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IOTA: the Internet of thingsIOTA.org
To understand what distinguishes a project from all the others in the DLT space, we must always start from what motivated the creators to realize such a project. In the case of the IOTA it was the awareness that some problems will prevent the blockchain from satisfying many of the existing cases of use (and in part still do) only in theory. The IOTA is undoubtedly one of the main pioneering projects that took the concept of DLT and implemented it with a different underlying data structure to solve many of the problems with Blockchain: costs, downsizing and centralization determined by the need for validators or miners.
The result is a network that can easily handle huge amounts of data, which the creators hope will act as catalysts for a true machine-to-machine economy, something that goes hand in hand with the emerging technological advances that we are seeing in Artificial L & # 39 intelligence and the Internet of things.
David Stonstebo is the co-founder and co-chair of the IOTA Foundation; a new type of foundation, with the goal of developing the next generation of protocols for the connected world. Here, we ask David to explain the trip so far …
How did IOTA start?
"Sergei Ivancheglo, Dominik Schiener, Sergei Popov and I were working on Annex II, the first trial of the stake project.We all had been in blockchain since 2011. We realized working on this, that blockchain simply can not scale and is really disqualified from many of the use cases to which it is touted as a solution.The reason for this is very basic and very simple ".
David explains that one of the aspects is transaction fees, which automatically disqualify him as any type of payment network. The other is the limitation of scalability, which once again disqualifies as a payment network, but perhaps even more importantly, also disqualification from the level of data transmission. The third thing, even if indirectly, is centralization against decentralization.
"We knew all these problems in blockchain only from a purely theoretical understanding of the blockchain.But, in reality, Sergey Ivancheglo and I started thinking about how distributed registers promised immutability, when applied to the Internet of things, they made huge amounts of machine-machine data and interactions that must be guaranteed At the end of 2014, we already had a very, very early Tangle project and then in 2015 we started to perfect it, optimizing it and announcing to the world ".
How does IOTA Tangle solve some of the problems inherent in Blockchain regarding PoW and IoT?
"The way you solve all three levels is actually quite simple and elegant, so if you think about blockchain, you have these fixed blocks, you can just put a certain amount of block transactions and you can only check one block at a time. So, it is this business that is distributed on a single sequential dimension, which obviously means that if many people want to transact or send data over the network, they have to make an offer for the priority to be in the next block. taxes, your taxes are like offers, and this is also the point where the limitation of scalability becomes obvious ".
David explains that the blocks themselves are bottlenecks in the network (it should probably be called a bottle chain or something). The way this is solved is that instead of having these two parts turn users into validators, we make users and validators one and the same. Thus, when the transaction is issued, two transactions are also validated on a network, which has once again validated its two transactions and so on, and so on, and so on. In this simple solution, solve all these problems already because number one, there is no more scalability limit, because more people issue transactions, more transactions are validated in the network.
It becomes more efficient, there are no bottlenecks, so that it orders scalability and also solves the problem of tariffs with the same mechanism because there is no offer by priority. There is simply no reason to have commissions on a network, simply there is none. The third thing that indirectly solves is decentralization. Once again the same reason in the blockchain, it is always this economic incentive due to the structure of gathering resources in these mining pools in order to be able to collect as many commissions as possible and block premiums as much as possible. But in the IOTA system, there are no taxes, there is no incentive to centralize resources. It also becomes much more decentralized as a result of this architecture.
How does this coordinator really work and what is the plan that is now going on with technology?
"The coordinator is a very simple bootstrap mechanism – in very simple terms, it's just like the bicycle training wheels – think of any distributor network like a kid – that guy could, in theory, put it on the bike and push it down a hill, the result would be very negative, so instead, put them on training wheels, you have these tools that can learn to correctly balance and coordinate your legs and arms correctly.The coordinator has the exact same purpose. Temporary mechanism that issues these milestones As a network user, you are completely free to ignore these milestones, just as you are free to ignore the training wheels as a child I would not recommend it, but you can. "
David explains that the network itself is completely decentralized, but network users have this option to listen to the coordinator to know that their transactions are as secure as possible. Obviously, this mechanism, just like the training wheels, is bound to detach itself. But to get it out, the network itself must grow to reach a certain size or a certain level of self-sustainability. This was the plan since the beginning. There are several ways to do this and the iota team is working hard with the researchers to figure out the best way to do it, so when there is this Coordicide (the death of the Coordinator), you know it's the most efficient or the most optimized network solution that comes with it.
Which sectors do you think would benefit most from this technology and can you give some examples of the IOTA Tangle technology currently being studied in these areas?
"I would literally say that every sector that deals with settlements or transactional data can use and benefit from the tangle.If we start with transactional agreements, of course, IOTA is the first time in history where we actually had digital payments without commissions , which is quite revolutionary in and of itself .. Since internet payments have been introduced, we have just taken tariffs for granted ".
With IOTA, when you no longer have these taxes, you can create an entirely new economy where you pay the exact amount you use, rather than paying in advance or after the factor based on some statistical projections of how much you use it. This creates for the first time in history, the economy in real time.
When entering data in the ledger, it has data integrity, which means it can no longer be changed. It can never be tampered with. This is immensely powerful and important in an era where data is literally the basis of where we take all our decisions and autonomous vehicles make all the decisions, each type of autonomous device makes all their decisions based on data.
Ensuring this data for free and effortlessly is, of course, something that virtually attracts every sector on the face of the earth. Here we discuss some concrete examples from mobility
IOTA on the move
The future of mobility is, of course, that cars become their own self-employed agents where they can not only drive themselves, but can also make payments or conduct maintenance themselves. So, if a self-contained vehicle needs to load, it can simply pay in these Vulcan flows and receive it literally in real time to pay the exact amount they are charging. There are no risks for any car that you drive without paying or something. Another very interesting use case in Mobility is called platooning.
The nice thing is that in a platoon in practice you only use a concept called drafting from the aerodynamics. So first, like the platoon, let's say five trucks or five vehicles, one in a row and the first car breaks the wind barrier and this creates this aerodynamic flow that makes it much easier for the other vehicles behind to drive, because there it is less friction or resistance to air. This, of course, means that those machines behind the first one have a reduced energy expenditure. The thing is, if you look at this, let's say you have cars lined up like A, B, C, D, and you'd think that, just like the comments, it's probably the same word on vehicles, but the fact is that it's actually very , very different from a four for the different vehicles in which they are positioned in the platoon.
The question becomes "why should I ask for the first truck? Why should I receive a five percent energy benefit if my competitor behind me gets 15 or 20 percent earnings?" This can be leveraged or the benefit can be distributed using these payments in real time. So vehicle B and vehicle C can take B and A, and so on and so on. So you can constantly have this complete democratization of this energetic game. And this is a fairly noble idea in and of itself.
Depending on the type of model in which these different vehicles are located, they have different biodynamic properties. Naturally, it is necessary to define these different biodynamic properties and then create a sort of identity system for the vehicles themselves so that we can calculate these payments. Therefore, in fact, the data must be verified. He needs to have this immutable property because otherwise I could tamper with this and claim that I am a huge semi-truck when I can drive a small Scooter or something. Therefore, it is incredibly important to have data integrity and that requires virtually every single thing when it comes to mobility.
If there's an accident, for example, you could have every incentive in the world to tamper with the data in the black box of vehicles, to make it look like you did not do anything wrong or that the vehicle of the same name did not do anything wrong, but if you insure the data in real time on the distributed register, there is no way for anyone to do it.
IOTA in the supply chain
The supply chain has a lot of data. There is virtually no end to the amount of data that goes into a supply chain. By protecting those data and making them distributed so that everyone can verify it, everyone can take them, which will play a huge role.
Currently, supply chains have more than 4 trillion dollars a year in wasted goods and counterfeit goods. So you can probably add a couple of trillions more and then all the time that's lost when a document is fake because it's still used out there in paper documents. All these things need a solution.
The reason they did not go much further with the digital era is that it is so easy to tamper with these centralized databases and everyone has an incentive to do so. The insurance company has an incentive to do it. The shipping line has an incentive to do so, shippers, etc., The list goes on. But if you had this single source of truth, this immutable truth that is decentralized and distributed among all the participants, that problem disappears. You can make it even more finely granular, when you invoke the Internet of things, the sensors in containers to monitor temperature, humidity, and so on. To make sure that if the goods are delivered in a bad state, you can see exactly where the chain of custody has gone wrong. This is the point where, of course, data integrity comes into play and you solve this problem with a distributed ledger.
Another example is an independent group, called bIOTAsphere. They are developing solutions based on the IOTA network or the IOTA tangle and the surrounding ecosystem. So, here we have real-time insurance, so when you drive your vehicles, you literally pay for these tiny, miniscule and miniscule transactions that you can call in real time to the insurance company based on how you drive.
Instead of using these probabilistic models, on which insurance is based today, where do you take into account your gender, your age, your driving history, and what kind of vehicle it is. Instead, pay exactly as you drive. If you drive too fast, your insurance may go up when insurance is interrupted. Your car can change insurance providers in real time to get the most favorable scenario to adapt to the current situation. This is something that is starting to attract a lot of interest from the large mobility conglomerates and their financial services groups. So it's also very exciting. Only a demonstration of both data and transactional tokens.
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IOTA: the Internet of thingsIOTA.org
To understand what distinguishes a project from all the others in the DLT space, we must always start from what motivated the creators to realize such a project. In the case of the IOTA it was the awareness that some problems will prevent the blockchain from satisfying many of the existing cases of use (and in part still do) only in theory. The IOTA is undoubtedly one of the main pioneering projects that took the concept of DLT and implemented it with a different underlying data structure to solve many of the problems with Blockchain: costs, downsizing and centralization determined by the need for validators or miners.
The result is a network that can easily handle huge amounts of data, which the creators hope will act as catalysts for a true machine-to-machine economy, something that goes hand in hand with the emerging technological advances that we are seeing in Artificial L & # 39 intelligence and the Internet of things.
David Stonstebo is the co-founder and co-chair of the IOTA Foundation; a new type of foundation, with the goal of developing the next generation of protocols for the connected world. Here, we ask David to explain the trip so far …
How did IOTA start?
"Sergey Ivancheglo, Dominik Schiener, Sergei Popov and I were working on Annex II, the first trial of the stake project.We were all in blockchain since 2011. We realized working on this, that blockchain simply can not scale and it is really disqualified from many of the cases of use for which a solution has been proposed.The reason for this is very basic and very simple ".
David explains that one of the aspects is transaction fees, which automatically disqualify him as any type of payment network. The other is the limitation of scalability, which once again disqualifies as a payment network, but perhaps even more importantly, also disqualification from the level of data transmission. The third thing, even if indirectly, is centralization against decentralization.
"We knew all these problems in blockchain only from a purely theoretical understanding of the blockchain, but it was precisely when Sergey Ivancheglo and I started thinking about how the books distributed to promise immutability when applied to the Internet of things, they made huge quantities at the end of 2014, we already had a very, very early Tangle draft and then in 2015 we started to perfect it, optimizing it and announcing it to the world ".
How does IOTA Tangle solve some of the problems inherent in Blockchain regarding PoW and IoT?
"The way you solve all three levels is actually quite simple and elegant, so if you think about the blockchain, you have these fixed blocks, you can only put a certain amount of transactions in blocks and you can only check a block to is a real one-dimensional sequential enterprise that, of course, means that if many people want to transact or send data over the network, they have to ask that priority be in the next block, when taxes arrive, your taxes are like bids, and this is also the point where the limitation of scalability becomes obvious ".
David explains that the blocks themselves are bottlenecks in the network (it should probably be called a bottle chain or something). The way this is solved is that instead of having these two parts turn users into validators, we make users and validators one and the same. Thus, when the transaction is issued, two transactions are also validated on a network, which has once again validated its two transactions and so on, and so on, and so on. In this simple solution, solve all these problems already because number one, there is no more scalability limit, because more people issue transactions, more transactions are validated in the network.
It becomes more efficient, there are no bottlenecks, so that it orders scalability and also solves the problem of tariffs with the same mechanism because there is no offer by priority. There is simply no reason to have commissions on a network, simply there is none. The third thing that indirectly solves is decentralization. Once again the same reason in the blockchain, it is always this economic incentive due to the structure of gathering resources in these mining pools in order to be able to collect as many commissions as possible and block premiums as much as possible. But in the IOTA system, there are no taxes, there is no incentive to centralize resources. It also becomes much more decentralized as a result of this architecture.
How does this coordinator really work and what is the plan that is now going on with technology?
"The coordinator is a very simple bootstrap mechanism – in very simple terms, it's just like the bicycle training wheels – think of any distributor network like a kid – that guy could, in theory, put it on the bike and push it down a hill, the result would be very negative, so instead, put them on training wheels, you have these tools that can learn to correctly balance and coordinate your legs and arms correctly.The coordinator has the exact same purpose. Temporary mechanism that issues these milestones As a network user, you are completely free to ignore these milestones, just as you are free to ignore the training wheels as a child I would not recommend it, but you can. "
David explains that the network itself is completely decentralized, but network users have this option to listen to the coordinator to know that their transactions are as secure as possible. Obviously, this mechanism, just like the training wheels, is bound to detach itself. But to get it out, the network itself must grow to reach a certain size or a certain level of self-sustainability. This was the plan since the beginning. There are several ways to do this and the iota team is working hard with the researchers to figure out the best way to do it, so when there is this Coordicide (the death of the Coordinator), you know it's the most efficient or the most optimized network solution that comes with it.
Which sectors do you think would benefit most from this technology and can you give some examples of the IOTA Tangle technology currently being studied in these areas?
"I would literally say that every sector that deals with settlements or transactional data can use and benefit from the tangle.If we start with transactional agreements, of course, IOTA is the first time in history where we actually had digital payments without commissions , which is quite revolutionary in and of itself .. Since internet payments have been introduced, we have just taken tariffs for granted ".
With IOTA, when you no longer have these taxes, you can create an entirely new economy where you pay the exact amount you use, rather than paying in advance or after the factor based on some statistical projections of how much you use it. This creates for the first time in history, the economy in real time.
When entering data in the ledger, it has data integrity, which means it can no longer be changed. It can never be tampered with. This is immensely powerful and important in an era where data is literally the basis of where we take all our decisions and autonomous vehicles make all the decisions, each type of autonomous device makes all their decisions based on data.
Ensuring this data for free and effortlessly is, of course, something that virtually attracts every sector on the face of the earth. Here we discuss some concrete examples from mobility
IOTA on the move
The future of mobility is, of course, that cars become their own self-employed agents where they can not only drive themselves, but can also make payments or conduct maintenance themselves. So, if a self-contained vehicle needs to load, it can simply pay in these Vulcan flows and receive it literally in real time to pay the exact amount they are charging. There are no risks for any car that you drive without paying or something. Another very interesting use case in Mobility is called platooning.
The nice thing is that in a platoon in practice you only use a concept called drafting from the aerodynamics. So first, like the platoon, let's say five trucks or five vehicles, one in a row and the first car breaks the wind barrier and this creates this aerodynamic flow that makes it much easier for the other vehicles behind to drive, because there it is less friction or resistance to air. This, of course, means that those machines behind the first one have a reduced energy expenditure. The thing is, if you look at this, let's say you have cars lined up like A, B, C, D, and you'd think that, just like the comments, it's probably the same word on vehicles, but the fact is that it's actually very , very different from a four for the different vehicles in which they are positioned in the platoon.
The question becomes "why should I ask for the first truck? Why should I receive a five percent energy benefit if my competitor behind me gets 15 or 20 percent earnings?" This can be leveraged or the benefit can be distributed using these payments in real time. So vehicle B and vehicle C can take B and A, and so on and so on. So you can constantly have this complete democratization of this energetic game. And this is a fairly noble idea in and of itself.
Depending on the type of model in which these different vehicles are located, they have different biodynamic properties. Naturally, it is necessary to define these different biodynamic properties and then create a sort of identity system for the vehicles themselves so that we can calculate these payments. Therefore, in fact, the data must be verified. He needs to have this immutable property because otherwise I could tamper with this and claim that I am a huge semi-truck when I can drive a small Scooter or something. Therefore, it is incredibly important to have data integrity and that requires virtually every single thing when it comes to mobility.
If there's an accident, for example, you could have every incentive in the world to tamper with the data in the black box of vehicles, to make it look like you did not do anything wrong or that the vehicle of the same name did not do anything wrong, but if you insure the data in real time on the distributed register, there is no way for anyone to do it.
IOTA in the supply chain
The supply chain has a lot of data. There is virtually no end to the amount of data that goes into a supply chain. By protecting those data and making them distributed so that everyone can verify it, everyone can take them, which will play a huge role.
Currently, supply chains have more than 4 trillion dollars a year in wasted goods and counterfeit goods. So you can probably add a couple of trillions more and then all the time that's lost when a document is fake because it's still used out there in paper documents. All these things need a solution.
The reason they did not go much further with the digital era is that it is so easy to tamper with these centralized databases and everyone has an incentive to do so. The insurance company has an incentive to do it. The shipping line has an incentive to do so, shippers, etc., The list goes on. But if you had this single source of truth, this immutable truth that is decentralized and distributed among all the participants, that problem disappears. You can make it even more finely granular, when you invoke the Internet of things, the sensors in containers to monitor temperature, humidity, and so on. To make sure that if the goods are delivered in a bad state, you can see exactly where the chain of custody has gone wrong. This is the point where, of course, data integrity comes into play and you solve this problem with a distributed ledger.
Another example is an independent group, called bIOTAsphere. They are developing solutions based on the IOTA network or the IOTA tangle and the surrounding ecosystem. So, here we have real-time insurance, so when you drive your vehicles, you literally pay for these tiny, miniscule and miniscule transactions that you can call in real time to the insurance company based on how you drive.
Instead of using these probabilistic models, on which insurance is based today, where do you take into account your gender, your age, your driving history, and what kind of vehicle it is. Instead, pay exactly as you drive. If you drive too fast, your insurance may go up when insurance is interrupted. Your car can change insurance providers in real time to get the most favorable scenario to adapt to the current situation. This is something that is starting to attract a lot of interest from the large mobility conglomerates and their financial services groups. So it's also very exciting. Only a demonstration of both data and transactional tokens.
