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IOTA is an open-source distributed ledger protocol that goes 'beyond blockchain' through its core invention of the blockless ‘Tangle’
The IOTA Tangle is a quantum-proof Directed Acyclic Graph, with no fees on transactions & no fixed limit on how many transactions can be confirmed per second in the network. Instead, throughput grows in conjunction with activity in the network; the more activity, the faster the network. Unlike blockchain architecture, IOTA has no separation between users and validators; rather, validation is an intrinsic property of using the ledger, thus avoiding centralization
IOTA is initially focused on serving as the backbone of the emerging Internet-of-Things (IoT).
What is IOTA? In this video I will cover the basics of IOTA(MIOTA) for beginners. I will go over some of the main features as well as the consensus methods using Tangle technolog ...
Organization: WhoisGuard, Inc.
Name: WhoisGuard Protected
Address: P.O. Box 0823-03411
Creation date: 1997-09-30
Expiration date: 2023-09-29
In this paper we analyze the mathematical foundations of IOTA, a cryptocurrency for the Internet-of-Things (IoT) industry. The main feature of this novel cryptocurrency is the tangle, a directed acyclic graph (DAG) for storing transactions. The tangle naturally succeeds the blockchain as its next evolutionary step, and offers features that are required to establish a machineto-machine micropayment system.<br />
The whitepaper of IOTA is 28 Pages long.
The most influencial keywords are: Transactions, Tips, Attackers, Approve, Tip selection, Nodes, Weights, Time, Possible attack, and Random.file_downloadOpen Whitepaper
Digital currency for the real world – the fast and free way to pay for everything in life. WIth instant transactions, zero fees*, and scalable network *There is required POW work to do, when you want to send transaction through network (there is 0 fee in terms of absolute value, but you need to "pay" in your computational power) Dev fund (premine): 7 000 000 NANO
NOS (XNOS) is a decentralized cryptocurrency for feeless & instant transfer & store of value.
Don't let your memes be dreams! Banano is a fourth-generation cryptocurrency that offers feeless, instant and green transactions. It utilizes a novel DAG (Directed Acyclic Graph) based block-lettuce™ architecture, where each user possesses his own blockchain. Banano is a meme cryptocurrency with a free and fair ongoing distribution.
IOTA was founded back in July 2017.
Its source code was released publicly on github on October 2016
under the GNU General Public License v3.0 license.
Organization wise, IOTAs Development is Semi-centralized and is being developed under the lead of Ralf Rottmann.
The consensus on which the IOTA network is run is called Tangle, while
the underlying algorithm is called DAG.
In the current state of IOTA currently is Beta version
Welcome to r/IOTA! -- IOTA is a quantum-resistant distributed ledger protocol launched in 2015, focused on being useful for the emerging m2m economy of Internet-of-Things (IoT), data integrity, micro-/nano- payments, and anywhere else a scalable decentralized system is warranted. IOTA uniquely offers zero fees, no scaling limitations, and decentralized consensus where users are also validators. The digital currency 'iota' has a fixed money supply with zero inflationary cost.
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Official Twitter account for IOTA
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|Smart City Expo||11.20.2019||Wilfried Pimenta, our Director of Business Development, will be among the speakers at the AI & Blockchain Summit in the Smart City Expo Worl.|
|Karlsruhe Meetup||12.10.2019||"Come learn about the IOTA technology! Dec 10 at 6PM CEST."|
|Berlin Meetup||12.11.2019||"Join us for the “2019 recap & 2020 outlook” MeetUp, organized by IOTA & @iotashop."|
|Blockchain Economy 2020||02.20.2020||“Blockchain Economy” Date: February 20-21th, 2020 Venue: WOW Convention Center, Istanbul, Turkey.|
The Google Trends chart displays the search interest on google in IOTA relative to its peak over the last year. A rising chart shows growing interest int he project.
Every change to the codebase of IOTA is registered as a commit. More active projects have many commits, dead projects nearly none.
Extending a project results in many new lines of code. Changing existing code results in nearly the same amount of additions and deletions. Projects that are growing show a large number of code additions with relatively few deletions.
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Convert between MIOTA and USD with the live IOTA prices, aggregated from all big exchanges that trade IOTA.
Volume from exchanges is considered untrusted if the exchange has little reputation and no License but reports suspiciously high trading volume in particular coins.
Sergey Ivancheglo -
Member board of directors & founder
He holds a Bachelor of Science with specialization in electronics and artificial intelligence. He has been working as a software engineer for more than 20 years, and since 2011 he has been primarily focused on Distributed Ledger Technology. Since childhood, he has been interested in the development of computer games, which later transformed into an interest in Massively Multiplayer Online Games and Virtual / Augmented Reality.
Member board of directors
Managing director, ecosystem development fund
Senior product manager
Senior software engineer
Senior research scientist
Senior software engineer
IOTA, undoubtedly has an unmatched potential to be used in an endless array of many real- world scenarios. Recent developments have occurred which are all in favor of the technology. Among them is the acceptance of IOTA as a technology of the future that will lead the IoT industry. To advance this purpose, Süddeutsche Zeitung, one of Germany’s biggest newspaper, held its annual summit in 2018. At the summit, Dominik Schiener (IOTA’s co-founder) met and held a panel discussion with Helge Braun, Head of the Chancellery & Federal Minister for Special Affairs for Germany. The summit also featured Angela Merkel (German Chancellor), Jean-Claude Juncker (President of the EU Commission), and several ministers of the German government. Among the attendees were the top administration of many high-ranking German companies (Mueller, 2018).
The team behind IOTA, at IOTA Foundation are reportedly working with Deutsche Telekom, Europe’s largest telecommunication providers, and Deutsche Bahn, world’s second largest transport company to adopt IOTA and contribute to the IOTA Data Marketplace (Mueller, 2018). Adding to this, Jaguar Land Rover, which is one of the leading automobile manufacturers in Europe, is working on a project that will reward its drivers with IOTA cryptocurrency in exchange for them sharing data related to their location, road quality, car health, navigation etc. (Chavez-Dreyfuss, 2019). All these developments regarding IOTA technology shows how serious and impactful this cryptocurrency can be.
In January 2018, a wave of IOTA thefts swept the internet. A conman set up a website that claimed to guide the masses with the basics of IOTA and provided them with services like seed generation for their IOTA wallets. Deep down the otherwise seemingly safe website lied the scam of stealing IOTA coins from the user’s wallets. Fortunately, Europol with the help of German and British authorities, and the support of IOTA’s active community, was able to track down and arrest the man behind the notorious scam (Cimpanu, 2019).
Additionally, the most important and the latest development regarding IOTA is that it is set to become standardized. According to Richard Soley, CEO of Object Management Group, the IOTA technology will be standardized by the International Organization for Standardization (ISO) by the end of the next year (Jain, 2019). After standardization, new horizons will open up for IOTA; it will become open-sourced and probably even more widely recognized and adopted.
The IOTA Foundation is the main body representing and developing the IOTA technology. Under their hood, they have many projects which aim at renewing, updating and developing the code frequently.
As mentioned earlier, Tangle is the technology that enables the IOTA currency to become a decentralized asset, unlike all other cryptocurrencies which are based on blockchain technology. In December 2018, IOTA Foundation in partnership with Cybercrypt A/S developed a lightweight trinary cryptographic hash function which is designed to provide safeguard against all known cyber and crypt-based attacks. The hash function has been named Troika (Harbor, 2018).
IOTA projects are frequently getting updates.
Iota attempts to become the main currency for all transactions of the Internet of Things (IoT). For this to happen Iota needs to solve the current problems of scalability, transaction speed and centralization. Iota (MIOTA), is a cryptocurrency, specifically designed to process financial transactions that are faster, safer, cheaper, smaller and scalable (IOTA Support, 2018). This technology addresses the major concerns of scalability and transaction fees linked with other cryptocurrencies. IOTA offers a unique technique of facilitating transactions by eliminating the need of Blockchains. Unlike many other cryptocurrencies, it uses distributed ledgers. This enables it to take the ‘miners’ out of the picture, and serve the purpose of faster and cheaper transactions using a mathematical concept of Directed Acyclic Graphs. This is the main essence of the IOTA technology which separates IOTA with every other cryptocurrency out there (Everything Tangle, 2017). The idea is good, but we are a few steps away for IoT transactions to be used globally.
The underlying goal of IOTA is to provide seamless transactions which are both fast and cheap. In order to do this, IOTA has replaced the blockchain technology with its own technology known as Tangle (IOTA Foundation, 2018). Tangle is a system of interlinked and individual transactions which are stored across a network of users. When a transaction is initiated, it needs to verify two previous random transactions, meaning each user plays the role of a miner by processing the previous transactions of other participants.
However, it is difficult to process transactions on a decentralized network like Tangle, as the data that needs to be obtained comes from outside the execution environment. To address this problem, IOTA has developed its own protocol, known as Qubic, which provides the solution in form of quorum based computing (IOTA, 2018). In layman terms, Qubic offers support to the Tangle technology in form of multiprocessing capabilities. The current version of the Tangle doesn't work in a decentralized way, as it's still dependent on a controlling unit, the Coordinator. Transactions are fast and cheap, but the system is still centralized through this Coordinator.
IOTA was founded by David Sønstebø, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov in 2015 (IOTA Support , 2018). Dr. Serguei Popov, a Ph.D. in mathematics, developed the mathematical model of the technology they call ‘Tangle’, while it was transformed into code form by the software geniuses Sergey Ivancheglo and Dominik Schiener. The whole project is headed by David Sønstebø who is an expert in both business and technology. The team is well balanced and trustworthy, with each of them being involved in the cryptocurrency industry for a considerable amount of their career.
|Security||The developers of IOTA and its hash function Troika boasts the security of their technology which lack blockchains. In fact, the IOTA Foundation has announced shared of up to $220,000 to anyone who can find loopholes in their technology.|
|Transactions per second||IOTA technology is much quicker than other cryptocurrencies. To put things in perspective, IOTA can process 500-800 transactions per second as compared to bitcoin’s 7 transactions per second.|
|Transaction cost||IOTA, apparently, does not charge any processing fees. Its transaction cost is zero.|
|Enery consumption||As IOTA is not based upon blockchains, it does not require mining. Therefore, IOTA is very energy-friendly. Since the validation process of IOTA’s transaction does not involve heavy computations, it is not energy-intensive. All it requires is a minimal amount of energy from the devices of its users.|
|Product availability||IOTA exists in an actual product form. It is being used in many applications, while many industrial giants are making use of the technology to incorporate it in their IoT projects.|
|Adoption||With IoT in its initial phases, the use of IOTA is limited. We can say the technology is a little ahead of its time and is currently premature.|
|Transaction speed||Since part of the IOTA transaction process requires verification from other users, the speed depends upon the number of users present on the network. At present, people have demonstrated IOTA’s transaction speeds which take up to 4-5 minutes to send and receive IOTA coins.|
|Decentralization||The coin is centralized though the Coordinator.|
|Exchange availability||The coin is not available on the major trusted exchanges.|
|Privacy||IOTA technology complies with the rules and regulations of EU General Data Protection Regulation, which means it secures the transactional data of its users. However it is only pseudonymous.|
With the industry talking about the Industrial Revolution 4.0 and the paradigm shift to the Internet of Things, IOTA offers a strong and an impactful resource in its core. The possibility of eliminating all the middle men from the financial transactions and making them more scalable deems IOTA a very certain technology of the future if the IOTA foundation manages to breach the chains of the trilemma by integrating the Coordicide.
Coordicide, which is being named as the next step in IOTA’s evolution, is a project that eliminates the Coordinator from the financial transaction, rendering IOTA a long-term decentralized platform (Markus, 2019).
Another project supporting the IOTA technology is the Trinity Wallet being launched by the IOTA Foundation that is designed specifically for IOTA cryptocurrency.
IOTA technology has seemingly many real-world applications. With the developments towards IoT, the use of IOTA increases day by day. The technology has massive potential of being a technology of the future.
IOTA was created with the sole purpose of enabling financial transaction within the machine economy and thus creating an ecosystem for the Internet of Things (IoT). It uses a technology known as Tangle, as opposed to the blockchain concept that all other cryptocurrencies use. It solves the problem with apparently zero- processing fees while allowing for much smaller transactions. The technology was developed for the Internet of Things devices and is therefore designed as a technology of the future. There is currently no known cryptocurrency that tackles the same niche as IOTA.
IOTA has already partnered with many industrial giants and is working on many different projects. The Foundation has developed the IOTA Data Marketplace in partnership with Bosch (Bosch Connected Devices and Solutions GmbH, 2019), is working on an innovative parking app with Edag (Lange, 2019). A smart city project is in the testing phase in collaboration with Fujitsu and Samsung (Paradigm, 2019).
Also, IOTA Foundation is eyeing to generate seed funds with the start-up studio Nova for entrepreneurs that aim to contribute to the decentralised ledger technology (O'Brien, 2019).
The IOTA User community is very active and frequently works on the development of the IOTA technology. Recently, the IOTA Foundation has announced $5 million in grants to research that aims to develop, optimize and facilitate in improving the IOTA technology (Greve, 2019).
The team behind IOTA, is the IOTA Foundation, which is led by David Sønstebø. Among the founders are Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov. The supervisory team is led by Richard Soley, while the executive members all possess top-notch resumes and have ample experience in the relevant field (IOTA Support , 2018).
|# 1||Bitfinex||MIOTA/USD||$ 0.212210||$ 2,219,401||check|
|# 2||Bitfinex||MIOTA/BTC||$ 0.211893||$ 376,422||check|
|# 3||Binance||MIOTA/ETH||$ 0.214084||$ 280,395||check|
|# 4||Binance||MIOTA/BNB||$ 0.214308||$ 144,183||check|
|# 5||Bitfinex||MIOTA/ETH||$ 0.213394||$ 87,106||check|
|# 6||Binance||MIOTA/BTC||$ 0.213212||$ 2,530,331||check|
|# 7||Binance||MIOTA/USDT||$ 0.214921||$ 2,205,833||check|
|# 8||Bitfinex||MIOTA/EUR||$ 0.211728||$ 46,705||check|
|# 9||Bitfinex||MIOTA/GBP||$ 0.213344||$ 26,933||check|
|# 10||Bitfinex||MIOTA/JPY||$ 0.213308||$ 23,067||check|
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