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Title: Will you buy any Iota (block-LESS coin)? Post by: cloudboy on October 21, 2015, 07:30:51 PM What are your thoughts on a coin without blocks, instead using a directed acyclic graph?
It seems very interesting to me, and if it can enable true micro-payments, lower transaction fees by not having to compete to get accepted in a block, and confirms quickly, this could revolutionize cryptocurrencies in my opinion. https://bitcointalk.org/index.php?topic=1216479.0 (https://bitcointalk.org/index.php?topic=1216479.0) Can't wait for release, apparently around Christmas. Title: Re: Will you buy any Iota (block-LESS coin)? Post by: r0ach on October 22, 2015, 04:45:54 AM Where do I sign up?
http://www.youtube.com/watch?v=3gfntBEI3Aw Title: Re: Will you buy any Iota (block-LESS coin)? Post by: TPTB_need_war on October 23, 2015, 12:13:06 PM Come-from-Beyond has been very cordial to me, so I don't want to defecate on his effort. I have my doubts about viability for the following reason. The ramifications of this probably needs to be discussed more. But it seems to me that having users who send transactions viewing all the transactions before they can send is the antithesis of instant microtransactions and also places a burden on who can send a transaction. You need certain minimum level of connectivity and bandwidth on your connection just to send a transaction. It is an interesting concept and maybe DAG can be integrated in other ways into cryptocurrency. Maybe he needs to figure out how to eliminate this apparent weakness with some paradigm shift. Note it appears to me that Lightning Networks (https://bitcointalk.org/index.php?topic=1153740.msg12759454#msg12759454) is in some facets (not all) similar to a DAG concept. Perhaps thinking about those two different paradigms will lead to some epiphany. Hey cool name Iota (IoT)! Good one! Can you explain to me why this doesn't require every connected IoT that wants to sign a transaction to not have to listen to every transaction on the network? Doesn't the bandwidth requirements of that limit which sort of devices can participate? Can a IoT device proxy its request a well powered server? Are you talking about on- or off-tangle payments? Lol I don't know. I guess I mean on-tangle, those participating in your algorithm? For on-tangle payments a device needs to see majority of the transactions. Good news is that it needs this only if it's about to make or check a payment, most of time it can store and broadcast transactions without their verification (only PoW needs to be verified to avoid spam attacks). Title: Re: Will you buy any Iota (block-LESS coin)? Post by: maokoto on October 23, 2015, 03:10:14 PM Interesting, thanks for sharing.
Do not really know if I would buy it, but I'll like to get some of them. The block-less concept seems good. |