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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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