July 14, 2020

Market News

IOTA according to Coordicide – test network for new consensus model almost finished

IOTA , the most prominent blockchain project of the 3rd generation ( DAG = Directed Acyclic Graph) has had a turbulent year. In particular, the departure of co-founder Sergey Ivancheglo (Come from Beyond / CFB) in 2019 and the IOTA wallet hack in early 2020 caused negative headlines. However, the focus for the IOTA Roadmap was never lost sight of and the development activities were in full swing.

Coordicide

One of the main goals remains Coordicide , the final shutdown of the coordinator . Coordicide aims to solve the " blockchain trilemma " at IOTA. The blockchain trilemma is that a DLT network can almost never guarantee security, scalability and decentralization at the same time. While IOTA's Tangle technology is considered safe and scalable, decentralization should finally be achieved by switching off the coordinator.

New "Tangle Multiverse" consensus model

In November 2019, Hans Moog ( HusQy ), developer of the IOTA Foundation, explained in a detailed blog post why, in his opinion, a new consensus model is necessary even though Coordicide is already solving the trilemma. The new consensus model called "Tangle Multiverse" should make the Tangle significantly safer, more stable and more efficient.

According to Moog, the new consensus model is simply better and has numerous advantages for the IOTA Tangle:

  • Less “moving parts” and much easier to implement
  • Orders of magnitude more secure
  • Smaller message overhead since we use “virtual voting” to reach consensus
  • It gets rid of the need for re-attachments and promotions
  • Completely partition tolerant and resilient against large scale network splits
  • It works in the IoT and mesh net environment
  • Independent of the amount of “bad nodes” in the network and does not require a specific network topology like CA

Parallel Reality Based Ledger State

The announced public test network for Tangle Multiverse is now almost complete. On June 13, 2020, Hans Moog announced on Twitter that he and his Goshimer team had successfully tested the last part of the test network without a coordinator, the " Parallel Reality Based Ledger State ".

… Today we finished testing the last missing piece for the coordinator-less test network – the "parallel reality based ledger state". This completely new form of keeping track of the state of a DLT will be the "heart" of IOTA 2.0 and beyond and will give us a level of flexibility that has never been seen before. It not only completely decouples consensus and keeping track of the ledger state but it also reduces the required message complexity for voting as it enables us to only vote on conflicts…

The "Parallel Reality Based Ledger State" completely decouples consensus and tracking the ledger status. In addition, the message complexity for voting is reduced, since only conflicts have to be voted on.

Moog says that for the first time in over a decade, there is a completely new ledger status model. So far, only UTXO or account-based models have been used.

… It is the first time since more than a decade that we see a completely new ledger state model emerge as everybody else still uses the vanilla UTXO- and account-based models. It is most probably one of the most efficient ways to track the state of a decentralized system and might even use similar…

If it were up to Moog, the "Parallel Reality Based Ledger State" is the heart of IOTA 2.0 . Therefore, a lot will depend on whether the Tangle Multiverse test network can meet expectations and the benefits described can be demonstrated.

IOTA - parallel reality based ledger state

Source picture: Hans Moog (HusQy), Twitter