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Author Topic: IOTA  (Read 1463388 times)
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WorldCoiner
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November 18, 2015, 01:18:45 PM
 #701

Come-from-Beyond, mthcl or David just one additional question: Is the amount of IOTA-Token/Coins really 999’999’999 and there are 9 figures after decimal point, so one more than Bitcoin have? So IOTA has even smaller units like a Bitcoin Satoshi? Thanks for clarification.
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November 18, 2015, 01:31:17 PM
 #702

Come-from-Beyond, mthcl or David just one additional question: Is the amount of IOTA-Token/Coins really 999’999’999 and there are 9 figures after decimal point, so one more than Bitcoin have? So IOTA has even smaller units like a Bitcoin Satoshi? Thanks for clarification.

No. There will be 999'999'999'.999999999.
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November 18, 2015, 01:58:28 PM
 #703

Thanks for clarification. Probably my English was not good enough but this is what I've assumed, so .999999999 and not 0.99999999
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November 18, 2015, 02:38:00 PM
Last edit: November 18, 2015, 03:37:46 PM by Tobo
 #704

Come-from-Beyond, mthcl or David just one additional question: Is the amount of IOTA-Token/Coins really 999’999’999 and there are 9 figures after decimal point, so one more than Bitcoin have? So IOTA has even smaller units like a Bitcoin Satoshi? Thanks for clarification.
No. There will be 999'999'999'.999999999.

So they are all integer and total # is 1 quintillion minus 1, right? - https://en.wikipedia.org/wiki/Names_of_large_numbers
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November 18, 2015, 03:56:22 PM
 #705

So they are all integer and total # is 1 quintillion minus 1, right? - https://en.wikipedia.org/wiki/Names_of_large_numbers

Maybe. There is ambiguity in number names, e.g. sometimes a billion contains 9 zeros, sometimes 12. There are 18 decimal places in Iota amounts.
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November 18, 2015, 05:42:22 PM
 #706

So they are all integer and total # is 1 quintillion minus 1, right? - https://en.wikipedia.org/wiki/Names_of_large_numbers
Maybe. There is ambiguity in number names, e.g. sometimes a billion contains 9 zeros, sometimes 12. There are 18 decimal places in Iota amounts.

What is the rationale to create such a huge amount of coins?
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November 18, 2015, 05:59:30 PM
 #707

So they are all integer and total # is 1 quintillion minus 1, right? - https://en.wikipedia.org/wiki/Names_of_large_numbers
Maybe. There is ambiguity in number names, e.g. sometimes a billion contains 9 zeros, sometimes 12. There are 18 decimal places in Iota amounts.

What is the rationale to create such a huge amount of coins?

Micro-Transactions.
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November 18, 2015, 06:08:36 PM
 #708

So they are all integer and total # is 1 quintillion minus 1, right? - https://en.wikipedia.org/wiki/Names_of_large_numbers
Maybe. There is ambiguity in number names, e.g. sometimes a billion contains 9 zeros, sometimes 12. There are 18 decimal places in Iota amounts.

What is the rationale to create such a huge amount of coins?

Micro-Transactions.

Exactly, 10^18 units is not that much if we recall share size of IoT market.
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November 18, 2015, 06:21:27 PM
 #709

Now I have understood. Thanks. The first Investors will really be whales ;-)
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November 18, 2015, 06:24:56 PM
 #710

Exactly, 10^18 units is not that much if we recall share size of IoT market.

so the sellers can price the data by per byte, or something like that, correct?
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November 18, 2015, 08:08:20 PM
 #711

Exactly, 10^18 units is not that much if we recall share size of IoT market.

so the sellers can price the data by per byte, or something like that, correct?

even per bit :-)
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November 18, 2015, 08:26:16 PM
 #712

so the sellers can price the data by per byte, or something like that, correct?

Depends. Bandwidth is too cheap for pricing per byte.
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November 18, 2015, 08:51:55 PM
 #713

What will be the fee structure of IOTA?  Or will there even be one?

A Personal Quote on BTT from 2011:
"I'd be willing to make a moderate "investment" if the value of the BTC went below $2.00.  Otherwise I'll just have to live with my 5 BTC and be happy. :/"  ...sigh.  If only I knew.
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November 18, 2015, 09:10:58 PM
 #714

What will be the fee structure of IOTA?  Or will there even be one?

There is no fees in Iota, you "pay" by securing the system.
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November 19, 2015, 06:46:25 PM
 #715

Can Itoa client be installed in most of today's sensors in term of the hardware requirement or do most of today's sensors meet the minimum hardware requirement to install Itota client?
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November 19, 2015, 07:45:37 PM
 #716

Can Itoa client be installed in most of today's sensors in term of the hardware requirement or do most of today's sensors meet the minimum hardware requirement to install Itota client?

Full client can't run on MCUs with 64 KiB RAM, but lightweight part can.
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November 19, 2015, 08:20:44 PM
 #717

Full client can't run on MCUs with 64 KiB RAM, but lightweight part can.

How many full clients does the network need to support all the operation of lightweigh clients (Is there an ideal ratio between the two)?
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November 19, 2015, 08:36:17 PM
 #718

How many full clients does the network need to support all the operation of lightweigh clients (Is there an ideal ratio between the two)?

There is no dependency.
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November 20, 2015, 07:06:53 PM
 #719

Hi, may I ask some question:
How do you handle the messaging stuff?
Do you use a proprietary protocol from you Jinn software part or is it something common?
What kind of message architecture is planned (peer2peer one way pub => sub, multiplexing, ..., with middle ware)?
If the performance == message load scales well with increasing network this could be an really interesting part.
Do you expect some bottlenecks or maybe have some measurements from current tests?

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November 20, 2015, 07:24:37 PM
 #720

Hi, may I ask some question:
How do you handle the messaging stuff?
Do you use a proprietary protocol from you Jinn software part or is it something common?
What kind of message architecture is planned (peer2peer one way pub => sub, multiplexing, ..., with middle ware)?
If the performance == message load scales well with increasing network this could be an really interesting part.
Do you expect some bottlenecks or maybe have some measurements from current tests?

We are planning to use https://en.wikipedia.org/wiki/User_Datagram_Protocol running on top of https://en.wikipedia.org/wiki/IPv6. Because of the small size of the packets https://en.wikipedia.org/wiki/Path_MTU_Discovery and https://en.wikipedia.org/wiki/IP_fragmentation are not required which simplifies networking to the max possible degree. Messages will look like transactions, they will secure the network by "paying" with PoW for their delivery to the majority of the nodes. Messages won't be preserved, only their hash will be, so the recipient will get a message only if he is online or one of the nodes decided to archive and retransmit the message after a special request which itself can be such a message.
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