Did IOTA Coordicide just figure out the blockchain trilemma?
I was looking at some crypto news yesterday and I stumbled onto the IOTA project. How the hell I never heard of this before?
I am impressed by what they announced. Looks like they figured out the Blockchain Trilemma.
- Scalable
- Secure
- Decentralized
They pledge to be a free network with no fees, a faster network than any other blockchain and less power consumption due to the triangle that reviews the blocks.
I have to emphasize that this is just working in theory. They stated they might figured it out but actually, they didn't. Nevertheless, this is one of the most important projects that are out there right now. I can't think of a project which is similar to this.
In the near future, they will launch two public Test-nets to see if it is actually working. So keep your eyes open. Perhaps this is a bitcoin killer. Pay attention!
Check out their website and read the chapters. It does sound very promising!
Their website: https://coordicide.iota.org
Whitepaper: https://files.iota.org/papers/Coordicide_WP.pdf
Maybe we need some comments from more sophisticated techies like @intertia @edicted? What are your thoughts on this?
Interesting in a somewhat related venture are you aware of http://www.idni.org/
Pretty innovative and interesting concepts... admittedly over my head like everything except LEGO’s but I am intrigued by this and its language.. maybe more pies in the sky 😝
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Now I am aware. Looks also very promising.
Yes, totally. I think I understand it but I am not sure. :D That's why we need some techies that can confirm this concept. But as far I understand this, this is great! Welcome to Legoland!
For sure, to think a year ago I couldn’t tell anyone what a blockchain was. Now I’m in the rabbit hole 🕳 and have steem to thank for that.
If steem could become the landing spot for crypto 101 and become easier to navigate thus attracting morons like myself that just came to enjoy a censorship resistant platform I can imagine a promising future for steem and it’s developing communities.
I keep saying a glossary of terms and acronyms would be ideal for this place. DAO SMT EIP ICO DPOS POW you see what I mean by rabbit hole.
Any new user would see most of our posts as a foreign language ! Steem school, one of the things I like about steem is most of us treat this like a student/teacher situation where we all take turns playing whichever role is beneficial for evolving.
Lots of cooks in the kitchen though and most things get buried in the mess of it all with a content discovery dynamic that is extremely time sensitive and built around ROI...
Yes, me too! I start to see and to understand the whole thing better every day. I have to thank steem for that too. It's such a cool place. So many cool people on this platform.
Very true. I don't think there is a better place out there to learn the basics of a blockchain and all that fuzz that comes with it.
That would be worth a post, eh? :D
I was laughing about this because it's so true. Once I started on this blockchain I had no clue about anything these people were talking about lol. The learning curve is steep and I like that. I like new challenges. I wrap my head around this and try to follow and learn new things every day. It's so much fun.
That's true. But is there any place in this world where it is not working like that?
Well said all of it-I’m glad I’m finding like minded people here. The steep learning curve makes one really work for their voice to be heard, and I appreciate that challenge as well.
Yes indeed there’s no where that can hide from the “time is money mentality” that’s been the case since the dawn of economics.
Yea the glossary would be a good post sure, but, if somehow pertinent-general purpose information could be consolidated and easily accessible it would be more impactful. I’ve yet to figure out how such a directory could be built here. Currently, it takes dedication and hours of daily dilly dallying to navigate steem and trust me that doesn’t impress my wife at all hahaha.
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Aho!
I was fighting this for a very long time. But eventually, I realized that I just sabotage myself. I recognized that working with the system is much easier and more fulfilling than working against it. There's a balance in everything. I think I finally found it.
I don't say follow everything blindly and accept anything that someone is saying. I still question everything and try to make it work according to my lens, world view, ethics or whatever you wanna call it.
Yes, very true. A browser PlugIn where you can search terms would be a pretty neat feature?
That's the terminology that was evading me, a browser plug in! Boom! Add it to the EIP LMFAO
Haha!! Yes, let's add it to the EIP. But the real question here is, would that work in a DPOS System?
damn bro, you have been hiding out in a cave there in India, if you just heard of Iota! lol!
Yeah man, I feel pretty bad about that. How could I miss this? lol. But the Coordinator is a new thing. I didn't miss that! So I feel kind of reconnected. It's time to leave haha :D
I will be hearing about this project for the first time
Look it up it is very promising!
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