Bitcoin Forum
November 25, 2017, 11:49:54 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 ... 601 »
  Print  
Author Topic: IOTA  (Read 1118359 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic.
Come-from-Beyond
Legendary
*
Offline Offline

Activity: 1778

Newbie


View Profile
October 21, 2015, 06:06:02 PM
 #1



www.iotatoken.com
https://twitter.com/iotatoken

Iota

Iota is a brand new and novel micro-transaction cryptotoken optimized for the Internet-of-Things (IoT). 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.

The number of connected devices that will permeate our modern landscape in the coming decade is estimated to be 50 billion(!) Each of these are designed to make the world a better and more seamless place for us. Tied to this fantastic promise are of course a ton of obstacles to be overcome, of which one major one is micro-transactions. 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. This is why Iota was conceived.

While it was developed as a solution to scalability issues faced in IoT, the underlying protocol is agnostic and can be applied in any other use-cases that utilize micro-transactions.

In order to achieve these audacious goals Iota’s design diverged radically from blockchain cryptocurrencies. It still retains the core principle ideas of the distributed consensus blockchain, but in order to be able to scale to the size of the coming Internet-of-Things ecosystem with tens of billions of devices that are connected to each other, it needed to be very lightweight and efficient. This problem is solved by Iota’s core innovation: the tangle.

Tangle

A Tangle is a Directed Acyclic Graph (DAG).



Tangle vs Blockchain

Iota’s blockchain solves the following problems of its blockchain cousin:

Centralization of control
As history shows, small miners form big groups to reduce variation of the reward. This leads to concentration of power (computational and political) in hands of few pool operators and gives them ability to apply wide spectrum of policies (filtering, postponing) on certain transactions. Although there are no known cases where pool operators abused their power, there have been several instances where the opportunity were present. This possibility in a monetary system powering a multibillion (in USD) industry is completely unacceptable.

“Obsolete” cryptography
Although large scale quantum computers do not exist yet, future oriented companies have already begun initiating the steps towards quantum-resistant cryptography. From a security point of view it makes perfect sense to assume that hardware capable of cracking classical cryptoalgorithms may appear in the very near future, so preparation is the only defense.

Inability to conduct micropayments
Transaction fees are used to cover miner expenses and mitigate spam-attacks. They also set a threshold on the minimum amount of a payment below which money transfers become inexpedient.

Partition intolerance
Blockchain-based currencies are unable to survive long-sustained partitioning of the network because this may lead to reversal of a large number of transactions. It is also impossible to initiate an intentional partitioning in cases when it is required.

Discrimination of participants
Existing cryptocurrencies are heterogeneous systems with clear separation of roles (transaction issuers, transaction approvers). Such systems create unavoidable discrimination of some of their elements which in turn creates conflicts and makes all elements spend resources on conflict resolution.

Scalability limits
Some cryptocurrencies have hard limits on the maximum transaction rate and this limits cannot be removed in a decentralized manner. A magic number of a limit set before the launch cannot satisfy requirements of a system unless it is set by a person with extraordinary prediction skill. A too low value may hinder growth of the userbase, a too high value may open system to different kinds of attacks.

High requirements for hardware
Bitcoin-derived cryptocurrencies use its original script-based approach which allows implementation of a wide range of use-cases. Other currencies use an approach similar to one used by banks but add extra features. They both substantially raise requirements for hardware because of complex transaction processing logic.

Unlimited data growth
Storing of all state transitions leads to fast growth of data while does not increase stored balance information significantly. This inefficiency cannot be removed even with data pruning technique and high popularity of the currency may lead to its collapse.


Tangle-blockchain interoperability

Iota does not seek to replace the blockchain entirely, it also acts as a supplementation to the current blockchain ecosystem by acting as a oracle for smart contract platforms like Ethereum and Rootstock. Additionally it increases security of blockchains by enabling the ability to include checkpoints for transactions.



special thanks to: Jimmy2011 and Kushti for reviews.

Also worth noting: Sergio_Demian_Lerner's thread about DAG in crypto here: https://bitcointalk.org/index.php?topic=1177633.0



http://cointelegraph.com/news/115508/iota-a-blockchain-less-gasp-token-for-the-internet-of-things




If you did not claim your iotas in the automatic claiming period contact @David over at https://slack.iotatoken.com where you will be given further instructions to manually claim your tokens. Tokens not claimed by 11th of July 2017 will be forfeited and considered donations.




A little FAQ section
On necessity to have quantum-resistant algorithms: Look here - http://9to5google.com/2015/11/11/google-planning-a-watershed-quantum-computing-announcement-december-8/
On resource requirements: A cheap microcontroller and 16 KiB RAM should be enough for payments once payment channels with peers are established
On IoT market capitalization: http://www.mckinsey.com/insights/mgi/in_the_news/by_2025_internet_of_things_applications_could_have_11_trillion_impact
On supported platforms: Most of popular OSes with help of http://www.jwrapper.com
On hardware support: Included


WARNING: https://twitter.com/comefrombeyond is an imposter who will likely try to conduct a scam.
1511610594
Hero Member
*
Offline Offline

Posts: 1511610594

View Profile Personal Message (Offline)

Ignore
1511610594
Reply with quote  #2

1511610594
Report to moderator
1511610594
Hero Member
*
Offline Offline

Posts: 1511610594

View Profile Personal Message (Offline)

Ignore
1511610594
Reply with quote  #2

1511610594
Report to moderator
Join ICO Now Coinlancer is Disrupting the Freelance marketplace!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511610594
Hero Member
*
Offline Offline

Posts: 1511610594

View Profile Personal Message (Offline)

Ignore
1511610594
Reply with quote  #2

1511610594
Report to moderator
iotatoken
Hero Member
*****
Offline Offline

Activity: 714


View Profile
October 21, 2015, 06:07:05 PM
 #2

reserved

Sir_Astral
Hero Member
*****
Offline Offline

Activity: 546


View Profile
October 21, 2015, 06:09:01 PM
 #3

ICO again  Huh
Crypto Promotions
Newbie
*
Offline Offline

Activity: 10


View Profile
October 21, 2015, 06:10:21 PM
 #4

Wish You good luck. Interesting project.

If You're interested to promote your project to more people, please take a look here: https://bitcointalk.org/index.php?topic=1214526.0

www.twitter.com/CryptoPromote
bitspender
Hero Member
*****
Offline Offline

Activity: 644



View Profile
October 21, 2015, 06:12:14 PM
 #5

If i'm not mistaken, this project is already in long development since i've read about this, let's call it a year ago, by a Hero member in PM.
Reserved.

Febo
Legendary
*
Offline Offline

Activity: 1246



View Profile
October 21, 2015, 06:13:29 PM
 #6

next NXT?

.BitDice.               ▄▄███▄▄
           ▄▄██▀▀ ▄ ▀▀██▄▄
      ▄▄█ ▀▀  ▄▄█████▄▄  ▀▀ █▄▄
  ▄▄██▀▀     ▀▀ █████ ▀▀     ▀▀██▄▄
██▀▀ ▄▄██▀      ▀███▀      ▀██▄▄ ▀▀██
██  ████▄▄       ███       ▄▄████  ██
██  █▀▀████▄▄  ▄█████▄  ▄▄████▀▀█  ██
██  ▀     ▀▀▀███████████▀▀▀     ▀  ██
             ███████████
██  ▄     ▄▄▄███████████▄▄▄     ▄  ██
██  █▄▄████▀▀  ▀█████▀  ▀▀████▄▄█  ██
██  ████▀▀       ███       ▀▀████  ██
██▄▄ ▀▀██▄      ▄███▄      ▄██▀▀ ▄▄██
  ▀▀██▄▄     ▄▄ █████ ▄▄     ▄▄██▀▀
      ▀▀█ ▄▄  ▀▀█████▀▀  ▄▄ █▀▀
           ▀▀██▄▄ ▀ ▄▄██▀▀
               ▀▀███▀▀
        ▄▄███████▄▄
     ▄███████████████▄
    ████▀▀       ▀▀████
   ████▀           ▀████
   ████             ████
   ████ ▄▄▄▄▄▄▄▄▄▄▄ ████
▄█████████████████████████▄
██████████▀▀▀▀▀▀▀██████████
████                   ████
████                   ████
████                   ████
████                   ████
████                   ████
████▄                 ▄████
████████▄▄▄     ▄▄▄████████
  ▀▀▀█████████████████▀▀▀
        ▀▀▀█████▀▀▀
▄▄████████████████████████████████▄▄
██████████████████████████████████████
█████                            █████
█████                            █████
█████                            █████
█████                            █████
█████                     ▄▄▄▄▄▄▄▄▄▄
█████                   ▄█▀▀▀▀▀▀▀▀▀▀█▄
█████                   ██          ██
█████                   ██          ██
█████                   ██          ██
██████████████████▀▀███ ██          ██
 ████████████████▄  ▄██ ██          ██
   ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ██          ██
             ██████████ ██          ██
           ▄███████████ ██████▀▀██████
          █████████████  ▀████▄▄████▀
[/]
iotatoken
Hero Member
*****
Offline Offline

Activity: 714


View Profile
October 21, 2015, 06:15:26 PM
 #7

ICO again  Huh

Details surrounding distribution and crowdsale regarding IOTA will come at a later time. This thread is for discussion of IOTA technology.

billotronic
Legendary
*
Offline Offline

Activity: 1512


Crackpot Idealist


View Profile
October 21, 2015, 06:18:23 PM
 #8

interesting read.

ball park eta til you have something in the wild?

This post sums up why all this bullshit is a scam
Read It. Hate It. Change the facts that it represents.
https://bitcointalk.org/index.php?topic=1606638.msg16139644#msg16139644
Anon136
Legendary
*
Offline Offline

Activity: 1330



View Profile
October 21, 2015, 06:21:57 PM
 #9

thanks for the heads up cfb. ill go ahead and claim some real estate on the first page.  Smiley

Rep Thread: https://bitcointalk.org/index.php?topic=381041
If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
bit1
Legendary
*
Offline Offline

Activity: 882



View Profile
October 21, 2015, 06:23:11 PM
 #10

Scale quantum computers do not exist yet maybe until 3000 year and who knows, While we need things to current devices to be used 2016-2999, So why hurry? What's the rush to “Obsolete” all convert?

bitJob                       ▄▄▄██████▄▄▄
                ▄▄▄▄██████████████████▄▄▄▄
        ▄▄▄▄██████████████████████████████████▄▄▄▄
  ▄▄▄████████████████████████████████████████████████▄▄▄
██████████████████████████████████████████████████████████
  ▀▀██████████████████████████████████████████████████▀▀
      ▀▀█████████████████████████████████████████████
         ████████████████████████████████████████  ██
         ████████████████████████████████████████  ██
         ████████████████████████████████████████  ██
         ████████████████████████████████████████  ██
         ████████████████████████████████████████  ██
         ████████████████████████████████████████  ██
         ▀██████████████████████████████████████▀  ██
          ▀▀██████████████████████████████████▀▀  ████
                                                 ▄████▄
                                                ▀▀████▀▀
IIII
kimosan
Hero Member
*****
Offline Offline

Activity: 625


SOHK Accredited Autodidact


View Profile
October 21, 2015, 06:25:16 PM
 #11


Watching. Tried to subscribe to the newsletter but getting an error, please try later. So.. will do.
Come-from-Beyond
Legendary
*
Offline Offline

Activity: 1778

Newbie


View Profile
October 21, 2015, 06:31:28 PM
 #12

ball park eta til you have something in the wild?

By Christmas.
macsga
Legendary
*
Offline Offline

Activity: 1442


Strange, yet attractive.


View Profile
October 21, 2015, 06:31:41 PM
 #13

Interesting technology; worth watching. Following and expecting details on distribution.

iotatoken
Hero Member
*****
Offline Offline

Activity: 714


View Profile
October 21, 2015, 06:32:57 PM
 #14

Scale quantum computers do not exist yet maybe until 3000 year and who knows, While we need things to current devices to be used 2016-2999, So why hurry? What's the rush to “Obsolete” all convert?

This is largely a myth. If you have kept up to date on quantum computer development in the last years, you will see that this is indeed something that needs to be prepared for right away, especially for Internet-of-Things reliant technology that will automate virtually everything.

Come-from-Beyond
Legendary
*
Offline Offline

Activity: 1778

Newbie


View Profile
October 21, 2015, 06:34:35 PM
 #15

Scale quantum computers do not exist yet maybe until 3000 year and who knows, While we need things to current devices to be used 2016-2999, So why hurry? What's the rush to “Obsolete” all convert?

https://www.nsa.gov/ia/programs/suiteb_cryptography/
BanzaiBTC
Legendary
*
Offline Offline

Activity: 952


BlockPioneers Developer


View Profile WWW
October 21, 2015, 06:38:02 PM
 #16

Very interesting concept. I read the whitepaper, and I must say I am pretty impressed..

Good luck with your project
BTCDDev
Sr. Member
****
Offline Offline

Activity: 256


View Profile
October 21, 2015, 06:47:05 PM
 #17

Great job Cfb. Can't wait.

BitcoinDark: RPHWc5CwP9YMMbvXQ4oXz5rQHb3pKkhaxc
Top Donations: juicybirds 420BTCD ensorcell 84BTCD Stuntruffle: 40BTCD
Top April Donations: juicybirds 420BTCD; ensorcell: 42BTCD
CryptoHobo
Legendary
*
Offline Offline

Activity: 1050



View Profile
October 21, 2015, 06:47:24 PM
 #18

intriguing
EvilDave
Hero Member
*****
Offline Offline

Activity: 854



View Profile
October 21, 2015, 06:48:10 PM
 #19

Interesting....anything CfB shaped gets my attention.

Nulli Dei, nulli Reges, solum NXT
Love your money: www.nxt.org  www.ardorplatform.org
www.nxter.org  www.nxtfoundation.org
bit1
Legendary
*
Offline Offline

Activity: 882



View Profile
October 21, 2015, 06:49:26 PM
 #20

Scale quantum computers do not exist yet maybe until 3000 year and who knows, While we need things to current devices to be used 2016-2999, So why hurry? What's the rush to “Obsolete” all convert?

This is largely a myth. If you have kept up to date on quantum computer development in the last years, you will see that this is indeed something that needs to be prepared for right away, especially for Internet-of-Things reliant technology that will automate virtually everything.
Scale quantum computers do not exist yet maybe until 3000 year and who knows, While we need things to current devices to be used 2016-2999, So why hurry? What's the rush to “Obsolete” all convert?

https://www.nsa.gov/ia/programs/suiteb_cryptography/

I'm trying to say is that because both things hasten the latent danger to turn humans in obsolete creating very powerful machines and moving the human interaction  more and more into a virtual world like to a matrix. Progress is good when it this can be controlled but who says that this will always could be so. Turn it on blockchain and considering that  was born on 2009 it could be very soon to call it obsolete.

bitJob                       ▄▄▄██████▄▄▄
                ▄▄▄▄██████████████████▄▄▄▄
        ▄▄▄▄██████████████████████████████████▄▄▄▄
  ▄▄▄████████████████████████████████████████████████▄▄▄
██████████████████████████████████████████████████████████
  ▀▀██████████████████████████████████████████████████▀▀
      ▀▀█████████████████████████████████████████████
         ████████████████████████████████████████  ██
         ████████████████████████████████████████  ██
         ████████████████████████████████████████  ██
         ████████████████████████████████████████  ██
         ████████████████████████████████████████  ██
         ████████████████████████████████████████  ██
         ▀██████████████████████████████████████▀  ██
          ▀▀██████████████████████████████████▀▀  ████
                                                 ▄████▄
                                                ▀▀████▀▀
IIII
Pages: [1] 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 ... 601 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!