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About Smart Contracts in IOTA

Smart Contracts certainly are a hot topic for several Distributed Ledger Technologies.Naturally, the wider IOTA community provides been discussing IOTA’s roadmap regarding their availability a lot. Actually, it is among those queries, you repeatedly hear people talk about on ask-me-anything periods with the IOTA founders.Allow’s be clear: Around this writing, IOTA will not “natively” assistance smart contracts. The IOTA Basis has publicly stated, that clever contracts will not be an attribute of the IOTA core but…

Help! My IOTA balance is zero!

(Steps to help you find your balance after a snapshot) This is the latest incarnation of an article I wrote around the time of the October 2017 snapshot. I had been helping so many people find their balance again that I decided that my time would be better spent writing the process down for people to follow as a step by step guide that I could refer them to. First of all, don’t panic, your iotas are most likely perfectly safe. Second, no matter who or what, *never* give your seed to anyone. Especially not if they say they…

IOTA vs DCI, or how an innocent hash collision became a huge ego collision

#cryptoanalyst This article describes my view on the IOTA vs DCI situation and explores why I would happily use Curl to secure IOTA. Having read the leaked emails between IOTA and DCI entirely it seems very clear to me that DCI crossed the line of objectivity so far that it isn’t even funny any more. Conflict of interest is dripping from a lot of the emails and responses. Yes, I am an IOTA aficionado, but even more so I am a developer. And a developer wants to see the truth and proof of claims that are being made. I…

How Fund Transfer is Done in IOTA

1. Overview This write-up is to show how Iota wallets transfer iotas. We will first examine how wallet works and get some idea on how fee-free transaction looks like. Finally we will take a look on the transaction and how it is stored in the distributed ledger (IOTA Tangle).IOTA Testnet is being used in this setup, and IOTA Light Wallet is setup for IOTA Testnet access. A node console is used for accessing IOTA API for further exploration.There is a sister article “How Transaction is Done in Bitcoin”. Ideally open that…

IOTA: What if…

IOTA has one of the biggest crypto-communities out there. So big that it had to swap from Slack to Discord because there were too many people trying to follow what was going on.However, this also attracts the attention of people who are very critical of the new technology. And these people found refuge in the report about the alleged vulnerability in the IOTA code — even though all the claims were refuted by the IOTA foundation and there has neither been any line of code which prooves the validity of the claims nor was the…

IOTA cheques: sending iotas anywhere without requiring a receive address.

The donation problem For the longest time one of the problems with IOTA has been the impossibility of having a secure and fixed reusable donation address. This is entirely due to the single-signing nature of IOTA addresses. You cannot simply post an IOTA address and have people send funds there, because once you decide to collect the funds at that address and spend them that address can no longer be used. With the current wallets protecting against key reuse you will now need to replace the old donation address with a…

IOTΛlias, a wallet protocol for implementing public and private aliases

In my previous two articles I explored possible solutions to the IOTA donation address problem and the IOTA address alias problem . Since both solutions were written up as kind of spur-of-the-moment articles there were still a few weaknesses in the approaches, especially with respect to the alias solution. The latter needed the assistance of the IRI to be able to function properly. Now that I have had the time to think things through more thoroughly I think I have come up with a solution that builds entirely on the existing…

IOTA: Why the new PoWbox is great

Today the IOTA Foundation published great news: Relaunching the PoWBox! https://t.co/ZGe26ZIuQU #IOTA #POWBOX— @iotatoken So is this the new wallet? NO!Is this a big partnership? NO!Is it Q? NO!But still it is a very important addition to the IOTA project:As you may know, before sending a transaction in IOTA, two other transactions must be “checked” if they are valid. This “check” is done via computational power which in turn is called Proof-of-Work (PoW; you may read my article on the technical background with…

The Tangle: an illustrated introduction 5

Part 5: Consensus, confirmation confidence, and the coordinator Last week we mentioned the double-spend problem, which arises when Alice tries to spend her money more than once. In this post, which will be the last in the series, we show how this problem is resolved in the IOTA Tangle, and how we decide which history is the valid one.To illustrate the problem, we will examine the following double spend scenario:As you can see, Alice has 5i, which she gives to both Charlie and Bob. This is clearly a problem: we cannot…

Official Statement Regarding the MIT DCI Email Leaks

Next Steps We have spent much more time than we intended to on discussing this issue ad nauseum, and we would like to put it to bed. However, we can’t do that without help from the DCI team. To that end, we propose the following:We hereby formally request DCI to complete the proper disclosure protocols: we call on Ethan, Neha and their team to release any and all code, documentation, research, etc., they have developed in conjunction with their findings. If DCI are unable or unwilling to release all of the…

IOTA: What the DCI emails reveal

IOTA has received a lot of bad press so far because of the DCI allegations — if you are not familiar with this topic, you may read the summary here (see point 1).With Tangleblog’s disclosure of their email correspondence between IOTA devs and the DCI team we have a source now to get a closer look at what really happened (and what not). I want to point out here that Tangleblog is not part of the IOTA Foundation but just a community member; the same is true for me.The IOTA Foundation did not make these emails public: As an…

Debunking the ‘IOTA Vulnerability Report’

For many months now we constantly see the same report showing up in FUD articles about IOTA. The report is continuously being used to show that IOTA is vulnerable to theft because the signing process uses the Curl hash function, which is supposedly unsafe. Well guess what? IOTA’s signing process does not use Curl and hasn’t used it since August 2017, which was right before this (arguably malicious hidden agenda based) report came out. A lot of resources have been spent in the mean time trying to debunk this report. Such is…

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