IOTA Weekly Summary 11th-17th December

I'll be making a summary of the most important news from the past week I read about IOTA. I've invested most of my portfolio into IOTA, so I might be subjective to the good news.

Monday 11th December

Deutsche (GERMAN) bank : “IOTA has solved the fundamental problems of blockchain”

The IOTA foundation, located in Berlin has revolutionised IoT*. IOTA represents a third generation of Blockchain after the development of Bitcoin and Ethereum were developed. It actually isn’t a simple blockchain anymore, but rather a completely new concept.

The scale problem is solved through a new developed structure. Instead of a chain the blocks are processed in parallel strands. A transaction is processed after being confirmed by several participants (not miners like Bitcoin). There are basically three steps during a transaction:

I have to confirm a minimum of two transactions (the software does this automatically, unlike miners for Bitcoin).
These two transactions must be verified and checked (also done by the software).
The authentication is processed through a nonce (number used once)*. This guarantees spam protection.

IOTA has solved the fundamental problems of blockchain, because it is scalable and does not cause any costs. The problem is, that this payment system only works if cryptocurrencies are compatible with each other, because IOTA does not have blocks and chains.

Tuesday 12th December

On Tuesday there were some tweets thrown around :

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Also on Tuesday, the IOTA Chicago Meetup happened, you can find many youtube videos of the people who talked there, but they are low quality and I feel like the IOTA team needs a production team for these things.

Wednesday 13th December

Kirke Borne (spent nearly 20 years supporting NASA projects, including NASA's Hubble Space Telescope as data archive project scientist, NASA's Astronomy Data Center, and NASA's Space Science Data Operations Office. He has extensive experience in large scientific databases and information systems, including expertise in scientific data mining) tweeted this:

On Wednesday, IOTA (MIOTA) cofounder Dominik Schiener clarified the misconception regarding the relationship between the IOTA foundation and Microsoft. While many had been led to believe that the two institutions had started a partnership, Schiener explained that no such announcement had been made. In an interview with The Next Web, Schiener explained that none of the companies in the data marketplace is a partner. Instead, he referred to these companies as participants.

Thursday 14th December

The biggest read of Thursday was this post :
https://www.psychologytoday.com/blog/mind-in-the-machine/201712/how-fear-is-being-used-manipulate-cryptocurrency-markets

It's an absolute must read for anyone in crypto. The author posted it in r/bitcoin and got banned from it, says enough...

Also the IOTA meetup at Microsoft France happened, again you can find many youtube videos but the quality is just horrible. It's a good listen if you are not watching the actual video.

Friday 15th December

There were some tweets about IOTA being part of Industry 4.0 (Industry 4.0 is a name for the current trend of automation and data exchange in manufacturing technologies. It includes cyber-physical systems, the Internet of things, cloud computing and cognitive computing. Industry 4.0 creates what has been called a "smart factory".)

Dr. Rolf Werner - Fujitsu Head of Central Europe

Saturday 16th December

Official blog.idota.org posted this

IOTA’s Data Marketplace: Setting the record straight - https://blog.iota.org/iotas-data-marketplace-setting-the-record-straight-576fbf0b4513

It's a very good read, clears up some things and also stabilizes things.

They also welcomed a new member of the team :
https://blog.iota.org/welcome-edward-greve-to-the-iota-foundation-dd3a63942a91

Sunday 17th December

Dominik Schiener wrote this

Dom just said on Slack that in the future there will be no need for manual reattach/promote as this is going to happen automatically.

Also I liked this post Conceptual IOTA Use Case - Smart Home | :

That's about it for this post, thank you for your time and the current price of IOTA is $3.58 on coinmarketcap.