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it enables fee-less transactions between the owners of the data and anyone who wants to buy it—and there are plenty of companies that want to get their hands on data.
IOTA uses a “tangle,” which is based on a mathematical concept called a directed acyclic graph.
Orcutt’s claim that IOTA is free of fees is misleading. IOTA users do the proof of work on their own devices, per transaction.
the work required is a fee. Restricting the ways in which the fee can be paid—requiring that the work be done on a user’s own device—doesn’t make it go away.
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“In August, researchers from MIT and Boston University reported that they discovered a “serious vulnerability” in a novel cryptographic technique IOTA was using.
“The rally began in late November, after the IOTA Foundation, the German nonprofit behind the novel cryptocurrency, announced that it was teaming up with several major technology firms to develop a ‘decentralized data marketplace.’” The article goes on to say: “And the high-profile names particip...
building @tellimer. #engineering, #machinelearning and #crypto
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Similar to Proof-of-work, Proof-of-Stake is a consensus mechanism which underpins security of the blockchain by preventing doubles...
The Lightning Network is an off-chain, layered payment protocol that operates bidirectional payment channels which allows instantaneous transfer with instant reconciliation. It enables private, high volume and trustless transactions between any two parties.
At one time, it took 12 clicks to buy something on EBay. In 1997, Amazon introduced 1-Click transactions. They managed to reduce a lot of transaction friction and people gravitated to the site.
How a platform enables smoother and faster transactions is one of the most fundamental ways it ...
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