IOTA: A Cryptoplatform for the Internet of Things

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56 points·Osiris30··11 comments

The "Tangle Approach" seems to do some awesome things:

- Seems to have similar robustness to bitcoin in terms of double-spend/attack defense.

- Handle high latency and network partitions gracefully

- Scales better and wastes less energy

- Gets rid of miners and makes the work to secure against double-spend just part of issuing transactions (security scales with transaction rate not mining rate!)

It does indeed. Whenever I see this project, I wonder if it works!

It works well everyday for us and we don't wonder, we enjoy it!

Not similar. It is by far more robust than bitcoin. Imagine a quantum computer mining. IOTA is designed to be quantum proof.

Well, I guess there'll be another ICO then?

Nope, all the coins have already been created (and I got some!!!). You will however be able to buy them on an exchange soon: https://blog.iota.org/exchange-launch-2d38c654349a

https://twitter.com/bitfinex/status/871457013993152514

The ICO was years ago. They've been focusing on their developer community instead of marketing.

Their github is fairly extensive with client ports to help devs: https://github.com/iotaledger

Link to the IOTA White Paper (PDF) (1), and a presentation (42min) on the Tangle blockless ledger (2).

(1) https://www.iotatoken.com/IOTA_Whitepaper.pdf (2) https://www.youtube.com/watch?v=tYbRyVrrUDY

There's also Byteball, which uses similar architecture, but is designed for payments. https://byteball.org/

Make sure to educate yourself on Byteball and IOTA. You'll see that they're very different from each other.

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