Did you know that IOTA is the only DLT in the whole crypto space that is not based on establishing a total order of events?
It is using a completely new form of ledger state that uses similar principles as what @stephen_wolfram postulates to be the underlying laws of physics ...
It is using a completely new form of ledger state that uses similar principles as what @stephen_wolfram postulates to be the underlying laws of physics ...
... that govern the universe - a multiway evolution graph that tracks all possible versions of the ledger state at the same time.
One of the biggest innovations of Satoshi Nakamoto was the "tripple entry accounting system". IOTA extends this "tripple entry accounting system" ...
One of the biggest innovations of Satoshi Nakamoto was the "tripple entry accounting system". IOTA extends this "tripple entry accounting system" ...
... by another dimension which maps the outputs to a DAG of conflicting branches (a hypergraph) that allow us to efficiently identify spends of conflicting and therefore causally invalid versions of the ledger state.
This allows us to get rid of the total order requirement ...
This allows us to get rid of the total order requirement ...
... of DLT's and reduce the block size to 1 and once you go from small blocks to blocks of the size of 1, something magical happens.
It's like going from newtonian physics to quantum physics.
A global perception of time disappears, the problem that you can not send ...
It's like going from newtonian physics to quantum physics.
A global perception of time disappears, the problem that you can not send ...
... confirmations as fast as possible disappears (the whole block size debate), miner extractable value (MEV) disappears and the need for an absolute consensus on the weight of the gosipped messages disappears.
The last point is most probably the most important one because ...
The last point is most probably the most important one because ...
... it will be this fact that will allows us to integrate things like "real world trust" directly into the base layer.
In fact, the whole DLT revolution started with going from "We need absolute consensus on the identities of the validators." to "We need absolute consensus ...
In fact, the whole DLT revolution started with going from "We need absolute consensus on the identities of the validators." to "We need absolute consensus ...
on the weight of the gossiped messages (blocks)."
IOTA now increases this level of freedom another time to "We need apprixomate consensus on the weight of the gossipped messages."
It is a really small change but it has huge implications.
I believe that there is just a ...
IOTA now increases this level of freedom another time to "We need apprixomate consensus on the weight of the gossipped messages."
It is a really small change but it has huge implications.
I believe that there is just a ...
... single sweet spot in the whole crypto space that allows this additional level of freedom and I believe that there will ultimately not be a single design decision in the whole IOTA protocol that will in any way be questionable.
The goal of IOTA is to create the digital ...
The goal of IOTA is to create the digital ...
... trust layer for generations to come and while I know that this is a big goal, I am very confident that we are very very close to reach that goal of creating the best DLT humans could possibly ever build.
I am so fucking excited for the next weeks and months as we are ...
I am so fucking excited for the next weeks and months as we are ...
... finally going to be able to discuss possible optimizations and put all of the pieces together!
Btw.: We should strive to establish standardized test for different protocols that test different scenarios and how the different DLT's perform (message overhead, time to ...
Btw.: We should strive to establish standardized test for different protocols that test different scenarios and how the different DLT's perform (message overhead, time to ...
... finality, robustness against DDOS attacks an so on ...)
Humanity should be able to make an informed decision when deciding for the base layer technology that is supposed to power its decentralized future.
Humanity should be able to make an informed decision when deciding for the base layer technology that is supposed to power its decentralized future.
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