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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…

IOTA: MAM Eloquently Explained

MAM, Masked Authenticated Message, is one of the most remarkable features of IOTA. Let us speculate the world full of small IoT devices, where their small jobs, flow of microscopic data, and nano-payments come and go all over the globe. IOTA, whose goal is to become the very fundamental layer of coming society, is the most provident project of the time that challenges looming paradigm shift. And MAM is its core driving force, which distinguishes IOTA from other distributed ledger by making data flow and transactions much…

IOTA: Signature And Validation

Address generation First of all, create Private Key from Seed.// length = security (1: light client, 2: wallet default, 3: exchange level) var key = function(seed, index, length) { ... return key; // private key }have your Private Key ready, whose length = security * 2187 . Private Key is partitioned into L distinct segments, where L = security * 27. So, each segment would be 81. Hash all segments as a whole. The product is called digest. Hash digest once. The product is called address.Seed ->…

IOTA: Multisig Explained

Multisig Transferring large amount of money, especially the ones that involve exchange level of security, it is worrisome to have only one seed be solely responsible for the transfers. Multisignature is used to send secure transfers by asking for several co-signers. Even though multisig transfers are created in a way different than that of ordinary individual transfers, when attached to tangle, it appears to be no different, and people cannot distinguish multisig-ly attached transfer(=bundle) from others. Thanks tangle! You…

Semantics, headlines that sell and why The Next Web did not find a vulnerability in IOTA

TL;DR In a nutshell, somebody with absolutely no track record in the cryptocurrency space has deliberately created transactions which are insecure by design. He then forged his own, insecure transactions. The Next Web frames this as research to capitalize on clicks and does a huge disservice to its readers and the community at large. This could have been an article about journalistic integrity. Or about the growing trend to publish boldly exaggerated headlines to capture the ever decreasing attention span of an Internet…

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