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Title: Is there a Protocol besides IOTA Post by: 8CommaClub on February 28, 2018, 04:36:09 PM Which allows for unlimited transactions per second / Instanteous transactions / No fees other then IOTA?
Title: Re: Is there a Protocol besides IOTA Post by: rillater on February 28, 2018, 07:14:07 PM Iota is not using blockchain, it works in a system called Tangle. In this way, Iota does not need miners, so there is no need to pay fees.
In the blockchain, when a shipment is made, the miners are in charge of validating the transactions, so that a few miners are dedicated to validating thousands or millions of transactions. The Idea of Iota is that in order for your transaction to be executed, you must first allow your device to validate 2 transactions. And that's how Tangle technology works. Basically to execute your transaction in the iota network, you have to confirm two other transactions, in this way everyone is participating in this network. IOT is the acronym for Internet of Things, a movement that seems to tends technology irrevocably. IOTA is a technology that would greatly favor this movement. Title: Re: Is there a Protocol besides IOTA Post by: 8CommaClub on March 01, 2018, 02:41:24 AM Iota is not using blockchain, it works in a system called Tangle. In this way, Iota does not need miners, so there is no need to pay fees. In the blockchain, when a shipment is made, the miners are in charge of validating the transactions, so that a few miners are dedicated to validating thousands or millions of transactions. The Idea of Iota is that in order for your transaction to be executed, you must first allow your device to validate 2 transactions. And that's how Tangle technology works. Basically to execute your transaction in the iota network, you have to confirm two other transactions, in this way everyone is participating in this network. IOT is the acronym for Internet of Things, a movement that seems to tends technology irrevocably. IOTA is a technology that would greatly favor this movement. It seems like the idea of IOTA is solid but the cryptography is something to be questioned at this point. The curl hash function was removed and it's still not decentralized. Since MIT tested IOTAs protocol , They have made some collisions which i believe could break their cryptography since it's not really been tested and vetted. i'd like to look into alternatives to find a way to fix IOTA protocols , or at least change it into something different using a different protocol.. |