IOTA founder David Sonstebo has announced updates and upgrades to the IOTA protocols last August 09. According to David’s statement, “IOTA is not only the first project to go beyond the blockchain, get rid of tariffs and resolve scalability, it was also the first DLT project to combat quantum security and focus on needs According to the IOTA nature of being at the forefront, a new hash function called Curl, based on the construction of the SHA-3 / Keccak sponge, had to be built, “he said.
Updates are in progress and a new version of Wallet has been made available to all network users who now need to update their SEED (private key) to gain access to the balance in the new version of the wallet, those with Exchange balance do not need to do anything . Among other functions, the new updates have reinforced the network security protocols and functions for off-line transactions that can be performed within the Tangle network. A step by step, for the process of Wallet and Seed was made available on blog.iota.org
Recently the Blog Tangle announced a team of partners that has been working along with in the development of the network and in applications for the network Tangle. Among the partners the highlight is Microsoft, Bosh, Cisco, Harvard University, SatoshiPay, Lancaster University, among others.
What is IOTA?
IOTA is a criptocoin, in development since 2015, and ‘launched’ in the market in the first half of 2017. It is suitable for the realization of free microtransactions and optimized for the Internet of Things (IoT), which, unlike the complex and heavy structure of Bitcoin and other blockchain-based coins, was created to be as light as possible, hence the name “IOTA” which emphasizes its main vocation, which is to serve IoT, Internet of Things. IOTA is a totally different technology from all the existing currencies, and represents a radical change of paradigm. It is a criptomoeda that does not use the blockchain, thus managing to solve the limitations of the coins that have arisen from Bitcoin.
Among the main features of the new IOTA network that dispenses with Blockchain are scalability, zeros fees allowing micro and nano transactions, resistance to quantum computations. Another great advantage, an innovation of IOTA, is that not necessarily a node needs to be connected to the Internet to work in sync with the network, since nodes can be interconnected in a variety of ways, including bluetooth, for example.