IOTA: Trinity Desktop 0.5.0, Survey for services, KPMG opinion, New YouTube show
Biweekly update 4th May — 20th May
Since our last biweekly update, IOTA has not done big deals. However, its developers released Trinity Wallet Desktop 0.5.0 update and there is a lot of new features and bug fixes. Furthermore, there are many social encounters as usual for IOTA. For instance, IOTA has created application form for every entity like Businesses integrating the IOTA Token into their products and services, Institutional investors interested in IOT and DLT technologies, Financial Institutions interested in using IOTA, Smart Cities leveraging IOTA and/or the IOTA Token, Businesses who will provide liquidity for products and services leveraging the IOTA Token. Also, IOTA started HelloIOTA Roundup, show which contains news about IOTA and ecosystem projects. Should be noted, KPMG, one of the biggest audit companies, admits that IOTA is one of the most important crypto companies around the world along with projects such as Bitcoin, Ethereum and Ripple. Danish and Italian news resources also think that it is — they all like the partnership between Jaguar Land Rover and IOTA what we wrote two weeks ago about. Furthermore, IOTA shows us its stable social activity growth. To conclude, IOTA is ongoing their evolution to become the most successful blockchain project.
Development is ongoing. Commits on public GitHub appears regularly, several times a day.
A lot of features has been added. Furthermore, various other bug fixes, there are changes and improvements.
We are in the midst of a sustainability revolution where many companies from designers, producers to transporters are changing their operations to deliver better and more sustainable products. But for the consumer it is still impossible to learn about the provenance of your specific garment and most information is based on a mix of marketing and corporate sustainability reports — as opposed to transparent information. Thus, it is with excitement that the IOTA Foundation is delivering our piece to the puzzle in this multi-stakeholder effort to give consumers full transparency.
By scanning a label with their smartphone, consumers can view the garment’s “journey” and track it back from creation to the rack and point of sale. They can also confirm the authenticity of the product, along with its sustainability credentials. Brands will have full visibility of their product’s journey throughout the supply chain, giving them access to data and statistics, via IOTA’s distributed ledger, across different sales channels and consumer preferences in real time.
Distributed Ledger Technology is a team sport
IOTA delivers one of the key features needed for secure and trustworthy end-to-end provenance solution: data integrity to ensure that information at no time can be compromised.
Other actors are providing equally important features as the supply chain for producing a T-shirt consists of many players:
1017 ALYX 9SM is a cutting edge fashion label dedicated to designing and producing with high quality materials.
Avery Dennison is a global leader in providing end-to-end solutions in the apparel and footwear industry as they provide graphic tickets, tags and labels, embellishments, packaging solutions and woven components etc.
EVRYTHNG is the market leading internet of things SaaS platform for consumer products, managing billions of unique digital identities in the cloud for data science intelligence on an item-by-item basis.
How does it work?
The solution basically consists of a number of elements provided by each of the partners. Initially the garments are digitally activated at source and given a serialized QR code with a digital identity in the EVRYTHNG cloud. Supply chain data is collected by different supply chain members driven by Avery Dennision and stored in the EVRYTHNG cloud.
Data is written to, and validated on, IOTA’s Tangle to ensure immutability. Consumers can scan the QR code on a product at point of sale or post purchase to see trusted provenance and authenticity. Furthermore, an analytics and reporting dashboard provides end-to-end product and engagement data for ALYX.
The twelfth episode of Untangled is exploring how we can restore the quickly disappearing forests of the planet and how we can build new sustainable systems to provide a good life for both animals, plants and people.
Willie Smits from the Masarang Foundation in Indonesia is talking about his efforts to rebuild the rainforest on Borneo after it was devastated by the palm oil industry.
And Jan-Peter Doomernik, Enexis, and Sam Butler are giving insights on how to create new and out-of-the-box ecosystems from the Odyssey Hackathon that we visited for the last episode of Untangled.
For the individual user, acquiring IOTA tokens is as easy as logging onto a digital asset exchange, buying IOTA, and sending it to our open source wallet Trinity. While simple, this workflow may not be appropriate for organizations, liquidity providers, or large token holders. These groups may require tools that protect them from theft, mismanagement or legal exposure while using and storing digital assets. These onramps must be created in partnership with established, regulated service providers in order for all participants in the IOTA ecosystem to thrive.
As a first step, IOTA has started to engage with regulated custody services and liquidity partners in order to support organizations and institutional investors using the IOTA Token. As more businesses incorporate the IOTA Token into their products and services, it will be important to provide a regulated mechanism to store and exchange IOTA Tokens. Examples of entities that would use such services include:
- Businesses integrating the IOTA Token into their products and services.
- Institutional investors interested in IOT and DLT technologies.
- Financial Institutions interested in using IOTA.
- Smart Cities leveraging IOTA and/or the IOTA Token.
- Businesses who will provide liquidity for products and services leveraging the IOTA Token.
- Community members that wish to hold their IOTA with a regulated custodian.
Everybody who is interested in IOTA can complete typeform to help ensure their partner with the best solutions for IOTA community.
- HelloIOTA Roundup #1: #IOTA x Jaguar Land Rover, Austin Smart City, DWF, Blockchain for Refugees
These weeks events:
- TNW Conference 2019 — IOTA — Dominik Schiener — Networks of trust in a connected world
- IOTA Smart City contest on Hackster.io was over on April 27th, 2019. The winners was selected on May 11, 2019. $10,000 USD in prizes.
While IOTA had a number of wonderful entries, IOTA team was unable to award all of them in this contest. Instead, they are displaying all of the entries that used IOTA in the contest on an IOTA only hub on the Hackster website. This hub will display projects from across Hackster that are tagged with ‘IOTA’.
Since the contest, the hub has had over 11,000 views and become full with projects that are easy for developers to follow along with. In the coming year IOTA expects the hub to fill up with even more projects as more contests are run on the Hackster platform. See the IOTA Hub.
- IOTA Enabled Solid-State Switch and Power Meter
- Weather Station & FPGA Device Talking via the IOTA Network
- Indoor Air Quality and Garbage Monitoring System
- Air Quality Sensor + Masked Authenticated Message Broker
- Weather Station & FPGA Device Talking via the IOTA Network
- Mobile Air Quality Module // Democratizing Public Data
BiiLabs — Blockchain Industry and Innovation Labs — is based in Taipei and has been one of the earliest adopters of the IOTA Directed Acyclic Graph (DAG) technology.
Since there has not been much visible IOTA activity in Japan of late, we are excited to welcome Co-Founder & CEO Lman Chu and his team for a presentation and educational Q&A.
IOTA has accepted the opportunity to sponsor the first inaugural Texas Smart Cities Summit, and will be hosting a working group session and more while it’s there. This event is going to provide a fundamental jumping point for the state of Texas, and as a result the United States, by bringing together thought leaders, policy makers, designers and developers to develop plans & priorities to accelerate smart city efforts across the state of Texas. The IOTA Foundation looks forward to assisting the organizations in understanding the role of distributed and open data in making informed decisions, and how the landscape of a smart city is a vital point for enabling that informed decision making at scale.
Tuesday, May 21st, 2019
8:30 AM — 5:00 PM | Presentations & Forum
5:00 PM — 7:00 PM | Networking & Expo
Austin Central Library
710 W Cesar Chavez St Austin, TX
Texas Smart City Summit Online Details:
Event URL: TexasSmartCities.org
Event Eventbrite: https://texassmartcitiessummit2019.eventbrite.com
Event Hashtag: #TexasSmartCities
Information from Thetangle.org (May 17th, 2019):
- IOTA is now available on CoinEx
- Trinity Wallet for iOS, Android, Windows, Mac and Linux. Currently in open Beta, yet fully functional (see Development Roadmap). Desktop version was released into Beta on August 25.
- Stateless Wallet for Windows, Mac OS X & Linux. Semi-deprecated, yet secure. If you can, please use Trinity instead. Please also note that as of May 31, 2018, the old Android Wallet is deprecated and should no longer be used.
Research & Development Roadmap: Status of projects in progress at the IOTA Foundation.
Research: Projects still in the research phase
List and solve all the problems on the way to a Coo-less IOTA. This project is mostly theoretical, and includes threat analysis, mathematical modeling, simulation, and formalization of our consensus protocol.
- Spam prevention and detection
IOTA is looking for creative ways of dealing with FPGAs and asymmetric PoW. They are examining various options, mostly around the idea of throttling noisy neighbors. Their aim is to isolate spammers and protect the rest of the network.
- Automatic peer discovery
Given the community input and various ecosystem projects, IOTA is taking a closer look at the security implications of auto-peering. Although this is a complex research topic, it is important for the team to formulate a well-founded position on this matter, and carefully assess the risks involved.
- Economic Incentives
Continuing the recent efforts of Popov et al with their Nash Equilibria work, the team is analyzing the IOTA incentive model using increasingly more realistic game theoretical models. This incentive analysis plays a fundamental role in understanding the Tangle behavior and its stability when deployed at scale.
- Consensus Algorithm spec
IOTA is working on detailed spec of the Tangle consensus algorithm, building upon the foundation set by the white paper. The main purpose of this doc is allowing public peer review of the algorithm.
- Cryptography spec
This spec details all the cryptographic elements of IOTA: the hash functions, signing schemes, and threat model assumptions. The purpose of this document is to provide a basis for a public peer review and audit.
- Attack analysis
This project is related to the Coordicide efforts, and involves analytical and numerical analysis of various sorts of attacks, from the simplest side-chain double spend to the more complex thug, parasite chain, and splitting attacks. IOTA is working to get numerical estimations for the cost of attacking the network, and making sure the price tag stays prohibitively in the post-Coordinator world.
Engineering: Projects under active development
While a number of exchanges have had great success integrating IOTA, it is certainly not the easiest task in the world. Hub simplifies exchange integration of IOTA so that IOTA can be listed in weeks, not months.
The IOTA Reference Implementation is the de facto model for running an IOTA node. It is the place where both community and Foundation engineers meet and collaborate to improve the Tangle, and the focus of IOTA network target.
- Coo-free IRI
As it stands, IRI does not support the Tangle as described in the white paper. In order to support alternate consensus mechanisms, the current approach to consensus must be abstracted out so that it can later be replaced by a fully distributed mechanism. This project is separate from, but closely related to Coordicide, and this separation allows us to work on different parts of the problem in parallel.
Enable smart contracts, oracles, and outsourced computation on the Tangle.
- Local Snapshots & Permanodes
Some IOTA nodes care about the entire history of the Tangle, and some don’t. As the Tangle scales, it would become impossible for smaller nodes to keep up. Allowing for local snapshots and permanodes are the ‘two sides of the same coin’ needed to allow for either permanent and selective storage as required for a particular use case.
- C Client
Most existing client libraries are written in higher-level languages unsuitable for embedded devices. Since IOTA is designed for the IoT, it will ultimately be necessary to support small, low-powered, embedded devices, and C is the ‘lowest common denominator’ programming language for many of these potential applications.
While MAM already exists, it is missing a few key features and documentation. A formal specification and improved version of MAM leveraging public-key encryption is currently being written by the experts from the Research Institute for Applied Problems of Mathematics and Informatics at Belarusian State University.
Performance and monitoring tools such as TangleScope allow researchers, engineers and interested 3rd parties to gain deeper insights into the Tangle’s network capabilities.
One of the difficulties in developing for IOTA is waiting for Proof of Work results for every transaction. Additionally, small or low-powered devices may simply be unable to do PoW in a realistic timeframe. The PoWBox provides an example of how PoW may simply be outsourced to a more powerful machine, and demonstrates the flexibility of the IOTA protocol.
Since replacing Curl-P with the industry standard Keccak hash function, IOTA has enlisted the help of the renowned cryptography experts from CyberCrypt. CyberCrypt’s experts will take what they’ve learned from Curl-P, work to understand IOTA’s specific requirements, and design a better, more secure lightweight hash function specifically for the IoT.
You can also follow the development on IOTA Official Discord.
Partnerships and team members
News, articles and insight rumors:
- David on discord
- KPMG : As things stand, there are about 1,5001 different cryptocurrencies, of which bitcoin, Ripple, Ethereum and IOTA are the four most important.
IOTA is one of the most innovative cryptocurrencies at the present time. Its stated aim is to become the established currency on the Internet of Things (IoT) for autonomous payments between machines, and for the associated exchange of goods and services. In the future its progenitors envisage, every car, parking meter or refrigerator will have its own account. The idea is to facilitate the extremely fast processing of mass (micro)payments while keeping computing and costs to a minimum. Volkswagen and Bosch are two of several companies that have recently announced cooperative ventures with the IOTA Foundation. Compared to the cryptocurrencies discussed above, IOTA requires far more transaction processing for which “conventional, sequential blockchain technology” is not sufficiently scalable. IOTA is therefore based on a development that goes beyond the traditional blockchain approach and uses what it calls the Tangle. In pure mathematical terms, the Tangle is a directed acyclic graph (DAG) — a method that again gets by without miners. To be able to complete its own transaction, every “user” (read: machine or object) must validate two other randomly selected transactions. Each participant thus makes a direct contribution to consensus building on the network. Unlike in the conventional blockchain, multiple transactions can be validated and executed in parallel in the IOTA Tangle. This means that the IOTA network can process more transactions simultaneously, and can do so faster than with the other cryptocurrencies.
- IOTA on its way to the mass market
- IOTA in one of Denmarks biggest news sites. “… Here you will reward motorists to share data”
- IOTA in the top 4 newspaper in Italy: “Guadagnare guidando (e informando)…”
Active discussions on IOTA subreddit :
Social media metrics
Social media activity:
Social media dynamics:
IOTA community continues to grow, there is a constant increase in the number of subscribers of IOTA social media channels. However the number of subscribers of IOTA official Telegram chats slightly decreased these weeks.
Twitter — Official announcements channel. Average number of retweets is 50–100 for one post. Publications with 250–350 likes.
There is also a dedicated Engineering Twitter.
Facebook — Not active since 2019. 50–100 likes per publication, 5–10 shares.
Reddit — Threads with 10–30 comments, 50–100 upvotes.
IOTA Support — Subreddit for all IOTA related problems. 546
IOTA Markets — Subreddit for price speculation.
IOTA Stack Exchange — For the really tough questions.
IOTA Bitcointalk.org: since October 21st, 2015. Discussions on latest updates, price, social encounters etc. Last publication — on April 19th, 2019.
IOTA Family website — Basic knowledge for IOTA beginners such as: what is IOTA, how is it organized, how you can contribute, where you can buy $MIOTA on a onepager website, etc.
See also and IOTA forum.
The graph above shows the dynamics of changes in the number of IOTA Facebook likes, Reddit subscribers and Twitter followers. The information is taken from Coingecko.com.