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=== Units ===
=== Units ===
Iota is the [[unit of account]] on the IOTA network. Common [[ticker symbol|ticker symbols]] representing iota are MIOTA and IOTA.[r] Iota is sold as 'Miota' on most cryptocurrency exchanges.[r] A miota (an abbreviation for megaiota) is 1,000,000 iota, with a single iota being the smallest amount that can be used for transferring value on the IOTA network.[r] The price listed for IOTA on popular cryptocurrency indices display the market value for miota, not the market value for a single iota.[r] If 1 miota is listed on an exchange at $1USD, then 1 iota is worth 0.000001c.
Iota is the [[unit of account]] on the IOTA network. Common [[ticker symbol|ticker symbols]] representing iota are MIOTA and IOTA.<ref name=":5">{{Cite web|url=https://info.binance.com/en/currencies/miota|title=IOTA - Binance Info|last=|first=|date=|website=Binance|archive-url=|archive-date=|dead-url=|access-date=26 June 2019}}</ref> Iota is sold as 'Miota' on most cryptocurrency exchanges.<ref name=":5" />
=== Supply ===
⚫
There are 2,779,530,283,277,761 (or <math>\frac{3^{33} - 1}{2}</math>) Iota available in the IOTA network.<ref>{{Cite web|url=https://github.com/iotaledger/iri/blob/0889a91bce83717fd916b2fbeba0f6555f7fa155/src/main/java/com/iota/iri/controllers/TransactionViewModel.java#L27|title=IOTA Reference Implementation|last=|first=|date=|website=GitHub|language=en|archive-url=|archive-date=|dead-url=|access-date=2019-05-07}}</ref> In a [[ternary numeral system]] this number is represented exactly as 111111111111111111111111111111111. Amounts of iota can be represented in other units based on [[SI Unit Prefixes|SI unit prefixes]], such as "kiloiota" for 1,000 iota.<sup>[Needs source other than reddit.com]</sup>


⚫
There are 2,779,530,283,277,761 (or <math>\frac{3^{33} - 1}{2}</math>) Iota available in the IOTA network.<ref>{{Cite web|url=https://github.com/iotaledger/iri/blob/0889a91bce83717fd916b2fbeba0f6555f7fa155/src/main/java/com/iota/iri/controllers/TransactionViewModel.java#L27|title=IOTA Reference Implementation|last=|first=|date=|website=GitHub|language=en|archive-url=|archive-date=|dead-url=|access-date=2019-05-07}}</ref> <ref>{{Cite web|url=https://coinmarketcap.com/currencies/iota/|title=IOTA - CoinMarketCap|last=|first=|date=|website=CoinMarketCap|archive-url=|archive-date=|dead-url=|access-date=26 June 2019}}</ref>
{| class="wikitable"
| colspan="4" |<u><div style="text-align: center;">'''Token Nomenclature'''</div></u>
|-
| Iota || = 1 iota || = 1i || = 1i
|-
| Kiloiota || = 1 Kiota || = 1Ki || = 1.000i
|-
| Megaiota || = 1 Miota || = 1Mi || = 1.000.000i
|-
| Gigaiota || = 1 Giota || = 1Gi || = 1.000.000.000i
|-
| Teraiota || = 1 Tiota || = 1Ti || = 1.000.000.000.000i
|-
| Petaiota || = 1 Piota || = 1Pi || = 1.000.000.000.000.000i
|}


=== The Tangle ===
=== The Tangle ===
The Tangle is the moniker used to describe IOTA’s directed acyclic graph (DAG) based transaction settlement and data integrity layer focused on the Internet-of-Things (IoT). The Tangle is essentially a string of individual transactions that are interlinked to each other and stored through a decentralized network of node participants.
The Tangle is the moniker used to describe IOTA’s directed acyclic graph (DAG) transaction settlement and data integrity layer, focused on the Internet-of-Things (IoT).<ref name=":8">{{Cite web|url=https://www.wto.org/english/res_e/publications_e/world_trade_report18_e_under_embargo.pdf|title=World Trade Report 2018|last=|first=|date=|website=World trade Organisation|archive-url=https://web.archive.org/web/20190626040701/https://www.wto.org/english/res_e/publications_e/world_trade_report18_e_under_embargo.pdf|archive-date=26 June 2019|dead-url=|access-date=26 June 2019}}</ref> The Tangle is a string of individual transactions that are interlinked to each other and stored through a decentralized network of node participants.<ref>Hawig D, Zhou C, Fuhrhop S, Fialho AS, Ramachandran N


[https://preprints.jmir.org/preprint/13665 Designing a distributed ledger technology system for interoperable and GDPR-compliant health data exchange - a use case in blood glucose data]
⚫
Importantly, the Tangle does not have miners as users of the network validate transactions themselves through performing small computational Proofs of Work (PoW) for each transaction, by verifying previous transactions submitted to the network.
<ref>{{cite web |last1=Curran |first1=Brian |title=What is The Tangle? Complete Guide to IOTA’s Directed Acyclic Graph (DAG) |url=https://blockonomi.com/iota-tangle/ |website=blockonomi |accessdate=24 May 2019}}</ref>


Journal of Medical Internet Research. (forthcoming/in press)
The Tangle is made of sites and nodes. Sites are a part of the Tangle graph, containing one or some transactions that relate together (transactions represented on the graph). Nodes are the users of IOTA who are eligible to issue transactions. <ref>{{cite web |last1=Hu |first1=Jeff |title=IOTA Tangle: Introductory overview of white paper for Beginners |url=https://hackernoon.com/iota-tangle-introductory-overview-of-white-paper-for-beginners-df9b14882b64 |website=Hackernoon |accessdate=24 May 2019}}</ref>

DOI: 10.2196/13665

URL: <nowiki>https://preprints.jmir.org/preprint/13665</nowiki>

⚫
PMID: 31199293</ref> The Tangle doesn't have miners validating transactions, rather, it requires that network participants validate transactions themselves by performing small computational Proofs of Work (PoW) for each transaction, by verifying two transactions already submitted to the network. <ref name=":8" />


== Security ==
== Security ==
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=== Traceability ===
=== Traceability ===
--Something here about the $14 million worth that were stolen and recovered
--Something here about the $11 million worth that were stolen and recovered

https://www.reuters.com/article/us-crypto-currencies-crime/iota-says-bulk-of-11-million-stolen-tokens-found-hacker-worked-alone-idUSKCN1PO2J5

<br />


=== Quantum Resistance ===
=== Quantum Resistance ===
-Here's the academic reference https://ibimapublishing.com/articles/JSSD/2018/370695/370695.pdf
-Something here about how the network is quantum-resistant

<br />


=== Masked Authenticated Messaging (MAM) ===
=== Masked Authenticated Messaging (MAM) ===
Masked Authenticated Messaging enables the encryption of authenticated data streams going to and from the tangle. This allows applications built on top of the Tangle to securely interact with the data within it.<ref name=":7" /> IOTA's MAM extension is built to be quantum-proof, as it uses post-quantum encryption algorithms.<ref name=":7" /> Additionally, it is designed to ensure forward transaction linking.<ref name=":7" /> This means that given a transaction, a malicious actor can only look forward at successive transactions, and not backwards at past transactions.<ref name=":7" />
Masked Authenticated Messaging enables the encryption of authenticated data streams going to and from the Tangle, allowing applications built on top of the Tangle to securely interact with the encypted data.<ref name=":7" /> IOTA's MAM extension is built to be quantum-proof, as it uses post-quantum encryption algorithms.<ref name=":7" /> Additionally, it is designed to ensure forward transaction linking.<ref name=":7" /> This means that given a transaction, a malicious actor can only look forward at successive transactions, and not backwards at past transactions.<ref name=":7" />


=== 34% Attack ===
=== 34% Attack ===
Line 152: Line 147:


=== Digital Currency Initiative Report ===
=== Digital Currency Initiative Report ===
On the 8th of September 2017, researchers Ethan Heilman, Neha Nerula, [[Thaddeus Dryja]], and Madars Virza from [[Massachusetts Institute of Technology|MIT]]'s Digital Currency Initiative (DCI) reported on potential security flaws with IOTA's Curl-P (prototype) hash function.<ref name=":0">{{Cite web|url=https://ftalphaville.ft.com/2018/04/25/1524628801000/FUD--inglorious-FUD/|title=FUD, inglorious FUD|last=Kelly|first=Jemima|date=25 April 2018|website=Financial Times|archive-url=https://archive.org/details/FUDIngloriousFUDFTAlphaville|archive-date=24 April 2018|dead-url=|access-date=2019-05-18}}</ref><ref name=":1">{{Cite web|url=https://medium.com/@neha/cryptographic-vulnerabilities-in-iota-9a6a9ddc4367|title=Cryptographic vulnerabilities in IOTA|last=Narula|first=Neha|date=2017-09-07|website=Medium|access-date=2019-05-06}}</ref><ref>{{Citation|title=IOTA's hash function curl is broken. Contribute to mit-dci/tangled-curl development by creating an account on GitHub|date=2019-05-01|url=https://github.com/mit-dci/tangled-curl|publisher=The MIT Digital Currency Initiative @ Media Lab|access-date=2019-05-06}}</ref><ref>{{Cite web|url=https://github.com/mit-dci/tangled-curl/blob/master/vuln-iota.md|title=IOTA Vulnerability Report: Cryptanalysis of the Curl Hash Function Enabling Practical Signature Forgery Attacks on the IOTA Cryptocurrency|last=Heilman|first=Ethan|last2=Narula|first2=Neha|date=8 September 2017|website=Github|archive-url=https://web.archive.org/web/20190518033740/https://github.com/mit-dci/tangled-curl/blob/master/vuln-iota.md|archive-date=18 May 2019|dead-url=|access-date=18 May 2019|last3=Dryja|first3=Thaddeus|last4=Virza|first4=Madars}}</ref> Curl-P was IOTA's first iteration of the currently implemented Kerl (a variant of the [[SHA-3|Keccak/SHA-3]]) hash function.<ref name=":4">Narula, Neha (February 2019). [https://fc19.ifca.ai/preproceedings/2019_02_FC_PDF.pdf "Preventing catastrophic cryptocurrency attacks"]. ''International Financial Cryptography Association.'' Retrieved 26 May 2019.<br /></ref><ref>{{Cite web|url=https://www.forbes.com/sites/amycastor/2017/09/07/mit-and-bu-researchers-uncover-critical-security-flaw-in-2b-cryptocurrency-iota/|title=MIT And BU Researchers Uncover Critical Security Flaw In $2B Cryptocurrency IOTA|last=Castor|first=Amy|website=Forbes|language=en|access-date=2019-05-26}}</ref> DCI noted in their report that "it was widely communicated that IOTA was utilizing a prototype hash function since inception.”<ref>Heilman, E., Narula, N., Tanzer, G., Lovejoy, J., Colavita, M., Virza, M., & Dryja, T. (2019). [https://static1.squarespace.com/static/59aae5e9a803bb10bedeb03e/t/5ca0ff3afa0d6013e099cf32/1554054971015/main.pdf "Cryptanalysis of Curl-P and Other Attacks on the IOTA Cryptocurrency."] ''IACR Cryptology ePrint Archive'', ''2019'', 344.</ref> DCI claimed to produce duplicate collisions within the Curl-P hash function that allowed them to forge signatures for transactions.<ref name=":1" /> The IOTA Foundation changed from Curl-P to the Keccak/SHA-3 algorithm variant on August 7th 2017, before DCI released their report.<ref name=":2">{{Cite web|url=https://blog.iota.org/official-statement-regarding-the-mit-dci-email-leaks-ea3cacd6699a|title=Official Statement Regarding the MIT DCI Email Leaks|last=Foundation|first=IOTA|date=2018-02-26|website=IOTA|access-date=2019-05-06}}</ref><ref>{{Cite web|url=https://www.vice.com/en_us/article/ywq44k/a-5-billion-cryptocurrency-iota-has-enraged-cryptographers-leaked-emails|title=A $5 Billion Cryptocurrency Has Enraged Cryptographers|last=Oberhaus|first=Daniel|last2=Pearson|first2=Jordan|date=3 March 2018|website=Vice|archive-url=https://web.archive.org/web/20190518040248/https://www.vice.com/en_us/article/ywq44k/a-5-billion-cryptocurrency-iota-has-enraged-cryptographers-leaked-emails|archive-date=18 May 2019|dead-url=|access-date=18 May 2019}}</ref>
On the 8th of September 2017, researchers Ethan Heilman, Neha Nerula, [[Thaddeus Dryja]], and Madars Virza from [[Massachusetts Institute of Technology|MIT]]'s Digital Currency Initiative (DCI) reported on potential security flaws with IOTA's Curl-P (prototype) hash function.<ref name=":0">{{Cite web|url=https://ftalphaville.ft.com/2018/04/25/1524628801000/FUD--inglorious-FUD/|title=FUD, inglorious FUD|last=Kelly|first=Jemima|date=25 April 2018|website=Financial Times|archive-url=https://archive.org/details/FUDIngloriousFUDFTAlphaville|archive-date=24 April 2018|dead-url=|access-date=2019-05-18}}</ref><ref name=":1">{{Cite web|url=https://medium.com/@neha/cryptographic-vulnerabilities-in-iota-9a6a9ddc4367|title=Cryptographic vulnerabilities in IOTA|last=Narula|first=Neha|date=2017-09-07|website=Medium|access-date=2019-05-06}}</ref><ref>{{Cite web|url=https://github.com/mit-dci/tangled-curl/blob/master/vuln-iota.md|title=IOTA Vulnerability Report: Cryptanalysis of the Curl Hash Function Enabling Practical Signature Forgery Attacks on the IOTA Cryptocurrency|last=Heilman|first=Ethan|last2=Narula|first2=Neha|date=8 September 2017|website=Github|archive-url=https://web.archive.org/web/20190518033740/https://github.com/mit-dci/tangled-curl/blob/master/vuln-iota.md|archive-date=18 May 2019|dead-url=|access-date=18 May 2019|last3=Dryja|first3=Thaddeus|last4=Virza|first4=Madars}}</ref> Curl-P was IOTA's first iteration of the currently implemented Kerl (a variant of the [[SHA-3|Keccak/SHA-3]]) hash function.<ref name=":4">Narula, Neha (February 2019). [https://fc19.ifca.ai/preproceedings/2019_02_FC_PDF.pdf "Preventing catastrophic cryptocurrency attacks"]. ''International Financial Cryptography Association.'' Retrieved 26 May 2019.<br /></ref><ref>{{Cite web|url=https://www.forbes.com/sites/amycastor/2017/09/07/mit-and-bu-researchers-uncover-critical-security-flaw-in-2b-cryptocurrency-iota/|title=MIT And BU Researchers Uncover Critical Security Flaw In $2B Cryptocurrency IOTA|last=Castor|first=Amy|website=Forbes|language=en|access-date=2019-05-26}}</ref> DCI noted in their report that "it was widely communicated that IOTA was utilizing a prototype hash function since inception.”<ref>Heilman, E., Narula, N., Tanzer, G., Lovejoy, J., Colavita, M., Virza, M., & Dryja, T. (2019). [https://static1.squarespace.com/static/59aae5e9a803bb10bedeb03e/t/5ca0ff3afa0d6013e099cf32/1554054971015/main.pdf "Cryptanalysis of Curl-P and Other Attacks on the IOTA Cryptocurrency."] ''IACR Cryptology ePrint Archive'', ''2019'', 344.</ref> DCI claimed to produce duplicate collisions within the Curl-P hash function that allowed them to forge signatures for transactions.<ref name=":1" /> The IOTA Foundation changed from Curl-P to the Keccak/SHA-3 algorithm variant on August 7th 2017, before DCI released their report.<ref name=":2">{{Cite web|url=https://blog.iota.org/official-statement-regarding-the-mit-dci-email-leaks-ea3cacd6699a|title=Official Statement Regarding the MIT DCI Email Leaks|last=Foundation|first=IOTA|date=2018-02-26|website=IOTA|access-date=2019-05-06}}</ref><ref>{{Cite web|url=https://www.vice.com/en_us/article/ywq44k/a-5-billion-cryptocurrency-iota-has-enraged-cryptographers-leaked-emails|title=A $5 Billion Cryptocurrency Has Enraged Cryptographers|last=Oberhaus|first=Daniel|last2=Pearson|first2=Jordan|date=3 March 2018|website=Vice|archive-url=https://web.archive.org/web/20190518040248/https://www.vice.com/en_us/article/ywq44k/a-5-billion-cryptocurrency-iota-has-enraged-cryptographers-leaked-emails|archive-date=18 May 2019|dead-url=|access-date=18 May 2019}}</ref>


According to the IOTA Foundation the alleged security vulnerability didn't put user funds at stake, and that DCI had discovered IOTA's purposefully placed form of [[copy protection]].<ref name=":0" /><ref name=":4" /> The IOTA Foundation raised their concern for a conflict of interest behind the DCI report <ref name=":0" /><ref>{{Cite web|url=https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-2-9ce650ad789c|title=Official IOTA Foundation Response to the Digital Currency Initiative at the MIT Media Lab — Part 2…|last=Foundation|first=IOTA|date=2018-01-07|website=IOTA|access-date=2019-05-06}}</ref> and the authoring researchers' official involvement in various competing cryptocurrencies and IoT solutions.<ref>{{Cite web|url=https://www.coindesk.com/spectre-creators-seek-vc-backing-for-blockchain-free-cryptocurrency|title=SPECTRE Creators Seek VC Backing for Blockchain-Free Cryptocurrency|last=Rizzo|first=Pete|last2=O'Leary|first2=Rachel Rose|date=25 October 2017|website=Coindesk|archive-url=https://web.archive.org/web/20190518061901/https://www.coindesk.com/spectre-creators-seek-vc-backing-for-blockchain-free-cryptocurrency|archive-date=18 May 2019|dead-url=|access-date=18 May 2019}}</ref><ref>{{Cite web|url=https://www.forbes.com/sites/billybambrough/2018/07/06/bitcoins-lightning-network-could-play-havoc-with-the-bitcoin-price/#404a61757f1a|title=Bitcoin's Lightning Network Could Play Havoc With The Bitcoin Price|last=Bambrough|first=Billy|date=|website=Forbes|archive-url=https://web.archive.org/web/20190518045531/https://www.forbes.com/sites/billybambrough/2018/07/06/bitcoins-lightning-network-could-play-havoc-with-the-bitcoin-price/|archive-date=18 May 2019|dead-url=|access-date=18 May 2019}}</ref><ref>{{Cite web|url=https://www.coindesk.com/bitcoin-lightning-creator-mit-digital-currency-initiative|title=Bitcoin Lightning Network Creator Joins MIT Digital Currency Effort|last=Rizzo|first=Pete|date=31 January 2017|website=Coindesk|archive-url=https://web.archive.org/web/20190518062852/https://www.coindesk.com/bitcoin-lightning-creator-mit-digital-currency-initiative|archive-date=18 May 2019|dead-url=|access-date=18 May 2019}}</ref><ref>{{Cite web|url=http://zerocash-project.org/about_us|title=About Us|last=|first=|date=|website=Zerocash|archive-url=https://web.archive.org/web/20190518063004/http://zerocash-project.org/about_us|archive-date=18 May 2019|dead-url=|access-date=18 May 2019}}</ref>
According to the IOTA Foundation the alleged security vulnerability didn't put user funds at stake, and that DCI had discovered IOTA's purposefully placed form of [[copy protection]].<ref name=":0" /><ref name=":4" /> The IOTA Foundation raised their concern for a conflict of interest behind the DCI report <ref name=":0" /><ref>{{Cite web|url=https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-2-9ce650ad789c|title=Official IOTA Foundation Response to the Digital Currency Initiative at the MIT Media Lab — Part 2…|last=Foundation|first=IOTA|date=2018-01-07|website=IOTA|access-date=2019-05-06}}</ref> and the authoring researchers' official involvement in various competing cryptocurrencies and IoT solutions.<ref>{{Cite web|url=https://www.coindesk.com/spectre-creators-seek-vc-backing-for-blockchain-free-cryptocurrency|title=SPECTRE Creators Seek VC Backing for Blockchain-Free Cryptocurrency|last=Rizzo|first=Pete|last2=O'Leary|first2=Rachel Rose|date=25 October 2017|website=Coindesk|archive-url=https://web.archive.org/web/20190518061901/https://www.coindesk.com/spectre-creators-seek-vc-backing-for-blockchain-free-cryptocurrency|archive-date=18 May 2019|dead-url=|access-date=18 May 2019}}</ref><ref>{{Cite web|url=https://www.forbes.com/sites/billybambrough/2018/07/06/bitcoins-lightning-network-could-play-havoc-with-the-bitcoin-price/#404a61757f1a|title=Bitcoin's Lightning Network Could Play Havoc With The Bitcoin Price|last=Bambrough|first=Billy|date=|website=Forbes|archive-url=https://web.archive.org/web/20190518045531/https://www.forbes.com/sites/billybambrough/2018/07/06/bitcoins-lightning-network-could-play-havoc-with-the-bitcoin-price/|archive-date=18 May 2019|dead-url=|access-date=18 May 2019}}</ref><ref>{{Cite web|url=https://www.coindesk.com/bitcoin-lightning-creator-mit-digital-currency-initiative|title=Bitcoin Lightning Network Creator Joins MIT Digital Currency Effort|last=Rizzo|first=Pete|date=31 January 2017|website=Coindesk|archive-url=https://web.archive.org/web/20190518062852/https://www.coindesk.com/bitcoin-lightning-creator-mit-digital-currency-initiative|archive-date=18 May 2019|dead-url=|access-date=18 May 2019}}</ref><ref>{{Cite web|url=http://zerocash-project.org/about_us|title=About Us|last=|first=|date=|website=Zerocash|archive-url=https://web.archive.org/web/20190518063004/http://zerocash-project.org/about_us|archive-date=18 May 2019|dead-url=|access-date=18 May 2019}}</ref>

Revision as of 05:52, 26 June 2019

IOTA Digital Currency
Denominations
PluralIOTAs
CodeIOTA, MIOTA
Development
White paperPopov, Serguei (30 April 2018). "The Tangle v1.4.3" (PDF).
Initial release21 June 2014; 10 years ago (2014-06-21)
Code repositoryhttps://github.com/iotaledger
Website
Websiteiota.org

IOTA is an open-source distributed ledger designed specifically for the Internet of things (IoT).[1] It stores transactions in a directed acyclic graph (DAG) structure, called the "Tangle".[2] The Tangle is a scalable network that offers feeless data and value transfer between system actors.[3] IOTA facilitates applications that require high-speed communication between endpoints seeking to transfer data and value, particularly Machine to Machine (M2M) ecosystems that deal with real-time microtransactions.[4] The network uses the iota token to enable value transfer between participants, a feature that aligns IOTA with cryptocurrencies.[5]

Network participants are jointly responsible for transaction validations, and must confirm two outstanding transactions for every transaction they issue.[6] Leveraging this validation method enables feeless transactions on the IOTA network, as opposed to paying mining fees.[7] This is a deviation from traditional blockchain networks that rely on mining pools to confirm transactions through proof-of-work (PoW) algorithms.[7]

The present network relies on a coordinator node called "Compass",[8] which validates all network transactions to secure the platform against 34% attacks.[9] A consequence of using Compass is that it creates a bottleneck for transaction confirmations, lowering the Tangle's current capacity for processing transactions per second (TPS).[10] Compass will remain an authority until the network can operate securely on its own, as a completely decentralized system.[11]

IOTA is governed by the German non-profit “IOTA Foundation” (IF). The IOTA Foundation is a group of developers, professional researchers, and business people who have the authority to direct IOTA's development.[12] At present the IOTA Foundation has partnerships with various institutions.[13][14][15][16][17][18]

History

2015

The project was founded in 2015 by David Sønstebø, Dominik Schiener, Sergey Ivancheglo, and Serguei Popov, who set up the IOTA Foundation to govern it. The foundation, a Stiftung under German law, is based in Berlin and as of March 2018 had 60 employees.[19][20]

2017

On June 13, IOTA started trading on Bitfinex’s cryptocurrency exchange. Its debut listing broke records by exceeding $1.5 billion (bn) in market capitalization.[21]


2018

--Hannover Messe


2019 - Current

In April 2019, Jaguar Land Rover partnered with IOTA foundation on a project that allows car owners to earn IOTA tokens as they drive by enabling their vehicles to report useful data.[22][23] FT Alphaville reported, however, that this project was not proceeding - that "the press release was allegedly motivated by a last-ditch effort to draw some sort of value (a.k.a. temporary buzz) out of an otherwise failed investment. The source added, if one was to go through the press release carefully one would soon discover it was phrased very cleverly to give the impression that Jaguar was committing to a crypto service when it actually wasn't."[24]

--Hannover Messe


TOPICS

This information must be captured in it's corresponding year - everything needs a source from somewhere that isn't owned by iota:

  1. IOTA ICO and early token Distribution
  2. When was the .org website registered[25] - and when did it go live? (->15/04/2018 See Discord announcement, but need better source)
  3. Where and when was the first white paper put up and by who
  4. MAJOR exchange listings
  5. When did Tangle go live
  6. When was the IF founded
  7. Involvement in Hannover Messe


Design

Units

Iota is the unit of account on the IOTA network. Common ticker symbols representing iota are MIOTA and IOTA.[26] Iota is sold as 'Miota' on most cryptocurrency exchanges.[26]

There are 2,779,530,283,277,761 (or ) Iota available in the IOTA network.[27] [28]

The Tangle

The Tangle is the moniker used to describe IOTA’s directed acyclic graph (DAG) transaction settlement and data integrity layer, focused on the Internet-of-Things (IoT).[29] The Tangle is a string of individual transactions that are interlinked to each other and stored through a decentralized network of node participants.[30] The Tangle doesn't have miners validating transactions, rather, it requires that network participants validate transactions themselves by performing small computational Proofs of Work (PoW) for each transaction, by verifying two transactions already submitted to the network. [29]

Security

Proof of Work

Type of hash function.

Traceability

--Something here about the $11 million worth that were stolen and recovered

https://www.reuters.com/article/us-crypto-currencies-crime/iota-says-bulk-of-11-million-stolen-tokens-found-hacker-worked-alone-idUSKCN1PO2J5


Quantum Resistance

-Here's the academic reference https://ibimapublishing.com/articles/JSSD/2018/370695/370695.pdf


Masked Authenticated Messaging (MAM)

Masked Authenticated Messaging enables the encryption of authenticated data streams going to and from the Tangle, allowing applications built on top of the Tangle to securely interact with the encypted data.[7] IOTA's MAM extension is built to be quantum-proof, as it uses post-quantum encryption algorithms.[7] Additionally, it is designed to ensure forward transaction linking.[7] This means that given a transaction, a malicious actor can only look forward at successive transactions, and not backwards at past transactions.[7]

34% Attack

Similar to a 51% attack against traditional blockchains, if a malicious user controls over 34% of the IOTA networks hashing power they have the theoretical ability to double spend.[31] However, this also requires the attacker to have omnipotent knowledge of transactions within the Tangle, which becomes increasingly difficult as the Tangle grows larger.[Source Needed, possibly within white paper?]

Criticism

Reliance on a Coordinator (Compass)

-something here about the 'wen coo-less' argument and how TPS is throttled 'cos of Compass.

Centralized Network

-has IOTA officially claimed it's decentralized?

-if so then something about how IOTA claims to be centralized, wen relying on "Compass makes a centralized network" ??

-who has claimed decentralized?

-arguments for and against the network being centralized

Digital Currency Initiative Report

On the 8th of September 2017, researchers Ethan Heilman, Neha Nerula, Thaddeus Dryja, and Madars Virza from MIT's Digital Currency Initiative (DCI) reported on potential security flaws with IOTA's Curl-P (prototype) hash function.[32][33][34] Curl-P was IOTA's first iteration of the currently implemented Kerl (a variant of the Keccak/SHA-3) hash function.[35][36] DCI noted in their report that "it was widely communicated that IOTA was utilizing a prototype hash function since inception.”[37] DCI claimed to produce duplicate collisions within the Curl-P hash function that allowed them to forge signatures for transactions.[33] The IOTA Foundation changed from Curl-P to the Keccak/SHA-3 algorithm variant on August 7th 2017, before DCI released their report.[38][39]

According to the IOTA Foundation the alleged security vulnerability didn't put user funds at stake, and that DCI had discovered IOTA's purposefully placed form of copy protection.[32][35] The IOTA Foundation raised their concern for a conflict of interest behind the DCI report [32][40] and the authoring researchers' official involvement in various competing cryptocurrencies and IoT solutions.[41][42][43][44]

The DCI report opened IOTA to criticism for implementing Curl-P, aligning their security design with the cryptographic position that "you don't roll your own crypto".[45][46]

FT Alphaville documented an allegation of a legal threat against the DCI security researchers for revealing the hole, however, IOTA Foundation denied the allegation. The article also outlined aggressive language from a slack conversation about a journalist reporting on the issue.[32] The Center for Blockchain Technologies at the University College London severed ties with the IOTA Foundation after the FT Alphaville report in late April 2018, due to the alleged legal threat against security researchers.[47]

References

  1. ^ Sarfraz, Umair; Masoom, Alam; Sherali, Zeadally; Khan, Abid (15 January 2019). "Privacy aware IOTA ledger: Decentralized mixing and unlinkable IOTA transactions". Computer Networks. 148: 361–372 – via Elsevier Science Direct.
  2. ^ El Ioini N., Pahl C. (2018) A Review of Distributed Ledger Technologies. In: Panetto H., Debruyne C., Proper H., Ardagna C., Roman D., Meersman R. (eds). On the Move to Meaningful Internet Systems. OTM 2018 Conferences. OTM 2018. Lecture Notes in Computer Science, vol 11230. Springer, Cham. First Online: 18 October 2018. DOI: https://doi.org/10.1007/978-3-030-02671-4_16
  3. ^ Wahab, Abdul; Barlas, Mahad; Mahmood, Waqas (24 May 2018). "Zenith Certifier: A Framework to Authenticate Academic Verifications Using Tangle". Journal of Software and Systems Development. 2018: 1–13 – via IBIMA Publishing.
  4. ^ Strugar, D., Hussain, R., Mazzara, M., Rivera, V., Lee, J., & Mustafin, R. (2018). On M2M micropayments: A case study of electric autonomous vehicles. arXiv preprint arXiv:1804.08964. https://arxiv.org/abs/1804.08964v2
  5. ^ Milutinović, Monia (2018). "CRYPTOCURRENCY". Економика - Часопис за економску теорију и праксу и друштвена питања. 1: 105–122 – via Central and Eastern European Online Library (CEEOL).
  6. ^ Popov, Serguei (30 April, 2018). The Tangle. IOTA Foundation. Retrieved 6 May, 2019.
  7. ^ a b c d e f Brogan, James; Baskaran, Immanuel; Ramachandran, Navin (8 May 2019). "Authenticating Health Activity Data Using Distributed Ledger Technologies". Computational and Structural Biotechnology Journal. 16: 257–266. doi:10.1016/j.csbj.2018.06.004 – via Science Direct.
  8. ^ "Compass overview". www.iota.org. Retrieved 10 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  9. ^ Fan, Stephen & Khazaei, Hamzeh & Chen, Yuxiang & Musilek, Petr. (2019). Towards A Scalable DAG-based Distributed Ledger for Smart Communities. ResearchGate. URL: https://www.researchgate.net/publication/331484970_Towards_A_Scalable_DAG-based_Distributed_Ledger_for_Smart_Communities
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  11. ^ Barolli, Leonard; Takizawa, Makoto; Xhafa, Fatos; Enokido, Tomoya (2019). WEB, ARTIFICIAL INTELLIGENCE AND NETWORK APPLICATIONS. Springer. pp. 122–124. ISBN 9783030150358.
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  13. ^ Chavez-Dreyfus, Gertrude (29 November 2017). "Blockchain network IOTA teams up with Microsoft, others on data marketplace". Reuters. Archived from the original on 17 May 2019. Retrieved 17 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  14. ^ Chavez-Dreyfuss, Gertrude (29 April 2019). "Jaguar Land Rover planning to allow helpful car drivers to earn cryptocurrency". Reuters. Archived from the original on 17 May 2019. Retrieved 17 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  15. ^ Shields, Nicole (26 December 2017). "Robert Bosch bets on IOTA". Business Insider. Archived from the original on 17 May 2019. Retrieved 17 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  16. ^ "Fujitsu - Proof of Concept" (PDF). Fujitsu. 25 August 2018. Archived from the original (PDF) on 17 May 2019. Retrieved 17 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  17. ^ "AUSTIN MOBILITY NEWS: BIKE MONTH IS ALMOST HERE, AUSTIN TRANSPORTATION PARTNERS WITH IOTA FOUNDATION ON NEW MOBILITY, SHOAL CREEK ALTERNATIVES". City of Austin. Archived from the original on 17 May 2019. Retrieved 17 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  18. ^ "IOTA: A NEW PARTNER ON THE BLOCK(CHAIN)". Evrythng. 17 April 2019. Retrieved 21 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  19. ^ Kahl, Stephan (7 March 2018). "22-Year-Old Behind $5 Billion Crypto Is Just Getting Started". Bloomberg.
  20. ^ "The IOTA Foundation". www.iota.org. Retrieved 6 May 2019.
  21. ^ Evelyn, Cheng. "Major bitcoin exchanges hit by cyberattacks as record rally makes them a target". CNBC. CNBC. Retrieved 20 May 2019.
  22. ^ "ON THE MONEY: EARN AS YOU DRIVE WITH JAGUAR LAND ROVER". Jaguar Land Rover. 29 April 2019. Retrieved 30 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  23. ^ Taylor, Chloe (29 April 2019). "Jaguar Land Rover to let drivers earn cryptocurrency by sharing data". CNBC.
  24. ^ Kaminska, Izabella (28 May 2019). "Emperor has no clothes, Jaguar crypto press release edition". Financial Times. Retrieved 28 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  25. ^ https://www.whois.com/whois/iota.org
  26. ^ a b "IOTA - Binance Info". Binance. Retrieved 26 June 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  27. ^ "IOTA Reference Implementation". GitHub. Retrieved 7 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  28. ^ "IOTA - CoinMarketCap". CoinMarketCap. Retrieved 26 June 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  29. ^ a b "World Trade Report 2018" (PDF). World trade Organisation. Archived from the original (PDF) on 26 June 2019. Retrieved 26 June 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  30. ^ Hawig D, Zhou C, Fuhrhop S, Fialho AS, Ramachandran N Designing a distributed ledger technology system for interoperable and GDPR-compliant health data exchange - a use case in blood glucose data Journal of Medical Internet Research. (forthcoming/in press) DOI: 10.2196/13665 URL: https://preprints.jmir.org/preprint/13665 PMID: 31199293
  31. ^ Frankenfield, Jake. "51% Attack". Investopedia. Retrieved 9 May 2019.
  32. ^ a b c d Kelly, Jemima (25 April 2018). "FUD, inglorious FUD". Financial Times. Archived from the original on 24 April 2018. Retrieved 18 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  33. ^ a b Narula, Neha (7 September 2017). "Cryptographic vulnerabilities in IOTA". Medium. Retrieved 6 May 2019.
  34. ^ Heilman, Ethan; Narula, Neha; Dryja, Thaddeus; Virza, Madars (8 September 2017). "IOTA Vulnerability Report: Cryptanalysis of the Curl Hash Function Enabling Practical Signature Forgery Attacks on the IOTA Cryptocurrency". Github. Archived from the original on 18 May 2019. Retrieved 18 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  35. ^ a b Narula, Neha (February 2019). "Preventing catastrophic cryptocurrency attacks". International Financial Cryptography Association. Retrieved 26 May 2019.
  36. ^ Castor, Amy. "MIT And BU Researchers Uncover Critical Security Flaw In $2B Cryptocurrency IOTA". Forbes. Retrieved 26 May 2019.
  37. ^ Heilman, E., Narula, N., Tanzer, G., Lovejoy, J., Colavita, M., Virza, M., & Dryja, T. (2019). "Cryptanalysis of Curl-P and Other Attacks on the IOTA Cryptocurrency." IACR Cryptology ePrint Archive, 2019, 344.
  38. ^ Foundation, IOTA (26 February 2018). "Official Statement Regarding the MIT DCI Email Leaks". IOTA. Retrieved 6 May 2019.
  39. ^ Oberhaus, Daniel; Pearson, Jordan (3 March 2018). "A $5 Billion Cryptocurrency Has Enraged Cryptographers". Vice. Archived from the original on 18 May 2019. Retrieved 18 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  40. ^ Foundation, IOTA (7 January 2018). "Official IOTA Foundation Response to the Digital Currency Initiative at the MIT Media Lab — Part 2…". IOTA. Retrieved 6 May 2019.
  41. ^ Rizzo, Pete; O'Leary, Rachel Rose (25 October 2017). "SPECTRE Creators Seek VC Backing for Blockchain-Free Cryptocurrency". Coindesk. Archived from the original on 18 May 2019. Retrieved 18 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  42. ^ Bambrough, Billy. "Bitcoin's Lightning Network Could Play Havoc With The Bitcoin Price". Forbes. Archived from the original on 18 May 2019. Retrieved 18 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  43. ^ Rizzo, Pete (31 January 2017). "Bitcoin Lightning Network Creator Joins MIT Digital Currency Effort". Coindesk. Archived from the original on 18 May 2019. Retrieved 18 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  44. ^ "About Us". Zerocash. Archived from the original on 18 May 2019. Retrieved 18 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  45. ^ Cox, Joseph (10 December 2015). "Why You Don't Roll Your Own Crypto". Vice. Retrieved 26 May 2019.
  46. ^ "Cryptocurrency insecurity: IOTA, BCash and too many more". TechCrunch. Retrieved 26 May 2019.
  47. ^ Mix (28 April 2018). "University College London (UCL) severs ties with IOTA Foundation". The Next Web. Retrieved 6 May 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)

Category:Cryptocurrencies

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