IOTA the new crypto?

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rafkg29
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Joined: Tue Oct 09, 2018 1:07 pm

IOTA the new crypto?

Post by rafkg29 » Tue Jan 15, 2019 5:20 pm

What is IOTA?

csmath
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Joined: Sat Oct 13, 2018 11:32 am

Re: IOTA the new crypto?

Post by csmath » Tue Jan 15, 2019 5:34 pm

rafkg29 wrote:
Tue Jan 15, 2019 5:20 pm
What is IOTA?
I don’t know one iota about it :beer

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arcticpineapplecorp.
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Re: IOTA the new crypto?

Post by arcticpineapplecorp. » Tue Jan 15, 2019 5:48 pm

rafkg29 wrote:
Tue Jan 15, 2019 5:20 pm
What is IOTA?
what is google?
What is a search bar?

from https://www.iota.org/

what is IOTA? A token for the ‘Internet of Things’
By solving the inefficiencies of the Blockchain, IOTA, based on the revolutionary distributed ledger technology, the Tangle, is the missing link for the Internet of Everything and Web 3.0. Powering a secure, scalable and feeless transaction settlement layer, IOTA will empower machines and humans to participate in flourishing new permissionless economies - the most important one being the Machine Economy which we are building.
In order to participate in this network, a participant simply needs to perform a small amount of computational work that verifies two previous transactions. Rather than creating a hierarchy of roles and responsibilities in the network, every actor has the same incentives and rewards. In order to make a transaction in the Tangle, two previous transactions must be validated with the reward for doing so being the validation of your own transaction by some subsequent transaction. With this 'pay-it-forward' system of validations, there is no need to offer financial rewards. Transacting with IOTA is and will always be completely fee-free.

Moreover, without the need for monetary rewards, IOTA is not limited to transactional value settlements. It is possible to securely store information within Tangle transactions, or even spread larger amounts of information across multiple bundled or linked transactions.

This structure also enables high scalability of transactions. The more activity in ‘the Tangle’, the faster transactions can be confirmed.
"May you live as long as you want and never want as long as you live" -- Irish Blessing | "Invest we must" -- Jack Bogle

barnaclebob
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Joined: Thu Aug 09, 2012 10:54 am

Re: IOTA the new crypto?

Post by barnaclebob » Tue Jan 15, 2019 5:52 pm

Thats the amount of money you'll have left over after investing in cryptos.

brad.clarkston
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Location: Kansas City, MO

Re: IOTA the new crypto?

Post by brad.clarkston » Tue Jan 15, 2019 5:57 pm

It's a competing blockchain that does not want to be called a blockchain.

It's single upside is there's no mining.
It's downside is there's no point to it.

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David Jay
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Re: IOTA the new crypto?

Post by David Jay » Tue Jan 15, 2019 6:04 pm

brad.clarkston wrote:
Tue Jan 15, 2019 5:57 pm
It's a competing blockchain that does not want to be called a blockchain.

It's single upside is there's no mining.
It's downside is there's no point to it.
George Gilder argues that blockchain is the future of secure transactions.

Vanguard is evaluating blockchain for secure financial data transfer, link: viewtopic.php?t=234444
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

brad.clarkston
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Location: Kansas City, MO

Re: IOTA the new crypto?

Post by brad.clarkston » Tue Jan 15, 2019 6:07 pm

David Jay wrote:
Tue Jan 15, 2019 6:04 pm
brad.clarkston wrote:
Tue Jan 15, 2019 5:57 pm
It's a competing blockchain that does not want to be called a blockchain.

It's single upside is there's no mining.
It's downside is there's no point to it.
George Gilder argues that blockchain is the future of secure transactions.

Vanguard is evaluating blockchain for secure financial data transfer, link: viewtopic.php?t=234444
Sure it's all possible in 20 years. Name me one that actually works as well as the system it took over right this moment tho ?

youngpleb
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Location: VA, USA

Re: IOTA the new crypto?

Post by youngpleb » Tue Jan 15, 2019 8:02 pm

IOTA's "Tangle" solution for data integrity is pretty interesting, but other than that it's just another crypto. It's at least a year and a half old, so not exactly new like you said. Unless you mean it's the next one that's going to take off, in which case your guess is as good as mine lol.

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Spinola
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Re: IOTA the new crypto?

Post by Spinola » Tue Jan 15, 2019 8:15 pm

Blockchain or some technology derived from it may have a future, but the never ending stream of crypto-currency-of-the-day :dollar do not have a future..

edgeagg
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Location: WA-US

Re: IOTA the new crypto?

Post by edgeagg » Tue Jan 15, 2019 9:39 pm

I work in this area. I'm still confused by the actual business case here. All these byzantine fault tolerance (BFT) algos are fun but I've yet to see a compelling business scenario here. Here is (partly) why: All of these algos equate the digital good with the physical good, this is fine for some class of goods but definitely not for all. For the class of goods where the digital good = physical good, there are often reasons why people don't want the transaction to be public, which further reduces the set. Unfortunately the set of remaining goods (today) isn't compelling enough for very wide business purposes. However BFT are used in engineering practical high-reliability systems like aerospace. Hardly enough to hang an investment strategy on IMO.

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