IOTA - Simply Explained
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- Опубликовано: 25 дек 2017
- How does IOTA's tangle work and how does it compare to a traditional blockchain like the one Bitcoin uses? In this video I'll explain these topics in a simple way!
Correction: bitcoin was launched in 2008, not 2012!
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Its a shame how all these "TOP 5 ALTCOINS TO THE MOON!" channels have more subscribers than yours. You actually explain the tech behind the products people are just tossing money into without regard. Very happy to have discovered your channel today. Please keep up the good work in helping crypto investors learn, which will hopefully lead to more informed and thought out decisions being made in the long run.
it's a blessing to people not living in hype
Very well said
@@willglynn1231
Thanks
Moo
Yeah, the only thing most moon boys do is show graphs and say yeah this is setting up for something big. It's every single time. Maybe it's true one day but dang lol
best IOTA explanation summary i've found in a easily digestible manner. Thanks for making the video!
Excellent man, excellent! Please keep on making as many explanations for as many of the Cryptos that you value. These are the best explanations I have seen anywhere on the net!! Really brilliant and super simple! Fantastic work!
Tangle reminds me of the Chinese board game "Go", I know it's weird and completely different but for some reason, that is what I think of when I see Tagle explained.
Today, I discovered this channel and I love how easy it is to describe otherwise difficult subjects. I wish I could have discovered it earlier.
Your videos are simple to understand and well paced + digestable. Good on ya m8
Great explanation! Thank you for this.
It's the greatest video of Tangle explanation I've ever found. thank you for making the video.
Thanks for this awesome explanation!
Perfect bro, great job
The best channel on youtube to understanda crypto world simply. Great work.
you and your videos rock!! Keep making them, I'd pay for them If I had to
thank you so much. You explain everything very very clearly. Keep up the good work man !
Yeah this will solve all of life’s problems 🙄
I was about to say that it would be better if you can also mention the problems with these technologies, not only for Iota. Generally about all. For instance I think security wise Iota fails, it would be nice to hear your opinion as well but other than that great video again, thank mate!
This channel is really something, I like it! Really explain the potential of the projects from different dimensions. I hope it can produce more excellent projects, I will join after final decision and will donate if I earn from the project haha
Extremely clear!!!
simply explained and very good.. thanks a lot
Thanks a lot for the Knowledge share!! You are the best
Your really teacher u know how to transfer knowledge in simple and understandable. God bless u & u deserve more subscribers
Thanks for the video!
Marvelous explanation
Great videos on Iota and Cardano.
Can you do one on EOS and Neo please
Stil the best tangle explanation!!!
Thanks, very interesting. I will pay attention.
IOTA is Future.
2 years later, it just had an all time low
Nothing can come from nothing.
@@rawsteel6443 ethereum was low during 3 years
... And SafeMoon is partnering with them🔥
one year ago today. Great video!
Very well explained
The tangle is a great idea, but let's not forget that miners are there for a reason. They make sure that the amount of bitcoin in the system is more or less evenly distributed. Otherwise there has to be a single person or company that creates coins and that's where things get centralised...
Mining...(proof of work) is old slow tech and has now been proven to be a liability....a weak point in any Blockchain. A situation called a 50% attack is a term that has now become a dirty word in the world of Crypto. And now it is a mad rush to move on from the Mining (proof of work) to Proof of Stake (POS). With POS a person can stake some or all of their holdings, making more of that particular digital currency...thus making their holdings grow in a safer way than POW. As for centralization.....every digital currency and it's blockchain is centralized in the beginning. So, I really hate when people start saying how this project is centralized more than this other project.....as the digital asset becomes developed further down the line (road map) the goal is for the project to become Decentralized. So, that argument is a weak one at best. It just really depends on at what stage in the development process is a particular digital currency at, at the moment. We are so early to this asset class, we are at the beginning of the development of "internet of value" that most digital currency/blockchain are not even close to what they will be like in 10 - 20 years from now.
great video. Thanks
Thank you Sir..
Keep going, you well done
Simple, amazing explanation. I subscribed.
Quick question though : at the beginning you mention that it takes two edges to validate a site. Which I understand to mean two directly connecting transactions. When you discuss scalability at 4:46, the site on the far left only has one edge connected in blue color .. is it considered a confirmed site/transaction ?
great video!
Great Video
Very good video- IOTA is the future
Very nice! You should explain the RailBlocks, please!
Very nice combination of knowledgeable speaker and excellent presentation! Just wondering what software are you using fo animate your videos?
Hi, thanks for video, will you made a video to show how we can programming a tangle ?
Thanks!
So IOTA is all about touching tips? Count me in!
i see they woud have 3 big problems here (among many others).
1 - how you would decentralize/randomize who would be "judging" who - if it's not computing power and rewards (already excellent news) how they will define it? random within what? all the users? geographic location?
2 - how you will decide what has to get downloaded live on the "judging" tangles and what will be on the cloud all the time.
3 - how the algorythmn wouldn't be too heavy so that let's say, a mobile phone wouldn't be able to judge any transaction and how it wouldn't be too light so that it could be broken fast enough before new tips of the tangle come.
my best guess is that they should use random cryptography. the cryptography that the next tangle would use to confirm the two of the former should depend on an equation which would be a mix of two of the former blocks randomized by itself in a way that the own cryptography could understand and is updated constantly. so it would be really hard to fake because
1 old transactions would be old within seconds and really decentralized - so almost impossible to fake an old tangle
2 in order to fake a new tangle, you would need to get the right equivalency of both equations that would be on the next block, and in time.
anyway, i really believe this is by far the best idea out there.
i really hope they have done well on those 2 and a half years.
Nice video, i just coudnt undearstand 2 things. How can the network identify if a block is tampered and how the creation of new blocks are made wihtout miners?
Great video. May I ask... which software do you use to creat them?
Great video.
If we have a cryptocurrency over Iota...
How does Iota get created? And is it available in limited amount just like Bitcoin?
Awesome! Which tool you use for these presentations, I like the transitions!
I gues its after effects
Could you look at Fantom (FTM) with DAG?
If I am using a light wallet then am I still approving 2 transactions before mine goes through ? Or is the load balancing server doing all of that for me ? I have trouble visualizing this if my computer is not acting as a node. Is the server acting as a node for multiple light wallets ?
Hi @savjee can do a video about Proof-of-stake? Much appreciate
Awesome
A very clear video. But if IOTA worked as intended, wouldn't it have taken over by now?
Dear Savjee, Could you please talk about Nano (Raiblocks)? Thank you so much
Fantastic video and phenomenal coin, tech, and team. Hodl Iota
You should also do a video about HBAR's Hashgraph. Their concepts are quite similar.
Can you do the same for another Gen 3 blockchain - DFINITY?
Could you please do something similar with NXT, ARDR, & IGNIS ? Thanks.
1:12 the upper left site has only a single directed edge - if you are up to use the slides again ; )
Could you please do something similar for Raiblocks (XRB)?
IOTA doesn't have fees either. IOTA uses a directed acyclic graph while RaiBlocks uses a block lattice. They both don't use blockchains and don't have transaction fees. They have different methods of reaching consensus. In RaiBlocks, everyone manages their own private ledgers and transact with each other by creating a send transaction and the other party creates a receive transaction. RaiBlocks uses delegated proof at stake as its consensus algorithm. This means people vote for representatives. These representatives only act when there is an issue and conflicting truths. The representatives resolve these issues and are rewarded.
The comment that you left 3 months ago was not free to make--it took a little bit of your time, plus the electricity to run your device. However, there is a big difference between "it's not completely free" and "there is a fee." RUclips did not charge you or anyone else a fee to leave your comment, and in IOTA there are no fees. Is it completely free to use? Only in the same sense that RUclips is free to use. In fact, the costs are lower, since you never have to wait for an ad before confirming a transaction!
IOTA's tangle uses only a tiny, tiny, tiny fraction of the amount of electricity compared to mining bitcoin. Someone should calculate how many years the IOTA Tangle could run using the electricity consumed by Bitcoin in a day.
This is a bit of what is coming, the quantum protocol Tangle IOTA will drive the next industrial revolution, solving the biggest problems of the blockchain, some of the huge improvements of IOTA are: zero fees, infinite transactions per second, as that increases the number of users these are becoming increasingly faster and with greater security, artificial intelligence that continuously improves the decentralized economy of the Tangle of IOTA, infinite scalability, without the need for miners, a new financial system built to empower the future "internet of things", by 2020 this technology will be implemented for the creation of smart cities, such as the "Smart City Hackathon" sponsored by the car manufacturer Renault, IOTA is the new gold, blockchain was the beginning, now the technology tangle of IOTA will achieve mass adoption, I leave the data, everyone can investigate the matter.
Does that mean that if i send some iota from my phone, my phone will do quick "mining" and verifies somebody elses transactions?
Is this guy Great Scott?
Akash Deshpande that was also the first thing I thought
3:40 shouldn‘t the lower node with an edge to the node with cumulative weight 6 have a cumulative weight of 4?
Very well explained, as in all of your videos (i loved the graph theory!!!) But one question stays in my mind: Where do all the Computers come from, that operate the system, if nobody is paying them ...
Well everyone who wants to make a transaction has to approve 2 other transactions. That's what makes the network run.
Aaaaaaaahhhhh .... of course ... thanks for clarifying
Can you do on Ripple and XRP? Also although size is reduced because you don't need the whole "blockchain" eventually when the network becomes large enough and grows enough to have large amount of transactions, IOTA will face the same issue correct?
I will research ripple! Thanks for the suggestion. In theory iota is better equipped to handle large amounts of transactions. But I'm sure it's not a silver bullet and problems will surface once it reaches a few hundred tx/second
2:00 Those tx are not yet confirmed. They have only ONE incoming transaction only. You need two TXs to confirm one TXs
Im still a bit confused... If there are no miners? Are the transactions doing the mining?
On IOTA the device making the transacion does the mining. Note that the marketing of this coin is targeted for IoT devices, which in general are low processing power devices. Thats why they have the Coordinator, which is a trusted node, run by IOTA fundation, which prevent double spending. Until they turn off the Coordinator, it is a centralized coin. They say one day they will turn the Coordinator off, but I really doubt that, low processing power devices are not enough to keep the network secure.
Error at 3:50 min: The transaction at center right should have a weight of 4, not 3.
right? I thought so too
YES， I was wondering that ，thank you bro~~
If wich one validates our transaction, how is it possible to validate two more transactions?
Do substratum
Which incentive would nodes have to validate transactions if they get no transaction fee or anything of the kind?
And how does iota prevent double spending? Wouldn't I just need to make a payment to two tips with enough distance to each other?
There are no incentives. If you want to create a new transaction you have to verify 2 other transactions. So the incentive is: you cannot create transactions unless you verify a few.
Double spending is preventing by requiring people to verify 2 other transactions for each new one. Additionally IOTA uses a coordinator which checks transactions and locks the Tangle at certain intervals.
I must have missed something. Is there incentive for participation? Maybe lite weight, but without incentive it won't be on my machine.
There are no miners so there is no need for incentive for that. Transacting is participating.
@Savjee would you allow me to use some screenshots from your video for a presentation at school?
If you reference my video, yes!
Savjee thanks a lot! Wrote links to your channel and video onto the prezi presentation (sadly in german language).
All the people who commented 3 years ago might be rich by now, well played
If no miners are there, then who maintains the nodes ? Who adds the transactions ? How is it decentralised ?
and hashgraph?
More coins please!!
Missing the decentralization aspect, which is an important factor. But yeah, the functional description for newbies was well explained.
Oh, so that means a malignant user can't spam the network with transactions to cause congestion, because each of those transactions are helping the network by confirming 2 other transactions? Confirmarions aren't made by miners but by whoever sends a Transaction? Have I got it right?
Can anyone explain to me how transactions are "validated" WITHOUT checking a complete ledger like in traditional blockchain networks?
How is this different to Nano?
iota = dream
4:24 is that true?
Shouldn't you mention that IOTA's code is ternary, but needs to run on machines (it's developed to run on the IOT's) which are based on binary code and hardware based systems - thus all IOTA code has to be repackaged into binary, leading to massive storage overhead - apparently not as efficient as they would have everyone believe. In my opinion, this seems to be a valid criticism, so one will have to see how they prove themselves in real world transactions. Also how secure this very lightweight confirmation (compared to regular blockchain) network will turn out to be, once it starts being implemented. On the other hand, it does seem promising, regardless, they just need to address these issues.
No miner = no fees = free. Does it also imply that it has no block which creates no Blockchain here at all, but "transaction-chain"
How were the iota’s created? Are they all done being created?
The IOTA foundation started with all coins. It was 100% premined, but there are no more coins being created.
it wasn't released in 2012. It was 2008/ 2009.
but great video!
No mention of trinary in this video. The concept appears flawed, but I'm not as smart as the IOTA team and trinary author of the 70's.
I know IOTA, can you explain XDAG?
I like your videos but you should explain problems also. IOTA has a lot of problems even if it's faster.
LIke what? I'd like to know... Link?
Mahmoud Shehata you can find it in the conversation under the GoldsteinShekel comment
Thanks!
Yeah true.. Should've talked about the possible attacks and why the coordinator exists right now.
Savjee anyway take it as a feedback to improve. I really appreciate your videos but pros and cons are what really makes the difference between a good and a great content :) hope your best
Can’t work with just the information presented. What precludes double spending? Just need to make two transactions spending the same amount in two different “neighborhoods” of the DAG...
I still dont get where the history of transactions is stored... :/
if you bough IoTA in 2018 congrat! IoTa is rising up by 1% in 2021! best stable coin
Why IOTA network becomes faster when more transactions happen ，can anyone answer me??
How can there be no miners? Aren't miners necessary for generating more currency?
No they are not necessary - iota has a limited supply and all iotas are already on the market
I know this voive RC :)
Ripple next?
That's like saying "US Dollar next" or "Bonus points next". Ripple is a corporate centralized token, so who cares? No free advertisement for a corporation, please.
Still a cryptocurrency nonetheless, Im more interested in its recent growth, not its fundamentals.
MiccaPhone lol. triggered purist
and what about NEM (XEM) simply explained??
In my opinion, I think Hedera Hashgraph is better. Watch the explanation by Dr. Leemon Baird.
How come that sometimes in the iota wallet my balance is gone and when I connect to a different node it is back?
So basically, what I got out of this is that IOTA's "Tangle" system can be much faster in terms of transactions per unit of time, and it requires less memory, but it is much riskier and less safe than the blockchain.
Bitcoin wasn’t introduced in 2012 tho....