Move is the first virtual machine since the EVM to be adopted by a growing number of independent L1 projects.

What makes it so special and why is it destined to replace the EVM as the de-facto standard for smart contracts in the crypto-space?

Are you ready? Let's dig in!🧵 1. Move is the first VM that leverages "linear logic" (the logic of quantum information theory) to model a "virtual universe of digital assets" that is governed by conservation laws and that enforces that assets can never be duplicated or lost directly on the "language level".

So it's finally time for part 2 of the update, in which I will explain how the reactive package allows us to merge metadata and logic to eliminate the problems discussed in the previous thread by getting rid of our 'external propagation logic'. I will split the thread into several different segments to make it easier to associate the attached pictures with their respective text.

Since we plan to create blocks that act like 'interacting cells', we first need to create a mechanism that allows them to communicate.

@Plinz I personally think that modeling multiway systems as rewrite systems that operate on a global continuous vector of data is a bit non-intuitive (and also pretty inefficient in code as you have to essentially duplicate the entire vector for each branch that you spawn).

In the ... @Plinz ... context of Wolframs work, I even think that it leads to questionable conclusions like the proposal to explain the wave function collapse as a Knuth–Bendix completion of the multiway graph, which fails to explain things like Schrödingers Cat where different quantum states ...

I have lately received a number of messages, asking about the security of IOTA's new consensus mechanism in situations like network splits.

Since these questions seem to originate in factually wrong statements of a critic, I want to answer this question publicly.

(1/20)🧵👇 To understand how IOTA handles this type of situation, we first need to understand what a network split is.

It is a situation where the network is split into two (or more) disconnected partitions where each partition can only see their respective set of issued messages.

(2/20)

@durerus @Conste11ation @Vrom14286662 Yes, I read their whitepaper but sadly it doesn't really contain a lot of information.

Apart from a lot of references to other papers, it contains only very hand wavy statements. I don't think they name a single concrete algorithm in the entire document.

The graphics they ... @durerus @Conste11ation @Vrom14286662 ... show in their document are not results of their own work / simulations but are copied from this students master thesis: repository.tudelft.nl/islandora/obje…, which ends with the words:

I think it's time for a short update around our progress on coordicide:

A few weeks ago we merged the refactored consensus code base and we have been running it in an internal testnet since then.

After fixing a lot of bugs, the node looks increasingly stable (we also found ... ... the memory leak that we were fighting with for almost 2 weeks - people who closely follow the development process on github will know what I mean).

The only remaining thing for the prototype to be feature complete in a first MVP version (apart from getting rid of ...

@DesheShai I would argue that the 50% attack resilience you mentioned is not the result of PoW but the result of how Satoshis voting mechanism does not operate in rounds where you have to "prematurely" finalize decisions. This allows actors to continuously adjust their opinion and ... @DesheShai ... ultimately converge to all add weight to the same winning outcome.

If you operate in rounds (like all contemporary BFT style consensus mechanisms) and declare a decision to be final once you have reached 67% of the weight (to move on to the next round), then an attacker ...

@DesheShai Btw. what we discussed is actually just going to be the pre-consensus of the entire protocol.

We decided to use PoS as a pre-consensus as it is more efficient and secure than PoW when it comes to producing agreements (you can slash attackers and so on) but the entire reason ... @DesheShai ... why we want to enable users to issue their own blocks is because we actually want to tap into a completely new form of sybil protection for settlement that we call "social consensus" or "subjective asymmetric trust" (name tbd.) and that we believe to be superior to PoW ...

@DesheShai What you are describing is the old IOTA consensus which was found to be broken several years ago.

Solving the problems turned out to be much harder than we anticipated and required us to go through several iterations of ideas.

We only recently solved the last open research ... @DesheShai ... questions and are currently working on getting the code base ready for mainnet.

If you want to get up to speed with what we are building, I suggest you have a look at the following whitepaper: arxiv.org/pdf/2205.02177…

People who are not that math savvy and prefer an ...

After having been gone for almost 3 weeks I am finally back and I think its time for a short update as a lot of things happened in the last weeks:

1. We had a strategy summit in Berlin where we settled all remaining open discussions around things like tokenomics, and our vision. I was asked to not share any details as we are planning to communicate this updated and extended vision in a "proper way" in the coming months, but I have to say that I am extremely happy with the outcome of these discussions and I couldn't have hoped for a better result (it ...

@TheDLTimes @Tek_la_iota @navinram999 @DomSchiener Aptos and Sui ... when two fight, the third rejoices!

There will be an intense discussion over details in the design between both projects and interestingly our arguments and our details will beat both of them quite easily. @TheDLTimes @Tek_la_iota @navinram999 @DomSchiener IOTA is not in a race against time (we lost that race long ago) - its in a race against perfection.

If anything this can be seen as a huge verification of our work and tell us that we are not only in line but even slightly ahead of the best researchers money can buy when it ...

@Tek_la_iota @navinram999 @DomSchiener Yes, they are on our radar (you can search for SUI in my tweets) and they do indeed share a very large overlap with our design (separation of physical and logical dag, causally ordered state transitions and so on).

It's accordingly pretty solid research that is behind these ... @Tek_la_iota @navinram999 @DomSchiener ... projects and their features will be close to what IOTA is building.

We are even considering to use their L1 SC VM (Move) as it is already optimized for the causally ordered paradigm.

IOTA will however outcompete these projects when it comes to decentralization and ...

Since there has been a lot of discussions and confusion around my latest series of tweets (

https://twitter.com/hus_qy/status/1557499464662896640

) I feel like there are a few things that I need to clarify:

1. I feel committed to the community and the project and I will definitely not leave people hanging ... ... and pull a CfB before we are done.
2. I will accordingly not leave the IF, even if being done means implementing fees (but I would most probably leave directly after coordicide in that case and try to work on this different vision).
3. We are all still friends in the IF ...

Oh, btw. we found the bug that causes the network to break.

It was a completely unnecessary bug that was caused by us trying to "micro optimize" the data for a later component already in the earlier component, which by the time we discussed it was agreed as being a bit ugly ... ... but maybe anyway worth the 0.5% extra performance as it "couldn't do any harm".

Well as it turned out to be the case, there was 1 edge case in the algorithms that we didn't think of where it actually did harm. So we removed our "smart optimization" and now it works 😅

@jrcdev @brixjorgn @dergigi I don't care about wasted energy - we are wasting energy on a lot of other things and it really lies in the eye of the beholder if a decentralized money is "worth" the energy it consumes or not.

My concerns regarding PoW are more technical as it is too inefficient, too ... @jrcdev @brixjorgn @dergigi ... unsustainable (depends on block rewards or exorbitant fees), too centralizing (geographically + around the mining entities) and too insecure (it can only withstand 50% attacks).

Our approach achieves everything that PoW achieves:

- objectivity: commitments from the real ...

Sorry for the delayed report but I had to leave at 3 o clock on Saturday morning and the airplane company lost my suite case and only delivered it today - so here is the summary of our work on Friday:

Since it was our last day together, we decided to focus on debugging some ... ... long standing issues that we have so far always ignored and that currently cause the network to break: github.com/iotaledger/gos…

While working on this problem, we also realized that our recently introduced changes to our models had some unexpected data races, which we ...

@TobbyKitty @orange_pars I am not sure I understand your concerns regarding the communication complexity.

If you have 4 shards and you have to process at least 3 then you have to process a minimum of 3/4 of the total throughput.

If you have 6 shards and you have to process at least 3 then you have ... @TobbyKitty @orange_pars ... to process 1/2 of the total throughput and so on.

You can scale down this processing requirement to an arbitrary small number by increasing the amount of shards and this number (an nth of the total throughput is actually what defines your perceived shard/workload).

@lukastanisic99 @archimate @fudsfuddy @INATBA_org @Europarl_EN @EU_Commission The point is that it is not possible to sandwich a user because in such an "interactive" execution model you have no guarantee that the user would sign a corresponding 2nd transaction that you could try to front-run (e.g. in AMMs).

If you think about arbitrage trades that ... @lukastanisic99 @archimate @fudsfuddy @INATBA_org @Europarl_EN @EU_Commission ... directly yield a profit, then yes you are right. A validator could at least in theory issue a 2nd transaction that does the same thing and try to make the consensus favor his 2nd spend (assuming he has enough influence).

Instead, he could also just run a node-plugin that ...

@archimate @fudsfuddy @INATBA_org @Europarl_EN @EU_Commission Yes you are correct.

The single-threaded execution of a totally ordered VM is what limits the computational scalability of contemporary DLTs.

Btw, when I am talking about causally ordered Smart Contracts then I am talking about the upcoming VM support on L1 in goshimmer. @archimate @fudsfuddy @INATBA_org @Europarl_EN @EU_Commission Most smart contract enabled DLTs use a "globally shared state" which is modeled as a single blob.

Each transaction modifies this state and it is not possible to parallelize the execution of transactions since earlier transactions can modify the state read by later ones (and ...

@Jogenfors Thanks for the response and thanks for reminding me of IOTA's troubled past ...😅

We are trying to learn from our mistakes and we are very close to being done, now.

The biggest problem for IOTA was that it didn't just need a new voting mechanism (the tangle) but it also ... @Jogenfors ... needed a new form of ledger (the quadruple entry accounting) which is precisely the component that I am talking about.

Here is a blog post about how it works: husqy.medium.com/the-trust-mach…

I also address some of the similarities to quantum mechanics and references to Stephen ...

@Jogenfors Interesting read, thx for sharing!

I do have a question - feel free to answer or just ignore it :P

Let me introduce myself: I am Hans Moog and I am a developer for the IOTA cryptocurrency.

As you might already know, IOTA is working on a new approach for DLTs that is based ... @Jogenfors ... on causally ordering events instead of totally ordering them.

Whenever there is a conflict, we simply create two (or more) versions of the ledger state that coexist for some time (until consensus is reached) and then the loosing realitird str discarded.

We call this ...