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Claims and Reclaims: Finalization

Background During an attack on the IOTA network in October, some funds were found to be at risk of theft, due to users re-using their private keys. The IOTA team took the decision to protect IOTA token holders by taking those funds which were at risk into temporary custody through a snapshot. Once the attack was stopped, the team worked on setting up a process for reclaiming the funds, and sending them back to the rightful owners. This process of receiving and validating the claims has been understandably complicated and…

IOTA’s Data Marketplace: Setting the record straight

With the FOMO-FUD cycle taking its toll on IOTA and us being continuously misrepresented in the media, we wanted to come forth with a public statement clearing up the confusion and miscommunication surrounding the data marketplace that has happened over the past few weeks. We apologize for any inconvenience caused by this issue to our associated collaborators and the community at large. Due to the fact that IOTA is both a regulated non-profit foundation based in Germany, as well as a token economy currently valued (at…

Sharding the IOTA Tangle Effectively

The IOTA tangle is an incredibly innovative data structure which eliminates the need for expensive and/or centralizing PoW/PoS-based synchronization. However, there’s one pertaining problem with it: The IOTA Tangle is currently stored on every single node, in full, which requires the database to be pruned (i.e snapshotted) regularly, which is an inelegant solution to the problem as we want data stored in the Tangle to, ideally, last forever (or at least a reasonably long time), in much the same way as in a blockchain.When…

Equilibria in the Tangle: let me try to explain… (part 2)

In our previous post, we explained the importance to find a Nash Equilibrium for the game of attaching transactions to the IOTA Tangle. In the paper (Equilibria in the tangle) we proved its existence and showed that, on this point, all the selfish nodes would choose a similar strategy. However, we still need to see how this Nash Equilibrium looks like. While the theory proves the existence of an “almost symmetric” Nash Equilibrium, this result does not say anything about the strategy nature and which effect it would have on…

Welcome Jens Munch Lund-Nielsen to the IOTA Foundation

Jens Munch Lund-Nielsen has built a life and career on bringing together different professional fields and sectors, thereby creating new types of partnerships. By carefully and deliberately mixing diverse experts and interests, he has built new ventures and created impactful partnerships — especially within the field of supply chains and global trade. For the last 8 years he has taken up different roles within A.P. Moller — Maersk including launching a new e-trade platform for Africa, forged a partnership with a large bank…

Welcome Max Minchenkov to the IOTA Foundation

Max Minchenkov is an experienced serial entrepreneur who resides in Moscow and is co-founder and owner in a number of companies engaged mainly in the oil & gas, manufacturing and telecom industry.After obtaining a Bachelor Degree in International Relations and Executive Program from INSEAD, he has started his career in Investment Banking with the World Bank, he shorty moved into the ‘real’ industry as a Vice-President of an oil-field service company — IDS Group, and later dived into his own projects as an…

IOTA selected by Tokyo Metropolitan Government Program

With the rapid growth of IOTA in Asia and the increasing interest of Asian companies to work with IOTA, we think that this is a unique opportunity for the Foundation to setup a dedicated, staffed office in Tokyo with support from the government and start working with the local ecosystem. Several of the Founders and Core Developers will frequent Japan during the program and the Foundation will setup several Meetups and Events to help kickstart IOTA’s growth in the Japanese community.Participating Japanese…

Robert Bosch Venture Capital makes first investment in distributed ledger technology

Stuttgart, Germany – Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch Group, has purchased a significant amount of IOTA tokens, one of the largest cryptocurrencies in the world. In doing so it hopes to intensify the collaboration with the IOTA Foundation, an open-source non-profit foundation from Germany. RBVC also intends to elevate the technology to maturity by bringing it closer to Bosch’s global ecosystem and key partners. “Distributed ledger technology will play an important…

Flash Channels Competition & Statistics

Last month we released the Flash Channels demo and more recently the specialised Micro-payments demo. These demos showcased instant streaming of IOTA tokens in a secure, off-tangle state channels. This technology enables special use cases of IOTA which require sub-second token exchanges among one or more partners. The technology of Flash Channels enables a number of interesting new payment interactions. Never before was it possible to have instant and fee-less value transfer. A perfect example is exchanging tokens in…

IOTA Mixer v1 Released

The IOTA mixer mentioned in my post ‘Research on Private Transactions in IOTA’ is now running on the testnet. You can try it out with your testnet funds here. The mixer is the first application aiming to improve the anonymity and fungibility of IOTA. As mentioned in the above post, as with most cryptocurrencies, IOTA’s ledger is transparent by design. This means that all transactional data can be viewed on a website like the IOTA Tangle Explorer. While Masked Authentication Messaging may be used to encrypt messages sent…

GUI Wallet: Phase Two of the Reclaim process

Two weeks ago we released an update to our GUI wallet so that users could begin with the reclaim process. The reclaim process was necessary for all users whose tokens were moved to an IOTA Foundation owned address as part of precautionary measures.Today, we are releasing a new wallet containing the functionality for the second phase of reclaim process. As part of this process, you’ll publish a PGP encrypted message containing your old seed to the tangle which we’ll then use to verify & send you your tokens.If your…

IOTA Simulations: First Preview to the Community

Over the last few months the IOTA Team has been working on a computer simulation framework of the Tangle. The intention of this simulation framework is to first and foremost, generate and examine different Tangle environments under different conditions. These simulations help us to further improve and optimize the IOTA Tangle itself, but to also show the resiliency of the Tangle against attacks or to study new potential attacks. With the IOTA Foundation officially being set up, we intend to take this research to the…

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