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What is your opinion on directed acyclic graphs DAGs and whether they can achieve the same level of decentralisation, security, and censorship resistance? DAGs are not vaporware, but the cryptocurrency projects using them mostly employ proof-of-stake PoS or proof-of-authority consensus mechanisms, which cannot be compared to proof-of-work PoW yet because they have not been tested at the same scale.
PoW in Bitcoin, with a thermodynamic cost, will be hard to bitcoin qa directed acyclic graphs dags and iota. We can begin to make real comparisons once it is no longer centralised. Altcoins and the scaling debate — https: The Planetary Scale Digital Monument — https: Divergent Evolution in Cryptocurrency — https: Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.
He is the author of two books: The Coo is NOT permanent. It is only there until the Tangle is big enough that it doesn't need it. The interaction would not be required on each and every transaction, just a 1 of N sampling of them.
However, the 1 of N sampling human assisted transaction would be a "key" to unlocking bitcoin qa directed acyclic graphs dags and iota actual payout from the full block of transactions, most of which are computer generated with a the 1 of N sampling human assisted proof of work based transactions.
There will be enough people that are sick of insanely volatile mining difficulty levels, getting hand-me-down ASIC's after the manufacturer's have drained the juicy part of the profits, or rapidly increasing GPU prices. These people won't mind spending a few minutes a day to help maintain a network protocol that uses such a POW algorithm with a little human interaction, especially if the ROI is really attractive.
HumanCoin or something like that. Well the tangle is one big mess — literally. IOTA sounds like a very expensive centralized testnet. Andreas, I got another serious question. Do you think "Tree Protocol" will replace or be an alternative to open blockchains?
Thx for ur services to the community. Sound familiar with what you said about POS years ago. I don't think so. I think your insight lacks its usual imagination. Bitcoin is gen 1 of crypto, like Myspace was, emotional connection to it does not mean it has right to be the only meaningful crypto currency. If anything, capitalism and competiton will be the end of it. Andreas, I respect your opinion, but you have not done enough research into IOTA ie they will turn off the "coordinator" at some point bitcoin qa directed acyclic graphs dags and iota then IOTA will be truly decentralised.
You definitely should look more into it! The idea here is to make the difficulty of solving the mathematical puzzle less difficult and produce more blocks and then introduce random selection by the protocol to select successfully verified blocks instead of waiting for longer chain to be formed. If this approach will work then it will achieve bitcoin qa directed acyclic graphs dags and iota followings: Faster speed and improve scalability.
More decentralization since you do not need extremely powerful mining hardware. Needless to say, this will create less incentive for miners since it is not enough to be only bitcoin qa directed acyclic graphs dags and iota, you need some luck as well since randomness is introduced.
However, still you need to be very fast in producing blocks to increase your chance of winning. Do you think such approach will be workable or it is completely nonsense for any technical reasons.
However I think there is one miss here: Also today there are initiatives to start bitcoin qa directed acyclic graphs dags and iota that idea. Hasn't Cardano's proof of stake system been proven at least peer-reviewed publication level of proof to be capable of the same immutability guarantees and level of decentralization?
All in all, DAG has not prove that it can scale. Ok, I'll take it. In theory, it should scale much better then BTC though. Its unfortunately a reason why more and more bitcoin maximalist talk about store of value and "digital gold" when they talk about open sourced software that is in nutshell a glorified excell table. They're a data structure. Andreas seems to think the nodes in the graph cannot be blocks, but they could be and you could have a proof of work as difficult as you wanted on them.
I think the main problem with this video is that Andreas went for a very generalized approach and that sacrificed some accuracy. Anyway, knowing Andreas Bitcoin qa directed acyclic graphs dags and iota can be sure he means well and that he'll do better research in the future to be as precise as possible.
What happens to coins that are mistakenly sent to a wrong address? I saw that in the App Store, the coinbase update says once the update is complete, they will no longer be able to recover incorrect address sends. Great vid as always. Dear Andreas, do you know Nano? We'd like to hear your opinion about NANO. IMO it has imutability garantees and is decentralized no coordinator. The only feature it aims to do is tranfer of value. Have a look on it. This is the core or true spirit.
Spanish subtitles are ready! This information must spread all over bitcoin qa directed acyclic graphs dags and iota world! Reinventing the wheel is the reason cars don't have stone circles but tires. I get a feeling there's some similarities here. All good tech needs to reinvent itself every now and then. As soon as the tech is sufficient to fulfill one need, reinvention and further development might not be relevant for the old use case but might open up new. If iota will prove to be this is the question.
I also see Byteball have a shot at some of the things ethereum do well. Follow up question on all of this. What's your opinion on this?. How bitcoin qa directed acyclic graphs dags and iota Nano former Raiblocks? On the surface it looks better than IOTA but it is also questionable what would incentivize people running nodes…To me, proof of stake is simply not resilient enough.
That's very interesting and enlightening. You can not trust an ICO. Because there is no proof that those coins were sold at all. I believe the majority of them is still owned by the project authors.
Sir can u tell us ur thought on monero and ring signuture,zero knowledge zcash,zenchash secure node etc. Yes with coordinator iota is somewhat centralized.
They are running simulations to see how much is needed and based on that they will determine when to turn it off. Coordinator limits tangle to about tps so it needs to be turned off at some point unleash the tangles true potential.
There is no reason to keel it in place after a certain point. But removing it too soon might risk users funds and nobody wants that. You are a very intelligent bitcoin qa directed acyclic graphs dags and iota, but you forget something very important in relation to IOTA: That is, another level in computer science and not just a DLT software.
Most DAGs uses weighted voting, or something similar, for conflict resolution. Similar to NoSQL distributed databases. Banks don't use NoSQL database to manage the currency for these bitcoin qa directed acyclic graphs dags and iota reasons. Centralised ACID databases are ideal for money management.
PoW single threads the transactions making it ideal for an adversarial public network protocol and removes those nasty edge case race conditions. PoW doesn't make sense on an operational aspect in the future, when you're scaling for yrs in the future and talking about petabytes of data being moved around. I wish he would have a blackboard. Some of this stuff just gets so buzzword heavy that I just can't follow it. First off, I want to thank you for the amazing resources you provide on YouTube.
I am able to learn so much from your lectures and discussions. I had no idea how messy the transition from dial-up to our current system actually was. And I love your comment about simulating the old banking system on bitcoin. I was wondering why the comments were disabled. I was hoping to read the comments to get some more perspective. Just wanted to ask why. Everybody needs to chill a bit. IOTA is in Beta still. We'll see if it works or not. Everything adds to the innovation.
Doesn't matter which particular coin does better.
