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IOTA - Ledger of Things

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This is a presentation I gave about IOTA, which is a revolutionary new distributed ledger specifically developed for the Internet of Things. I discuss the limitations of Blockchain, the benefits and features of IOTA, as well as our vision. We see IOTA as the backbone of the emerging Machine Economy, where any kind of resource and machine will be purchasable on-demand. If you are interested in joining or learning more about IOTA, please go to https://iotatoken.com

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IOTA - Ledger of Things

  1. 1. IOTA Ledger of Things
  2. 2. Internet of Things “50 billion connected devices in 2020” -Cisco
  3. 3. Cloud EVERYTHING
  4. 4. Problems of IoT
  5. 5. Single Source of Failure
  6. 6. Censorship
  7. 7. Smart Devices, Dumb Network
  8. 8. Zombies!!!!
  9. 9. Blockchain “Why the Blockchain Is the Biggest Thing Since the Internet” -NASDAQ Blockchain
  10. 10. ● Datasets shared amongst all parties ● Every party can verify the datasets of other participants in the network ● Tampered datasets are excluded ● An immutable single source of truth is established Distributed Ledger
  11. 11. Single Source of Truth Shared Truth
  12. 12. Illustration from Bitwage.com + = ?
  13. 13. Blockchain’s Limitations ● Scalability ● Storage ● Bandwidth ● Fees ● No Data Privacy ● Expensive Data Storage
  14. 14. I o T Requirements ● Low Resource Consumption ● Widespread interoperability ● Billions of nano-transactions ● Data Integrity
  15. 15. The solution Rethink from scratch A revolutionary new distributed ledger designed for Machine-to-Machine interactions.
  16. 16. Blockchain without the Blocks and the Chain. What??? Tangle
  17. 17. Blockchain ● Limited to Block Size and Time ● Not scalable ● Transaction Censorship (fee thresholds) ● Centralization ● Consensus Decoupled ● 80% of miners from China ● ... “Include my transaction, here is my fee”
  18. 18. Tangle
  19. 19. Tangle ● Bundles all transactions in a Directed Acyclic Graph (DAG) ● Completely self-regulating, consensus no longer decoupled ● Very Scalable. Low overhead Proof-of-Work to prevent spam
  20. 20. CAP Theoreom ● Consistency ● Availability ● Partition-Tolerant
  21. 21. ● No Fees ● Scalable ● Quantum Proof ● Modular ● Lightweight ● Offline
  22. 22. $0.01 - $0.01 + $0.01
  23. 23. Data Integrity ● Data is tamper-proof ● Enables automatic processes ● Remove humans from the equation 1001 0101 0011 1001 0101 0011 1001 0101 0011 1001 0101 0011 1001 0101 0011 1001 0101 0011 1001 0101 0011 1001 0101 0011 100101010011 1010001111010 1100100101111 0011010000011 11001111100110 0000001011101 0100111101010
  24. 24. Scale Usability Blockchain IOTA Tangle Scalability
  25. 25. Go Offline Offline Tangle Cluster Main Tangle
  26. 26. If this then that Smart Contracts Turing Completeness Security Very Cheap Scalable Low Entry Barrier (based on SQL)
  27. 27. OUR VISION
  28. 28. Economy of Things
  29. 29. Sharing Economy 2.0 Anything with a chip in it can be leased Devices trade resources among each other
  30. 30. CURRENT STAGE
  31. 31. Protocol and Network Statistics - Official launch July 11th - 1 year of development and testing - Community of 1000+ - More than 2m transactions - $60m+ of value transferred - More transactions per second than any blockchain
  32. 32. IOTA Foundation We are an open-source, non-profit Software Foundation. Goal of the Foundation is it to establish IOTA as a standard in the IoT stack.
  33. 33. USE CASES
  34. 34. Bandwidth on demand
  35. 35. Supply Chain Visibility Banks Insurance Providers Customs Importers/Exporters Shipping Liners Logistic Companies 10110 00110 01011 < / >
  36. 36. Smart-Grid
  37. 37. Other Use Cases ● Sensor Data selling & Data Marketplace ● On-demand API access ● Data Integrity (insurance, banking, etc.)
  38. 38. Join our Community Website: https://iotatoken.com Slack: https://slack.iotatoken.com Github: https://github.com/iotatoken
  39. 39. IOTA DEVELOPER GRANTS >$50,000 (soon to be announced)
  40. 40. QUESTIONS? Email Us: contact@iotatoken.com Twitter: @iotatoken

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