July IOTA Argentina Meetup review
Yesterday, 25th of July, we had our third IOTA Meetup in Argentina with the participation of Serguei Popov, IOTA Cofounder. This edition was sponsored by the IOTA Ecosystem and took place in Instituto Baikal, that kindly allowed us to use their spaces as venue.
Despite the fact of having to deal with a heavy rain night, around 60 persons came to see what this IOTA thing was about. Let’s quickly review how things went.
We are already working to upload each talk individually to Youtube.
What is IOTA? by Gabriela Jara
Gabriela had the hard job of explaining in less than 20 minutes what IOTA is, assuming that the audience did not have an idea about what a DLT is. She took us through DLTs, explained what blockchain was and also its limitations and, finally, why IOTA needed a new data structure called the Tangle. It was a very good introduction to IOTA that left newcomers with lots of questions (addressed in the Food Break, mostly).
Serguei told the story of how IOTA was born. Beginning with his contributions to Sergey Ivangleglo’s NXT and following with the adition of Sønstebø and the creation of a DAG based DLT called Amaranth that would eventually become IOTA. This guys were thinking on a DLT for the Internet of Things and, clearly, the Blockchain was not a good data structure for this because of its limitations in terms of performance and electrical consumption. Therefore, the Tangle was born as a new method to allow descentralization without the need of miners, fees and the limitation of having to place your transactions inside a limited sized block.
Serguei also spoke about the Oslo IOTA summit and the advances achieved there by the research team in the direction of getting rid of the Coordinator and having a better tip selection algorithm.
