IOTA Outlines Plans for Killing Off its Centralized ‘Coordinator’

The IOTA Foundation has revealed for the first time that it plans to gradually phase out the IOTA network Coordinator, which some see as a centralization risk.
In a series of posts on its official blog on this week, the foundation outlined a sequence of steps it plans to take before “Coordicide”, which it sees as a major landmark on the road to complete decentralisation.

IOTA Network Coordinator Origin

While IOTA is not a blockchain but a Directed Acyclic Graph (DAG), it does however employ a Proof-of-Work network security mechanism like a blockchain. This means that in theory, if a user were to command enough of the network’s hashing power, they could bend the consensus rules to do anything they want including double spending and network splits.  This was a particularly real risk for IOTA because unlike Bitcoin or Ethereum which have thousands of miners, the IOTA network’s hashing power was relatively small, meaning it would be less difficult for an attacker to gain control of it.

To forestall such a scenario, the IOTA network coordinator was created with a primary remit of preventing double spends. Known as “Coo”, the coordinator, which is controlled by the IOTA Foundation issues periodic transactions known as milestones. If any transaction on the IOTA network is not directly or indirectly references by a milestone, it is not confirmed. While this gives the foundation a certain amount of control over the network, it should be noted that it does not allow for transaction history to be changed or user funds to be accessed.

IOTA Gets Rid of Coo

According to the IOTA Foundation, while Coo has served its purpose well, in the interests of the long-term success of the framework, it is necessary to kill it off first of all because at least theoretically it permits the Foundation to choose which transactions receive priority, and also permits the Foundation to freeze suer funds by instructing milestones to ignore transactions involving such funds.

In addition, Coo provides a central point of risk because if it stops functioning or is taken over by a bad actor, all confirmations on the IOTA network would halt. Even more significantly, the need for milestones to confirm transactions works against the scalability of IOTA in the long term.

Despite the announcement, for now there exists no firm timeline has been given for the removal of Coo. A quote from the blog post reads:

“The short answer is that the Coordinator can and will be removed when our research team is satisfied that we understand the coordinator-free Tangle sufficiently.”

According to the Foundation, while it will get rid of Coo eventually, there is no plan to rush this through. The “Coordicide” project is the vehicle being used to ensure that all changes are communicated clearly and ahead of time as the Foundation begins the process of killing the coordinator, as outlined in a subsequent post.


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Bosch Doubles Down on IOTA Data Marketplace

One of the original participants of IOTA’s decentralized data marketplace, engineering and electronics monolith Bosch, has just upped the tempo with the 12th-largestcryptocurrency by market capitalization, explaining how its newfangled Internet of Things (IoT) device will play a vital role in the economy of the so-called “ambitious cryptocurrency.”

According to a post Monday by the IOT-focused arm of the German multinational, Bosch Connectivity, their Cross Domain Development Kit (XDK)—a “universal programmable sensor device” leveraging an armada of sensors to measure various ambient data including humidity, noise and light levels, and acceleration—will be now for the first time be able to simultaneously collect, upload, and sell data on IOTA’s decentralized data marketplace in fully open-source code.

Bosch Bullish on Data, Sees IOTA as Part of the Picture

Since being unveiled as a pilot program in November 2017, the Data Marketplace has been catapulted to become one of the MIOTA token’s prospective powerhouse usage cases—facilitating the purchase and on-selling of IoT data—a commodity the IOTA foundation maintains within years will become the “fuel of the future” collected by more than 75 billion devices.

Bosch, which reported $87 billion in revenues last year and has for decades nestled comfortably in the Fortune 500, seems to be equally bullish on the prospect of having a finger in the pie that is the fledgling, but burgeoning data economy.

Anticipating 20 billion connected devices by 2020, Bosch explained that it felt an affinity for IOTA’s vision of an “open and decentralized data lake that is accessible to any compensating party,” and closely mirrored the comments of the team behind the Berlin-based DAG, explaining:

Currently, data is mostly limited to the control of a few entities and not available for the broad masses. Therefore, not everyone can develop new use cases or business areas. Especially at this time when data is becoming increasingly important, IOTA presents a counterpart to the status quo with their Data Marketplace.

The German engineering heavyweight went on to shed light on how its flagship XDK IoTnode could double down on this shared vision—citing a number of potential use cases including data-monitored audit trails, and monitoring a machine’s operational status—visible to all stakeholders on IOTA’s Tangle.

Author: Jonnie Emsley
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IOTA Invited In The Frankfurt European Banking Congress – Friday 16 November

The Frankfurt European Banking Congress (EBC) is one of Europe’s most important congresses of the banking and finance sector.

Many high-level representatives from politics, business, finance, and academia  will speak in the Congress, among them Mario Draghi (European Central Bank, Frankfurt am Main) Tobias Adrian (International Monetary Fund, Washington, D.C.) Olaf Scholz (Minister of Finance of the Federal Republic of Germany, Berlin) etc.

Looking at the Congress speakers this year on their official page a young boy on T-shirt appears among the formally dressed speakers. He is Dominik Schiener, The Chairman of the Board of Directors, IOTA Foundation, Berlin.

IOTA will be the only cryptocurrency present in this high-level economy forum.

But what is IOTA?

IOTA is a distributed ledger to power the Internet of Things with zero fees. This ledger is based on a technology called Tangle.

In order to send a transaction in the network a user simply needs to perform a small computation task that verifies two previous transactions. In this way, every user has the same incentives and rewards into participating in the network. So in order to confirm your transaction, you must confirm two previous transactions, and then your transaction is confirmed by some subsequent transaction.

The Frankfurt European Banking Congress (EBC) will be held on Friday 16 November 2018.

A Reddit user named “mufinz2” commented on the news:

Of course it is. I’ve been watching this space for the past 2 years and I still haven’t seen any of the “leaders of this space” (namely btc/eth/ripple) do any kind of real leading. They are still filled with maximalists and speculation-driven fanboys that make zero effort to try to acclimate their technology with the real world. Meanwhile I’m just watching IOTA get headline after headline of companies, organizations and political entities wanting to work with IOTA and get educated by them on how the technology works and how they can use it.

This will be a great week for IOTA :

Thursday: Dominik Schiener at Wirtschaftsgipfel,

Wednesday: Tobias Zeitler at Electronica Messe Munich

Thursday and Wednesday: Hackathon in Linz

Friday: Dominik Schiener at European banking congress

Good work IOTA.-


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Weiss Ratings Reveals Top 8 Crypto Picks, Calls XRP, IOTA, NEO and Cardano ‘Absolute Steals’

Weiss Ratings is on a roll. In the midst of a new tweet storm, the company offers a look at eight of its top crypto picks in the current market.

The ratings agency, which has provided market research and analysis for consumers and businesses for more than four decades, says four coins in particular are “absolute steals.”

Weiss also points to Nano, Basic Attention Token, Stellar and EOS as four additional coins that it believes have a lot of potential.

The recommendations came alongside the agency’s bold prediction on the future of Ethereum and Bitcoin.

The company says it expects Ethereum to take a huge bite out of Bitcoin’s market share in the next five years.

Author: Daily Hodl Staff
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IOTA (MIOTA) – 5G networks are coming: Time to stock up on IOTA

IoT is slowly emerging as a technological advancement that will shape human life in the 2020s and beyond.  Machines are getting smarter, and in a few years, AI will be integrated in most aspects of human life. This explains why there is a huge interest in IOTA (MIOTA), due to its potential to be at the center of this revolution. It is already gaining in adoption in the mobility industry, by companies like Volkswagen and Audi.

But this is really just the beginning. The true revolution will come with the implementation of 5G networks. 5G will enable for the roll out of IOTA (MIOTA) at scale, since it has unlimited bandwidth allowing for uninterrupted connectivity.  Through 5G, it will be possible for machines to communicate with each other at scale, in networks that could work seamlessly across cities. It is through the implementation of 5G that the use-case of IOTA will become clear for all to see.

The best part is that 5G networks will become a reality sooner than most people can imagine.  Several telecom companies in the United States have announced they will be launching 5G networks in 2019. And with IOTA (MIOTA) making in-roads in the U.S, with possible partnerships with companies like Tesla and Uber, the launch of 5G networks could mark a huge entry of IOTA (MIOTA) in this market, and that will be a massive boost to its value.

5G networks will also unlock the value of IOTA (MIOTA) in the development of smart cities. At the moment, several smart cities are testing out IOTA. One city that could open up IOTA (MIOTA) as a revolutionary technology is Pangyo smart city in South Korea. This model city is implementing 5G networks, and will have sensors everywhere guiding self-driving vehicles in a complex and highly interconnected web.

In Pangyo, self-driving cars will be in a position to coordinate with each other and move through traffic. Once completed, this city will open up the idea of using IoT technologies in 21st century urban planning to other cities all across the world. It will accelerate the deployment of 5G, and push up the adoption of IOTA (MIOTA) in urban redevelopment.

The fact that IOTA (MIOTA) is gaining in adoption even before 5G networks are rolled out at scale is a sign of good things to come. Once these networks are rolled out at scale, IOTA will benefit the most since it has a head start in this market. It’s without a doubt one of the best investments in crypto at the moment, as 5G networks begin to take shape in 2019.

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IOTA [MIOTA] emerges as the winner in the vehicular applications feasibility test

IOTA [MIOTA] released a research paper titled ”IOTA Feasibility and Perspectives for Enabling Vehicular Applications” on 29th August, which discusses the possibilities of using IOTA Tangle as an underlying feature to enhance privacy in vehicular applications.

The paper authored by Paulo C. Bartolomeu [DETI, IT], Emanuel Vieira [DETI], and Joaquim Ferreira [ESTGA, IT] speaks about the very interesting Automobile Industry. Over the recent years, the automotive industry has undergone a huge shapeshift from what it originally was. Lately, industries and businesses have started migrating to the ‘much-talked-about concept’, the “Internet of Things” [IoT] where all small and big things referred to as ‘smart things’ are connected through the Internet.

The concept of IoT has been significantly adopted by the automobile industry in the recent past. The adoption brought forward the idea of ‘Autonomous Vehicles’ [driverless/self-driving vehicles]. The transition has been very notable. The paper stated:

“Vehicles became autonomous and (wireless) communications have evolved to provide connectivity with quality of service and flexibility tailored to enable such applications.”

It further explained:

“The future of transport and mobility will surely be enabled by autonomous vehicles encompassing sensing capabilities that can cooperate with each other and share their sensing resources and perspective with the nearby infrastructures and neighboring vehicles.”

In the authors’ opinion, many challenges remain ahead in terms of key aspects like privacy, security, and anonymity. The authors briefly attempt to explain hackings of vehicular systems that have happened in the past. Citing an example from 2015, the authors stated:

“In 2015, Charlie Miller and Chris Valasek have demonstrated that they could take control over the Internet of a Jeep Cherokee’s entertainment system by meddling with the dashboard functions, steering, brakes, and transmission, all from a laptop that could be anywhere in the world.”

Furthermore, the emerging blockchain technology can propose as a new security solution that complements the existing ones. The authors stated:

“Over the last few years the blockchain technology has managed to attract immense attention due to its intrinsic properties such as trustless operation, immutability, transparency, easy verification, cryptographic security, auditability and independence of third parties.”

According to the research, an increasing number of applications are adopting blockchain technology. However, an increase in the use of blockchain technology has brought many concerns like the reliance on the private key, high computing power, latency, bias towards nodes. Here, the authors bring in IOTA’s Tangle as a solution.

The authors attempted to analyze IOTA’s feasibility through a globally set up analysis and then observe the result of the experiment.

The experiment used a basic test setup using two nodes [NodeA], hosted in Norway, and a private node [node B] hosted in a Virtual Private Server [VPS] in Germany. The latter was connected to the Tangle network using the CarrIOTA Nelson project. The authors aimed to identify key operational performance parameters. Parameters like latency and privacy were put to test.

The paper concluded that the IOTA Tangle exhibits smaller transaction delays than the existing public blockchain, making it an ideal candidate for vehicular applications. The authors also came to a second conclusion stating that it also supports enabling of privacy in vehicular communications with no or negligible latency overhead.

The use cases of the IoT based blockchain has spread its wings in the recent weeks. Earlier this month, the Japanese tech giant Fujitsu announced that they will be rolling out IOTA as their new protocol standard.

Author: Anvita M V
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IOTA (MIOTA) Records 1 Million Transactions Within 88 Seconds During Test Run

IOTA is the future and the future is now. Time and again, the platform has proven that it is everything a DLT technology should be and more. Yesterday, a Twitter post from Roman Semko stated that’s the Tangle technology processed up to 1 million transactions within 88 seconds with about 300 nodes. The test was done in a simulated environment and it is further prove that IOTA is taking the lead in the DLT industry.


Name Price 24H (%)
Bitcoin (BTC)

Although the results were gotten during a simulation, it still says a lot about the power of the technology and how far into the future IOTA has moved in comparison to other projects. Achieving over 1 million transactions within a little more than a minute makes tangle the most suitable technology for machine-machine communication. The transactions are close to instant.

The result of this test is also a sign that the IOTA team is doing everything within their power to make sure the cryptocurrency lives up to its goal. A while ago, the IOTA Foundation claimed that it is ready to do whatever is necessary for the success of the project. Everything the platform has accomplished so far is proof that the words are true.

TIPIOTA has been making headlines on the partnership front thanks to its collaboration with Audi and Volkswagen. The rumour in town is that a partnership with Tesla and Uber might be on the horizon.

IOTA (MIOTA) Price Analysis

At the time of writing, IOTA (MIOTA) was trading at $0.713959 which indicates a 5.04% rise against the USD and a 4.39% rise against Bitcoin. The price action is rather impressive since many other cryptocurrencies are trading on a declining trendline. It’s possible that the good news from the IOTA Foundation has contributed in the price boost. The next few days of trading will determine if the price of IOTA will continue to trade in green or if the price action will become negative.

Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Author Uma Johnson
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AVATARAPeoples Token

Tron (TRX) Up 13%, Edges Out IOTA

Five hours ago, the crypto exchange known as BITBOX announced it had listed Tron (TRX). Due to the listing, TRX managed to surge in the markets by 13.18%.

Justin’s and BITBOX’s Airdrop Offer
Justin Sun would also offer an airdrop on the exchange for one lucky winner who will receive 30,000 TRX.

~In the tweet, Justin Sun stated the following:

“”Airdrop happening now on BITBOX! 9,000,000 $TRX available I will randomly pick one winner that will receive 30,000 #TRX
Justin’s airdrop is an addition to an existing one that was launched by BITBOX with the new listing of TRX. The airdrop will began today, the 15th of August at 1am UTC, and will end on the 22nd of August at 00:59:59 UTC. The BITBOX airdrop is divided into 4 categories as follows:
Sign-up Event
First 2,000 new sign ups on BITBOX will receive 2,000 TRON on a first-come-first-served basis.

Deposit Event
– Deposit up to 50,000 TRON and earn 2% daily on your deposits
– Max. daily earnings: 1,000 TRON (assuming max deposit of 50,000 TRON is made)
– Max. total earnings: 7,000 TRON (assuming max deposit of 50,000 TRON is made and held for the whole event of 7 days)
– Max. total earnings (%): 14%

Trading Event
– Earn 2% on all your TRON trades, up to 600,000 TRON worth of trade volume.
– Max total earnings: 12,000 TRON (Assuming trades of 600,000 TRON or more made during event period)

BITBOX Twitter Retweet Event
Follow BITBOX’s official Twitter account and retweet selected BITBOX tweet to stand a chance to win TRX airdrop. The more retweets, the higher the prize.””


With the new listing on BITBOX, Tron (TRX) has managed to edge out IOTA in the crypto markets and according to market capitalization. The difference in market cap between the two coins stands at $12 Million but this is much needed news for the Tron community.

Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Author: MaxPositives
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3 Features That Give IOTA An Edge In Real-World Applications

Over the last ten years, we have witnessed the rise of blockchain technology which offers peer-to-peer transactions of funds without middlemen or geographical barrier.

However, this rise has also been accompanied with unexpected trends in the blockchain ecosystem. The speed of transactions and fees associated were strong points of major blockchain projects, yet the current levels of adoption has shown that the fees can be quite substantial and transactions can be very slow due to congestion of the network. The response of most blockchain projects to this is a process known as scaling.


IOTA is a blockchain-related project that tackles the scalability problem by having its own distributed ledger that’s different from the usual blockchain. IOTA is designed to empower machines and humans to participate in flourishing new permissionless economies. Learn more in our introductory article: What is IOTA?

IOTA has a number of unique features that sets it apart from other projects in the ecosystem such as high scalability, low resource requirements, secure data transfer, offline transactions, and many more.

However, there are 3 important features that gives IOTA an edge for real-world applications. They include:

  • Potential for unlimited transactions per second
  • The Tangle technology, making IOTA immune to quantum computing hacks
  • Zero fee transactions, making IOTA an effective way of moving funds

Potential for Unlimited Transactions per Second

To better understand practical application of IOTA, it is important to understand the technological trend known as Internet of Things (IoT). IoT refers to a trend whereby machines (like cars, fridges, phones, watches, and basically anything electronic and software-based) communicate and exchange data with one another without human interaction, resulting in greater efficiency and economic growth. The whole idea of IoT is to mesh the physical world with the internet world and allow technological devices to exchange data without any human asking the devices to.

In today’s world, exchange of data is often accompanied with payments. So, for IoT to become a full reality, there must be a platform that can facilitate machine-to-machine payments. This is where IOTA comes in. IOTA is theoretically designed in such a way that the more transactions there is on the network, the more transactions the network can process. This still remains an ideal situation, however. Currently, the network can process between 13 and 1,500 transactions per second. This unique scalability of IOTA makes it a prime facilitator of IoT.

IoT is not just a futuristic idea that people like to fantasize about, it is already happening. The advent of smart phones, smart homes, smart watches, and other “smart things” is the very trend of IoT. Very soon nearly everything is going to become “smart.” And the platform capable of microtransactions to make this possible is IOTA. Therefore, a future with IoT is a future with IOTA.

In the next couple of years, it is expected that the number of machines in the world will more than double over the next decade. This would ultimately create a machine economy that would be very robust.

Source: Statistica

The potential of IOTA as connected to IoT has facilitated partnerships with IoT-related organizations such as International Transportation Innovation Center (ITIC),, and +cityxchange.

The Tangle Technology

IOTA uses the Tangle technology which is unlike the blockchain. Tangle has the usual blockchain features of distributed ledger and secure transactions, but it does not work with blocks. Tangle is a particular kind of directed graph that holds transactions. Instead of blocks, Tangle uses Directed Acyclic Graph (DAG).

In a regular blockchain, transactions are bundled together in blocks and then they are verified by miners. This implies that increase in transactions will mean an increase in work for miners. This also results in higher transaction fees. In Tangle, each transaction is represented as a vertex in the directed graph. To proceed with this verification, the transaction chooses (at random) two previous transactions to approve, adding new edges to the graph. As in the figure above, transaction number 6 approves transaction number 4 and 3.


The fact that users and validators on the IOTA Tangle are one, the IOTA architecture is inherently decentralized.

Sufficiently large quantum computers have been discovered that could be effective for handling problems that require trial and error to find a solution. An example includes finding a nonce in order to generate a bitcoin block. This threatens the security of bitcoin transactions due to the assumption that no single actor can mine blocks any faster than anyone else.

However, the algorithm used in the current IOTA implementation is structured such that the time to find a nonce is not much larger than the time needed for other tasks that are necessary to issue a transaction. Thus, the efficiency gain of the ideal quantum computer would not pose a security risk to Tangle. In other words, blockchains could get hacked by large quantum computers (developed in the future), but Tangle will not.

A couple of organizations that have partnered with IOTA to explore the Tangle technology include Snapask, Paragon, BitDice, Augmate, Audi Think Tank, SinoPac, DNB, and UNOPS.

Zero Fee Transactions

Due to the fact that there are no miners in the IOTA ecosystem, there are no fees associated with transactions. Users are validators. And as explained above, the higher number of users, the faster the transactions. New transactions verify previous transactions so the cost of sending funds is ultimately zero. This means if you are sent $1,000, you get $1,000—not $999.99.

Organizations that have interest in IOTA based on its financial feature include MGER, NetZ0, Monster Cleaning, and MOBI.

IOTA has also announced partnerships with big organizations and companies such as Microsoft, Bosch, Schneider Electric, Fujitsu, University of Oslo, Deutsche Telekom, and more, as detailed at the tailend of this article.


It is already clear that the future will be shaped by the Internet of Things. Everyday physical things are going “smart.” Also, already “smart” things are getting smarter. It is only natural that an ecosystem to power this smart economy must exist. The Tangle technology, though still in its infancy, shows tremendous potential to affect how transactions take place in the world.

Plus, we can always count on the fact that many years from now, people will still want to save or keep more of their money and hence be more attracted to cheaper ways of doing things. Zero-cost transactions are a great feature that will never grow stale.

With all these, it is highly likely that IOTA is here to stay and has the potential to be an integral part of the future.

Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Author: David Olarinoye
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Top 10 Crypto Deals in 2017 Returned Over 136,000% on Average, Report Shows

Research into the top ten crypto deals in 2017 based on their investment returns (ROI) has revealed that on average each returned over 136,000 percent, according to data shared with Cointelegraph by Crypto Finance Conference (CFC) analysts July 27.

Out of all the crypto projects that raised a minimum of $1 million in 2017, IOTA (MIOTA) clinched a staggering 614,934 percent return for investors, sealing the top spot in the researchers’ rankings.

IOTA is an Internet of Things (IoT)-focused crypto platform that uses a so-called Tangle system. The protocol is different from blockchain, in that it does not use “blocks” or mining, but rather is built upon a directed acyclic graph (DAG) — a topologically ordered system in which different types of transactions run on different chains in the network simultaneously.

CFC notes that the project is “expected to reach 75 billion connected devices by 2025.”
In second place is Nxt, a blockchain-powered, decentralized ecosystem that focuses on crowdfunding, governance, cloud services and digital asset exchange. Investors in the project’s native NXT token saw returns of over 500,000 percent.

Open-source blockchain platform Ethereum (ETH) — co-founded by Vitalik Buterin, who has characterized the project’s ambition as nothing short of becoming a “world computer” — ranks third, after bringing over 141,000 percent returns to its investors.

Andrea-Franco Stöhr, co-founder and CEO of CFC, said of the research findings:

“No project in the top ten had an ROI that was less than 6,000%—gains that are unfathomable for investors in many other markets. These numbers demonstrate the strong upside and myriad real-world applications for cryptocurrency. Also, the extreme success of infrastructure projects suggests investors should be seeking foundational companies that will redefine the internet in the next 10 to 15 years.”

Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Author Marie Huillet 
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