions, perhaps it is already explained somewhere.

OK, so if you are the "controller of a cloud of devices" we can say that you are incentivized to run nodes.

No, nodes do not charge for tx, but if you are the controller of a cloud of devices you can program them to work only under certain conditions.This gives more freedom to fmw developers

Interesting idea although my understanding was the network's unique advantages are partly built around 0 tx fees. If your node did charge to forward a tx (is this even possible to set-up?) why would I route through it? (unless it was unlocking something slock.it style perhaps?)

I have also discussed the IOTA rewards topic with some people. While you cant mine, it seems to me that all devices in the network will be forwarding transactions so they can charge an amount for doing so. If a device is connected to the network and you are controlling this device, you can program it for switching off if it is not doing anything useful, or if anybody pays it 1 IOTA in 24 hours for example. Maybe the model will be pay devices for their uptime, not for their forwarded transactions but of course, this relies completely in the devices firmware.
Many approaches possible, and different protocols can be built on top of.

So a few days ago I was talking to a software developer friend I think is pretty switched-on.
We've discussed many cryptos in the past and Ive got him to read a few whitepapers in the past for technical feedback.

I described IOTA to him, saying the PoW is in the tx's and how its based on a DAG. His ears instantly pricked up and he seemed intrigued. As it transpires DAG's are pretty basic stuff in Comp Science and he was able to grock what IOTA was attempting quickly.

He wasnt convinced about this IOTA "being built into the firmware" of IoT devices play, presumably since he thinks hw adoption of this kind is unlikely.

In the convo we also discussed game theory and incentives. My friend argued Satoshi's great genius was to provide the incentives necessary to make Bitcoin work.

These incentives (e.g. mining rewards) do not exist in IOTA and we agreed it'll be fascinating to see how this network evolves.

Just some thoughts.

I like this video very much ! Tweeted as well on https://twitter.com/IOTAecosystem

Tweeted that on https://twitter.com/IOTAecosystem

Some newbee questions about IOTA:

Is there a three letter shortcode for IOTA-(coin)?

Is there something like a wallet that in which I can store it?

Can I get it prerelease? How should I do?

When do you expect IOTA to be officially available on common markets?

Thank you for your answers.

Tweeted!! https://twitter.com/MagicNxt/status/709520906599735296 

More coverage of Iota and Tangle. Pardon the large chunk of text:

http://bitcoinist.net/vanbex-report-tangle-blockchain/

Mar. 14, 2016 — Has the conversation evolved already? Amid the blockchain technological push, another variation has emerged — the “tangle.”

The Vanbex Report is a periodic summary of the blockchain industry’s top news stories from the biggest companies, as well as the most promising newcomers.

The Tangle and the Blockchain

The Tangle or Directed Acyclic Graph (DAG) chain essentially means a collection of nodes or vertices, while allowing connectivity between nodes but with no circular edgings. In other words, you cannot start at one vertex and eventually loop back to that same vertex via a sequence of edges (connections).

A blockchain can be loosely defined as a ledger of transactions shared by participating nodes in the system operating under some kind of consensus protocol.

While blockchain technology will help automate contracts, the insurance industry, accounting, financial and others, there are critics that say such a robust framework is not ideal for machine-to-machine payments on a smaller scale.

Enter Iota, a micro-transaction cryptotoken said to be designed for the Internet-of-Things (IoT).

At a Bitcoin Talk, Iota stated: “Unlike the complex and heavy blockchains of Bitcoin and the like, which were designed with other uses in mind, Iota is created to be as lightweight as possible, hence the name “Iota” with emphasis on the ‘IoT’ part.”

IoT wrote further, “these connected IoT devices must be able to automatically pay miniscule amounts to one another in a frictionless manner without having to compromise on product design by introducing additional hardware.”

But will blockchain technology hinder this?

The IoT will permeate electronics, household items, bringing inanimate objects to life in a manner of semantics, granting selfless interaction to an estimated 20 billion connected devices by 2020.

IBM and Samsung’s vision of appliances of the future sounds like something out of a Pixar film.

They see appliances, objects of the future as being connected instruments, able to retrieve updates, trigger self-diagnoses for debugging and various other functions. This is something they call the Autonomous Decentralized Peer-to-Peer Telemetry (ADEPT) system, a concept which surfaced in 2015.

The ADEPT system would be connected to blockchains that provide the backbone of the system, using a mix of proof-of-work and proof-of-stake to secure transactions.

The issue of scalability and the cumbersome aspects seen within cryptocurrency networks was addressed by ADEPT, with the team stating in 2015: “Multiple efforts like sidechains, treechains, and mini-blockchains are ongoing to address this problem.”

“While each approach has its merits and demerits we are yet to see consensus on a common approach across the board. A blockchain to cater to hundreds of billions of devices needs to be scalable.”

Queue Iota. The company stated it isn’t seeking to replace the blockchain entirely.

Their technology will “also act as a supplementation to the current blockchain ecosystem by acting as an oracle for smart contract platforms like Ethereum and Rootstock.”

Further, Iota claims since its technology enables the ability to include checkpoints for transactions it will increase the security of blockchains.

These “value-added” aspects are pivotal.

Bitcoinist.net published an article titled, “IOTA: Internet of Things Without the Blockchain?” Security Ledger, a different piece, “Blockchain or Tangle? Securing Transactions on the IoT.”

The headlines suggest a one-or-the-other scenario.

Maybe Iota’s perspective is currently accurate, that blockchains are too complex for micro-transactions of the IoT world system, but blockchains are also malleable and as projects like Tendermint exhibit, the goal is agnostic programming for versatile use case applications.

It’s not the tangle versus the blockchain. It simply can’t be.

As the projection of billions of connected devices within the next decade are tossed around, it seems most practical Iota, as a micro-transaction cryptotoken, must operate in conjunction with the myriad blockchains that will connect the myriad devices belonging to a diverse corporate world of things.

I will help to test next weekend. I am very busy during the week. Hope my node helps to stabilizes the test network.