How does IOTA work?

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  • Опубликовано: 6 сен 2024

Комментарии • 627

  • @SirajRaval
    @SirajRaval  6 лет назад +364

    No one paid me to make this video. I just think IOTA is cool.

    • @abbaril
      @abbaril 6 лет назад +4

      That's kind of you.

    • @jat9292
      @jat9292 6 лет назад +3

      Hey Siraj, why do you think about Raiblocks? Its developper got the DAG idea first and actually it looks more promising than IOTA because it is really decentralized (iota use coordinator + self coded cypher non peer reviewed)

    • @JasonWhittle1
      @JasonWhittle1 6 лет назад +3

      Pretty cool video. I was expecting a little skeotisism about the network's ability to run securely without the coordinator. You must be confident it will not be a problem?

    • @marcelengelmann9605
      @marcelengelmann9605 6 лет назад

      You are awesome!

    • @MsgrTeves
      @MsgrTeves 6 лет назад

      Hi Siraj, Bitfinex is no longer supporting US customers. Any other recommendations?

  • @EPOCHEDM
    @EPOCHEDM 6 лет назад +9

    IOTA starts at 8:53

  • @MikeHermesNet
    @MikeHermesNet 6 лет назад

    Siraj!!!! Please accept my personal compliment. You are the guy who explain the Blockchain with the clearest concept on RUclips.

  • @marcelo55869
    @marcelo55869 6 лет назад +10

    I have a question: who stores data in IOTA?
    In BTC each miner stores the whole history of every coin...
    how are we going to store all this info in a network of small devices? They might even leave after getting their transaction done...
    who gets to coordinate where the data goes? For example, If it is stored in a distributed way like torrent, someone might leave with his part of information, the network will be left inconsistent... can someone explain how this is solved in IOTA?
    Will all the history be saved forever like in the blockchain? If old infomation gets deleted, after a snapshots for example, then how are we going to trace the transaction back in time to know the history?

    • @SirajRaval
      @SirajRaval  6 лет назад +1

      snapshots are taken of the history at regular intervals and the amount of data wallets have to access drops considerably when those prunings happen.

  • @TheSandy156
    @TheSandy156 2 года назад +2

    These are brilliant lectures. 👏👏👏. I’m sorry to see that you aren’t doing any new ones.

  • @LuisGonzalez-jx2qy
    @LuisGonzalez-jx2qy 6 лет назад +5

    I bought when it was at 0.8. If it wasn't for you Siraj, I would not have been able to understand anything regarding IOTA. Thank you for sharing your knowledge man :D You are awesome!

  • @richard9332
    @richard9332 6 лет назад +7

    if you have btc, eth, or ltc (or any other crypto currencies really) in actual wallets, you can to binance, deposit some coins and just trade it in for iota, it's a lot faster than depositing cash, i've been waiting for a video from you on IOTA, thanks!

  • @bobthebuilder6715
    @bobthebuilder6715 6 лет назад +1

    Scenario (This may be a dumb question/scenario, bare with me): There are 3 nodes in the network, one node makes a transaction but has to solve two transactions for it to have "proof of work" so that its transaction can be approved. Let's say there isn't any transaction at the moment except that one transaction. What will happen?
    Because to me, it sounds like there need to be ongoing transactions to approve transactions.

  • @GigaGoose123
    @GigaGoose123 6 лет назад +8

    I've been waiting for this!!!! I got into iota a long time ago and finally I'm starting to see my favourite people talk about it. Now I know it's going to be big!

  • @oj1997ss
    @oj1997ss 6 лет назад +3

    Siraj is that man who gives professional business presentations on a Jupiter Notebook

  • @EditaKim
    @EditaKim 5 месяцев назад

    I started to understand and learn IOTA a few years ago and made some games using IOTA. I am optimistic about the future of IOTA.

  • @arabelka
    @arabelka 6 лет назад +1

    All that is cool . But when i think back and forward... I would say that this currency is centralized .. How come you can verify ACID process ( account, balance, previous transaction etc.. ) with bigger scalability but no reference to check it with ? there must be some back door.... otherwise it make no sense for me. Can you pls explain ?
    Thank you million times !
    Michael

  • @carinonelson5627
    @carinonelson5627 5 лет назад +1

    Great video! I wasn't sure to invest on IOTA but you made it clear for me. It's an awesome technology. The World Trade Organization mention IOTA as one of the coins could Revolutionize International Business. Keep up the great Job!!

  • @walkingsight
    @walkingsight 6 лет назад

    Bought ripple xrp and stellar xlm years ago and iota this year. Thanks Siraj for your video!!!

  • @petermsamson
    @petermsamson 6 лет назад +7

    Ok, I just recently moved bitcoin between two wallets. It's not 10min it's more like 120min. I even lost the value of my bitcoin during the transaction process (bitcoin dropping in Value). Crazy, including a $27 fees on $197USD... LOL... Be very carful people..! IOTA is the future, not bitcoin..

  • @guilhermecaeirodemattos
    @guilhermecaeirodemattos 6 лет назад

    The explanation was a bit confuse, but worth it. One thing I would like to ask is: how hard is the Proof of Work IOTA uses? If we have something like the one in Bitcoin, we wouldn't get rid of the centralization problem, because the processing power required would be very high. Also, if it is something that can be processed in a smartphone, but that takes a long time to finish (in other words, something that takes more than a few seconds), people would still use faster, dedicated services, like Coinbase wallets, to store coins and create transactions, what would also lead to centralization.

  • @BUCK3TM4N
    @BUCK3TM4N 6 лет назад

    This was a great intro to IOTA. I thinks its time to read that whitepaper and dive deeper into this concept.

  • @veselskapravnicka5111
    @veselskapravnicka5111 6 лет назад

    As somebody who mines ETH and holds BTC, ETH and IOTA I have to admit that IOTA is without any doubt the best of them all. I think that Bitcoin can still rise 100 fold, but the basic concept of crypto mining is just ridiculous. Not even taking into account all the other cons of these cryptos.
    Siraj, I love your videos, please don't care about dislikes on this video, those are just from miners and people who heavily invested into classical cryptos.

  • @FuZZbaLLbee
    @FuZZbaLLbee 6 лет назад

    I share your enthusiasm, confirming other translations instead of mining is genius. And once the graph is big enough it will become truely decentralized.

  • @bigdaddy-481
    @bigdaddy-481 6 лет назад +1

    yeah I like the the tangle technology vs blockchain it solves the issue of transaction cost.

  • @LazarNevski
    @LazarNevski 6 лет назад

    IOTA is the blockchain killer. Only crypto project I felt comfortable investing in.

  • @alexandermyasoedov4564
    @alexandermyasoedov4564 6 лет назад

    Siraj Raval don't use sudo for pip install. It's almost 2018, you can either change permission for python's system-packages path or use virtualenvwrapper. Another option is pip install --user

  • @turboguzar
    @turboguzar 6 лет назад +6

    Siraj you rock! Now all miners, 'lovers' and traders will start ''showing'' us how wrong are you. Who cares, IOTA tech is the most important thing after all. And for that only reason you done it great!

  • @lukertmeyer
    @lukertmeyer 6 лет назад

    Quibble: BTC blockchain does not slow down as nodes are added; it adjusts difficulty so that the transaction speed stays about the same on average. Ability to speed up with added nodes is an improvement, if it doesn't compromise integrity.

  • @williamgetty1373
    @williamgetty1373 6 лет назад

    Siraj, you are great at explaining complicated matters.

  • @Muanh
    @Muanh 6 лет назад

    Small correction there wasn't a pre mine. The developers bought coins like anyone else. Money wen't to the foundation. Dom and David don't take a salary from the foundation, not sure if other founders take a salary.

  • @reymon2722
    @reymon2722 6 лет назад +2

    Great video, I truly think IOTA can be a big part of our IoT future!

  • @allurbase
    @allurbase 6 лет назад

    Bitshares has been tested to 4k tx per second which is 2 times VISA and also has a distributed exchange (DEX) maybe you'd like to give it a look. All the love from latam.

  • @sansyboy4181
    @sansyboy4181 6 лет назад +43

    Get ready for a wave of BTC hodlers to downvote this video. They don't really like innovation...

    • @SirajRaval
      @SirajRaval  6 лет назад +6

      haha this vid is getting downvotes like crazy

    • @Xsbt
      @Xsbt 6 лет назад

      LMfAO :D

  • @praveen_me
    @praveen_me 6 лет назад

    Siraj, you said you studied about IOTA just yesterday and how come you came up with such numbers?
    Can you please tell us your approach to how to use Google effectively? Especially when we are specific about finding something about ML, AI etc..

  • @weishenmejames
    @weishenmejames 6 лет назад

    Absolutely excellent IOTA primer Siraj!

  • @densnet
    @densnet 6 лет назад

    Now that people are getting to view more of technical sides about IOTA. :)

  • @ravisawhney3111
    @ravisawhney3111 6 лет назад

    Nice and timely video as I wanted to learn more about Tangle - good job Siraj.

  • @MrHmaamer
    @MrHmaamer 6 лет назад

    Hi Siraj! I think it would be better to have a video from your end regarding hashgraph technology which is a gaining a lot of attention in silicon valley and also which is a better alternative to blockchain tech. Thanks.

  • @jakemoriarty6129
    @jakemoriarty6129 6 лет назад

    I'm not the most technical person but, like many others, I'm learning a lot right now. My questions is this. Iota claims to be quantum resistant. If this is true why do they need the coordinator?

  • @mujina93
    @mujina93 6 лет назад

    IOTA and RaiBlocks best DAG coins for 2018! Even if RaiBlocks might really be the winner in the end. It can process more transactions per second than VISA and does not have centralization issues.

  • @mikelezhnin8601
    @mikelezhnin8601 5 лет назад

    At 10:48 Siraj says with more participants the confirmation/transaction times are getting faster, but that is incorrect, they just stay the same. It is still good in terms of scalability though.
    Also the picture with red and green nodes is kinda wrong - for example there is a red node with no incoming edges, so it should have been gray.

  • @lucprieur2567
    @lucprieur2567 6 лет назад

    Another excellent and entertaining video. Thanks Siraj.

  • @Helsingborg36
    @Helsingborg36 6 лет назад +9

    You don't need to buy btc to buy iota, eth for example can be much cheaper because of lower fees

    • @SirajRaval
      @SirajRaval  6 лет назад

      true

    • @come4pvp
      @come4pvp 6 лет назад +1

      or ltc that is faster and free. But u need to find a platform that trades IOTA/ETH or IOTA/LTC. Otherwise you could transfer LTC or ETH and sell for BTC etc..

    • @dutzendfakten
      @dutzendfakten 4 года назад

      @@come4pvp binance

  • @TheJysN
    @TheJysN 6 лет назад

    Bitfinex has a lot of issues lately with DDoS attacks. Their sign up function doens't work for weeks. An other trader you can exchange IOTA on is called Binance, just in case you can't sign up on Bitfinex aswell.

  • @MichaelShellGLPA
    @MichaelShellGLPA 6 лет назад

    Dear All - after reading a few of the comments I stopped not likely all the negatively. as the technology innovates we need to adapt new ways of thinking, communicating and being with each other. Let's start NOW!

  • @samacumen
    @samacumen 6 лет назад

    Hi Siraj. Thanks for the great video. Learnt some new things I didn't know about IOTA. Curious what all software tools did you use to create this nice video and which OS? Many thanks.

  • @chicken6180
    @chicken6180 6 лет назад +1

    i been ignoring these vids and just watching the ml vids but this shit is cool i gotta go back and watch all the cryptocurrency vids now

  • @finejustgivemeaname
    @finejustgivemeaname 6 лет назад +1

    Scalability will be addressed through “deflation”. As the price of bitcoin goes up, the transactions’ block sizes will be smaller.

  • @sonofdarvin
    @sonofdarvin 6 лет назад +16

    I always say, People will freak out when they'll know about the scalability issues of the Blockchain. Tangle is the best solution. But what do you think Siraj, is it valid to worry about IOT devices selling our personal data to companies?

    • @maticpetric5793
      @maticpetric5793 6 лет назад +8

      The idea is that the owner of the device will either sell or not provide personal data. The companies are going to pay the user for the data that will help them to improve the products.
      For example, a major problem in washing machines these days is that the energy lost through vibrations is not minimal. With the data provided by the user, the company will figure out the needed kinks to make a product better.

    • @dynamikelement
      @dynamikelement 6 лет назад +4

      Plus if you dig into it a little bit further. IOTA is also running the data marketplace initiative. The data marketplace is a huge project. The point being that in the near future, you will own all of your data. You can choose to sell different aspects of it on the marketplace. Meaning google and facebook are no longer the data kings. 2017, more data collected this year that the last 5000 combined. 99% is wasted and that little percentage that is used goes toward feeding people consumer goods, inflating egos and fueling bias.

    • @SirajRaval
      @SirajRaval  6 лет назад +1

      what matic said

  • @abdellahh8991
    @abdellahh8991 6 лет назад

    Siraj Raval, Thank you for your amasing informative Videos, i wanna ask you what do you think so, what will be the next biggest currency? and what currency do you recommend to buy now? i have already bought some of it (Iota, eth)

  • @MintMoar
    @MintMoar 6 лет назад

    Hey Siraj! Great great video! If you have the time can you do a comparison between IOTA and Raiblocks? Or just a video on Raiblocks so that we can see the differences?

  • @taylanbilal6652
    @taylanbilal6652 6 лет назад +1

    I don't understand the part about the "quantum attack". If quantum computers can try nonces faster, than miners will all use them, no? why do we need a mechanism to defend against that? did we need a mechanism to defend against gpus because they mine faster than cpus? if quantum computers become better at mining, so be it, we will just adjust difficulty.

  • @dani.ptgh2000
    @dani.ptgh2000 6 лет назад

    Thanks for that video! I am writing a seminar work for my school and this helped me a lot!

  • @stephenholmes9386
    @stephenholmes9386 6 лет назад

    Awesome video as usual.
    One thing I don't really understand is that if all the nodes have to verify transactions for theirs to be confirmed, surely this is a massive issue for using it on a IoT device? Most of them won't have a lot of computational power right?

  • @StillUp2Date
    @StillUp2Date 6 лет назад +1

    Great video Siraj, thank you for explaining this so well.

  • @LimLux
    @LimLux 6 лет назад +7

    The Chalmers University in Sweden is about to "build/make/create" the fastest quantum computer so far. I maybe should try to get in there and mine at nights.

  • @Burilo86
    @Burilo86 6 лет назад

    good video, you got like from me. One question though: why you didn't mention snapshoting and risk of loosing all IOTAs and also Tangle size (with difference between full node and light node)

  • @jordy1234
    @jordy1234 6 лет назад

    Hi Siraj, awesome video! What website are you using in the background? I would like to read through it!

  • @McMarvin42
    @McMarvin42 6 лет назад

    Hey Siraj, have you looked into EOS at all? I'm not sold on IOTA but EOS looks awfully promising to me. The more I learn the better it looks.

  • @DaveAhl
    @DaveAhl 5 лет назад

    found this IOTA video. it is related to your "problems with blockchain" video. Well done maybe update this video?

  • @justafterdark1177
    @justafterdark1177 6 лет назад

    You're the best, Siraj.

  • @light8258
    @light8258 6 лет назад +1

    Which system do you think will perform better, the hashgraph or iota?

  • @2500204
    @2500204 6 лет назад

    You sir 🍸 are too knowledgeable !
    Big fan

    • @2500204
      @2500204 6 лет назад

      Your Videos help me with my" learn about a new thing everyday" pledge

  • @loweryjk
    @loweryjk 6 лет назад

    Are there any other coins employing innovative techniques like this to address blockchain shortcomings?

  • @pypro
    @pypro 6 лет назад

    You have been hitting the GYM Siraj!!! haha nice video!

  • @adamfetters8019
    @adamfetters8019 6 лет назад

    Could you do a video on how to create a DAG cryptocurrency? Not sure if that's on your level, i'm trying to figure it out on my own, but apparently there is a learning curve:)

  • @UAslak
    @UAslak 6 лет назад

    You're a fucking trooper Siraj. I have to be honest. Thought you were a bit much when I first saw your videos, but you are outputting so much good content these days, and I must commend you for that. I love the new informal style by the way. RUclips is too polished.

  • @dudebroepicgamer4847
    @dudebroepicgamer4847 6 лет назад +2

    The video I was waiting for! Thank you!

  • @lucaslopesf
    @lucaslopesf 6 лет назад

    Raiblocks also uses DAG and it's descentralized

  • @danielkuo8729
    @danielkuo8729 6 лет назад

    Hi Siraj , Did you have make the tutorial , about how to build up the iri node in step by step?

  • @dieyoung
    @dieyoung 6 лет назад

    Current average cost per tx in BTC is 221,480 satoshis which, at the current market price, $31.71

  • @dieyoung
    @dieyoung 6 лет назад

    What about the fact that they computation is ternary when all the IoT devices they plan to talk to are binary?

  • @EctoMorpheus
    @EctoMorpheus 6 лет назад +2

    I think Bitfinex isn't the one to do, because they currently do not allow anyone to create an account :/

  • @passingthetorch5831
    @passingthetorch5831 6 лет назад

    The "coordinator" should have been replaced by miners who produce a topological ordering of the DAG --- rewarding them with coins, of course. There is no way to get rid of some coordination to produce "checkpoints" --- because the scale of the DAG will be more than small machines can navigate. I.e. it doesn't scale.

  • @ajones1274
    @ajones1274 6 лет назад

    Haven't watched the whole video yet, so I'm not sure if you've mentioned it yet, but hashgraph seems promising too and i think it has a working product

  • @alirezagh8374
    @alirezagh8374 2 года назад

    love ur video, so many inormations thanks

  • @keithmclean7603
    @keithmclean7603 6 лет назад

    Can you do a video on ITC? It's been rising quite a bit over the past two weeks.

  • @aij06
    @aij06 6 лет назад +2

    Right now costs me $26 dollars to send $24 with bitcoin. Ripple and Stellar already scale nicely with lower fees. I like IOTA to but we'll see who wins 2018.

  • @kkaluger
    @kkaluger 6 лет назад +1

    absolutely beautiful video. So well said my friend...keep up the good work.

  • @RedShiftedDollar
    @RedShiftedDollar 6 лет назад

    Wouldn’t it be great if the proof of work task was a productive distributed supercomputing task like calculating for BOINC projects?

  • @dhrumilbarot1431
    @dhrumilbarot1431 6 лет назад

    How do you prepare so fast man I think you should also make a course on making education vids on YT

  • @Gman7953
    @Gman7953 6 лет назад

    Was afraid of the clickbaity title, but the video is so much more than that ! Thanks for the insight ! Can you release that document you used to do this video ? That would be greatly appreciated !

  • @vikasr111
    @vikasr111 6 лет назад

    Most thorough explanation I came across so far. Thanks for putting up the effort and great work. Is there any way to access the notes you go through in the video? Do you upload them anywhere? It can be a great reference.

  • @crypticnomad
    @crypticnomad 6 лет назад

    I will read the white paper and do my own research but I think this would be a very useful question. When will the coordinator be phased out and is it opensource? If it is open source where is it?

  • @domnote
    @domnote 6 лет назад +1

    But why would only 1 person have a quantum computer?

  • @SLiCeDx
    @SLiCeDx 6 лет назад

    Awesome video. Please put an update on the video letting people know that you do not need bitcoin to buy IOTA. You can also use Ethereum and litecoin. Also,for people in the U.S, Binance is the prefered platform.

  • @Verrisin
    @Verrisin 6 лет назад

    what prevents it from branching?

  • @dannalicious
    @dannalicious 6 лет назад

    Thank you so much for this tutorial!!! You are awesome!!! 😍❤️👌🏻 time to buy iotas!!

  • @MusicGodAndMyLaptop
    @MusicGodAndMyLaptop 6 лет назад

    Maybe put a link to Binance in the description, as Bitfinex has started this need for invite?

  • @jaflolara
    @jaflolara 6 лет назад

    Never heard of this but sounds like ISPs are going to own/control this market. Let's see how this plays out once ISPs start throttling/filtering/blocking connections.

  • @davidmigloz
    @davidmigloz 6 лет назад

    A 51% attack doesn't allow you to double spend successfully permanently. Taking over consensus is not enough because cryptography cannot be changed. If transaction T1 and T2 conflict, that means they will always conflict. So if T1 has confirmed, one year later a node can't try get T2 confirmed, unless he redoes an entire year of blocks, removing T1 from the history.

  • @midsummerstation3345
    @midsummerstation3345 6 лет назад

    iota is future , future is iota

  • @jazzpote4316
    @jazzpote4316 6 лет назад

    Awesome. Would be cool to do the same with Hashgraph, how does it compare is not very clear to me

  • @MrBroggolinb
    @MrBroggolinb 6 лет назад

    Could you make a video about the burst coin blockchain?

  • @ravishankar2000
    @ravishankar2000 6 лет назад +1

    Great job Siraj....keep making great videos

  • @martialarm
    @martialarm 4 года назад

    When your next $IOTA video? What about one on HEAT LEDGER?

  • @TheSoham24
    @TheSoham24 6 лет назад

    Nice .. but apart from cryptocurrency, blockchain community is evolving under hyperledger with Linux foundation which will surely overcome current limitations

  • @andreleohoffmann
    @andreleohoffmann 6 лет назад

    what is your view on Hashgraph? vs IOTA (DAG)?

  • @martinhyska1206
    @martinhyska1206 5 лет назад

    So when i understand well, IOTA and same base coin are on centralized network? Does only central server hold DAG graph and all transactions goes through? If yes, so its probably improovement cental bank system, not a bitcoin.

  • @kloudmuka
    @kloudmuka 6 лет назад

    Apparently it's not purely driven by tech. Anything with a "How to buy" ending always needs to be dealt very carefully. Nowadays people can be easily incited with some concept they never heard of before, but they never put any effort into studying if it's true or not. (but of course, in terms of IOTA, you can try your luck)

    • @kloudmuka
      @kloudmuka 6 лет назад

      What's more, as far as I know, Markov and Monte Carlo method is applied to a non-directed graph, but the DAG is directed one, so I don't know if this so-called network has a solid foundation.

  • @wernerderchamp
    @wernerderchamp 6 лет назад

    Bitcoin is over 20 dollars in fees at the moment, if you want your transaction to get accepted fast. If you are fair with waiting up to two hours, you are fine with 10 dollars, if you go below 4 your transaction might not get confirmed at all

  • @mpedzi031
    @mpedzi031 6 лет назад

    Awesome videos man, very informative. I appreciate you taking the time to post these. I do have one question. What made you go full chipmunk at 9:35.?

  • @Maxxxxi86
    @Maxxxxi86 6 лет назад

    Very good video! Thanks man

  • @blained627
    @blained627 6 лет назад

    great Video! The technique behind IOTA is fascinating and I guess it will be the future.