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Proyect IOTA

In last week we can find news about IOTA, a proyect oriented to IoT Internet of Things.

But, do you know what technology support IOTA? oh is not Blockchain, is Tangle.

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The IOTA project proposes an ambitious goal: Generating a series of IoT applications and make it through the Tangle, the main innovation behind IOTA.

Tangel is defined by themselves (in their own Whitepaper) as a ledger distributed that is scalable, light and makes possible the transfer of value without anything in return ,unlike miners in blockchain.

In the system they posed also consensus is intrinsic (unlike the criptomonedas blockchains where consensus is part of the protocol but not the blockchain system).

The result is a decentralized peer-to-peer network and self-regulated that can be used to connect objects through the IoT.

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The beginning

IOTA originated in 2014, when the team behind the platform founded a startup that aimed to develop a microprocessor for the Internet of Things (IoT).

At that time, the team focused on the need to create a compensation layer to act as the building blocks of the "economy of things" where machines can exchange resources effectively and safely. That was how the concept would be based on what emerged IOTA.

It was then, when the team launched a round of collective funding aimed at IOTA software community in order to revive the economy and the ecosystem with activists and promoters.

So while the team conducting research and testing, in parallel was also devised a strategy (similar to that adopted by the ethereum project) to empower the user community IOTA and create an entity that would be responsible for promoting new innovation: IOTA Foundation, in which the members of the startup are involved.

Relesases in Stages

Now that IOTA has started its launch last July 11, the team has decided to organize it in stages. David Sønstebø explains himself:

The first stage has to do with the core of IOTA. It is the launch of the main IOTA network, which starts the protocol and transactions become possible, since the Tangle network is operational. IOTA is a continuous and perpetual project. You never will be finished. The idea is to keep making it grow.

David Sønstebø

Founder, IOTA

This first week following the launch, the developer team would be focusing mainly on "tie up loose ends" according Sønstebø. Also it is perfecting work with the community with chat IOTA installed on your community Slack and tutorial for using the network has been updated. Is scheduled for the week of Monday 18, IOTA finally comes to the markets of the exchange, which its primary function would definitely materialized.

A second phase focuses on expanding IOTA utilities and opening new areas of opportunity for all parties involved. "This step is in many respects more open to participation. freedom to which you want to build on the IOTA network, and there are companies that have expressed their intention to do so, "he said Sønstebø will be in it.

The third and final stage has to do with the hardware that inspired IOTA, known as the "Jinn Project". This is a microprocessor-based logic and supported on a ternary system blockchain. IOTA The idea is to resume the fundamentals of the project and thus include the ability to solve problems in the network.

TANGLE: AN UNCONVENTIONAL BLOCKCHAIN

The blockchain Iota is indeed a decentralized and distributed chain, but is not the same we know criptomonedas platforms like Bitcoin and ethereum. In fact, IOTA team is proud to have made several improvements to its blockchain with respect to traditional.

At first, the IOTA blockchain proposes a centralized control mechanics, where miners can not control the rewards. It also uses a quantum cryptography system resistant, it as a sort of preventive security mechanism.

Another feature that has Tangle is that the transaction fees are used to cover the costs of mining and mitigate spam attacks. In addition, the network has a threshold for the minimum amount of a payment, below which money transfers are made inopportune.

The IOTA network has no limits in its scalability and does not require advanced hardware because it does not use scripts whose processing logic is complex. It also allows unlimited growth data without increasing the balance information stored, resulting in greater efficiency.

Interestingly, Tanger can also complement the blockchain, raising levels of security for transactions and even engaging in intelligent contracts.