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      "author": "steemitboard",
      "body": "Congratulations @bitrates! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@bitrates/birthday1.png</td><td>Happy Birthday! - You are on the Steem blockchain for 1 year!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@bitrates) and compare to others on the [Steem Ranking](http://steemitboard.com/ranking/index.php?name=bitrates)_</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n<table><tr><td><a href=\"https://steemit.com/steemitboard/@steemitboard/steemitboard-witness-update-2019-05\"><img src=\"https://steemitimages.com/64x128/http://i.cubeupload.com/7CiQEO.png\"></a></td><td><a href=\"https://steemit.com/steemitboard/@steemitboard/steemitboard-witness-update-2019-05\">SteemitBoard - Witness Update</a></td></tr></table>\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "author": "bitrates",
      "body": "*This exclusive interview was published on [Bitrates.com](https://www.bitrates.com/news/p/exclusive-interview-with-nchains-chief-scientist-craig-wright) on July 19.* \n\n*I had the pleasure of meeting Craig Wright last Thursday at the beautiful Floisvos Marina in Athens, catching him on the tail end of his vacation in Greece. You probably know him from when he first sent waves of controversy through the crypto community for claiming the title of Bitcoin creator back in 2015. He has since made a name for himself as the chief scientist at nChain Limited and as one of the strongest evangelists for Bitcoin Cash.*\n\n*This exclusive interview took place just days after nChain was awarded three new patents for Digital Rights Management Using Blockchain by the European Patent Office. It only made sense, then, to include some piercing questions about nChain and its strategic partnerships. But Craig, as you may have guessed, certainly did not need my help raising controversial issues, discussing everything from Bitcoin Cash and its scaling future to shamelessly commenting on Vitalik Buterin’s latest claims, in which the latter criticized nChain's recent win of a patent for a digital security invention.*\n\n**You recently mentioned on Twitter we could see a 1TB block size in the future. What does the future for Bitcoin Cash scaling look like and could we expect such a block size increase?**\n\nDefinitely. A terabyte is just the first, but there should be unbounded. This doesn’t mean that every single block is going to be full, it means \"use.\" Also, if we didn’t have a limit now, it would still be economically bounded, by what miners can afford to put in. Miners and businesses are all that matter for this.\n\nBitcoin was never about home users running nodes, it’s about peer-to-peer cash. Not peer-to-peer people at home running settlement systems. My grandmother doesn’t care about settling her own money. She cares mostly about spending her money. And having a ledger that other people fight and compete for, to keep secure, matters. Now, this is why Bitcoin is the way it is. It means that rather than this loose mesh idea that people seem to think would work, like the internet, Bitcoin is more modeled after things like the IRC (Internet Relay Chat) networks. It’s biomimicry. It’s the idea of a small world network, something like Newman and Strogatz and whatever else did. Very new concept, it’s only 20 years old or so, and in network theory, this means that, basically, we need a complete graph that is highly, densely connected.\n\nAnd that’s what miners want because Bitcoin is not about finding blocks–that’s the error people have–it is about making sure that people know that you found the block. There’s no good as a miner finding a block; this is why things like “selfish mining”, and whatever else, are all bullshit. It doesn’t matter that I found a block, it matters that you know I found a block.\n\n**So today, would you still stick to your claims regarding the \"Fallacy of selfish mining” in Bitcoin?**\n\nOh totally. It’s a load of crap.\n\nThere is a reason why, instead of selfish mining, you’ve seen this Shitcoin Gold and all that, have been attacked by 51% attacks. If it was cheaper, the people would attack using “selfish mining.” They don’t; people have tried it, it fails. It is thinking that the network is a mesh, it’s not, it is a small network.\n\nAnd now, this idea of gamma. Well, when I say negative gamma, it’s a probability, there is actually negative probabilities. You don’t get to them to a Master’s level and things like that, but that’s like many things. You get taught that you can’t do the square root of -1 until you get up to university and then they suddenly say, “We’ve been lying to you, you can”.\n\nIt’s the same sort of thing. As a miner, and if you are a miner, I send my packets directly to you and not waiting [for] all the other miners, I send to every other miner that I know of. Now this idea that you stick a whole lot of little sibyls out there that have many [inaudible]. What that means is that I send to you and then they get it, and then they send it to the selfish miner who now responds to us, and we go fuck off.\n\nSo, it’s a misunderstanding of the network structure of Bitcoin, it’s not like the Internet, it’s not a mesh. It’s completely, utterly different than the Internet. Far faster, far more efficient, far more secure.\n\n**After the recent hard fork on Bitcoin Cash we expected a price increase, which hasn't come yet, as it was dragged down because of the correlation with BTC.**\n\nThat’s because it’s all gambling. What we are building in partnership with companies in a variety of areas, like SBI and others, is “use.” We want to see people integrated with banks. Integrated with payment card systems. This is why that’s the strategy we’ve been having, not only for our own developments in-house but with acquisitions.\n\nSo nChain has purchased a stake or full control of a number of organizations; some of our own investments include HandCash, they include a number of others along those sort of lines, [inaudible] etc., which gives us a simple social wallet that I’ve been talking about for a long time. And frankly, this is something I can’t do to save myself so I won’t even try. It gives us a simple payment system, plus, all of that years ago back in 2013, I bought source code for poor banking systems. We have things like airmail modules and CTR tracking modules and I am hoping that will come out.\n\nForget this anarchist crap; it’s never going to work. If we want this to work we have to actually work within the system and give something that is not too threatening to governments, allows governments to, sort of, be bounded and let us grow our freedom at the same time. You can’t just throw the baby and the bathwater out together. What you’ve got to do is try and build. Too many people think that destruction is how you actually create things; it’s not. So, you’ve got to take what’s already there and build upon it. And Bitcoin allows that; that’s what people don’t get.\n\nIt allows you to integrate with banks. But still, then control some of the problems of central banks, who just print the fuck out of money.\n\n**Which cryptocurrencies do you see prevailing in the next decade?**\n\nBitcoin Cash.\n\n**Besides BCH?**\n\nNone. I don't. They’ve got no purpose. At least Ethereum tried for a purpose, but all that has become is shitcoin promotion. They gave up on what it was really about, (I could tell them how to fix things but I am not going to), but the concept at the moment won’t scale.\n\n**What’s next for Bitcoin Cash?**\n\nA lot of things. We are starting to integrate with the banking system, we’ve been talking about a whole lot of security and privacy systems, but first, simple payment systems. Ones that will allow my grandmother to use better token systems. When we bring out tokens on Bitcoin Cash later this year, I don’t want to see ICOs. It will be feasible, whatever else, to do it, but I want to see regulated securities.\n\nWhat people don’t get is, this concept of companies are bad and whatever else, we have to do it without control. It’s a load of crap. People don’t understand that it was hundreds of years fighting government to get the right to have limited liability. That’s actually a win.\n\nSome of these idiots, “idiots” is not a strong enough word, but idiots who call themselves anarchists are not understanding. This is something that we won from government and these assholes are throwing it away. Limited liability replaced strict partnerships where if one person did something wrong, the other partner was completely liable including jailing for debtor's court and things like that. Limited liability in companies allows people to form structures and companies and manage risk without being thrown into jail for debt. It allowed them to build organizations that outlast them.\n\n**What would you say that made Gavin Andersen shift to your side back in 2016?**\n\nHmm. Gavin's sane? He cares about Bitcoin, he wants to see it grow and he is sick of the idiots who want to try and destroy everything. He wants to see a world where his kids will live that isn’t in conflict and fighting, and that’s the thing people don’t get. Anarchy always ends in conflict, death, violence.\n\nEvery time it’s been tried, there are actually thousands of documented cases, of people trying to make anarchist societies. And zero of those have even - even if you go to something as stupid as Wiki - you find hundreds of documented [inaudible]. Research is pointing out more. And not one of those ever ended without violence. Some without murder, but not all.\n\n**You mentioned in an interview once that it is the economics of the system that makes it strong, not the algorithms. Could you elaborate?**\n\nReally, it's about putting effort into, basically, finding blocks faster than anyone else. That isn’t, thus, the algorithm itself. I mean it doesn’t matter which hashing algorithm or which anything else. It’s proving that you have done an amount of computational effort. So, the algorithm doesn’t make that strong. The amount of money you are investing and putting into creating systems, that makes it strong. It doesn’t matter if it’s even a hash algorithm or something like this. No extra strength from that.\n\n**Reading your tweets over the last few days, you mentioned that you are working on some papers. Would you like to share some insights about them?**\n\nNot yet, because we want to protect our IP (intellectual property) I really feel that having a whole of shitcoins, trying to use some of it and having to fight with them for these things, but I figure people might start to understand what I’ve got in five years from now.\n\nThat’s the current papers. Even the ones that I am just starting; we've just had another three patents awarded yesterday, so from pending to full award, now we have five and each week we expect more now. Even those it will take a while. We’ve got some companies, Atlantis Labs over in the US who’ve been [inaudible] to build secure applications, secure messaging, distributed oracles.\n\n**What can you tell us about what’s happening at nChain or what particularly excites you about what’s in development there?**\n\nWe are a strange organization, we don’t really want to be someone like Google or whatever else, I have enough headaches or whatever else, with things already. We work with a lot of external companies, we are in discussions with some companies in China about a partnership for development, we have partnered with a company in Eastern Europe called Crea, we have developers, we don’t want to build a huge internal development team. What we try and do is we have the leadership function, so we have researchers, we have mathematicians, computer scientists, and architects who can develop and design code and then allow others to build it. We are now branching out a little bit, we're setting up a professional services arm because we need to start educating companies.\n\n**Coindesk reported a couple months ago that nChain is intended to replace Bitcoin Core. To what extent is that a valid claim about the intention behind the project?**\n\nThat’s a lot of crap. Coindesk is just paid shill media. I'll wipe my ass with better bloody journalism than I've seen out of them.\n\n**What do you think is behind the objections by Vitalik Buterin and others regarding the legitimacy of nChain’s patents?**\n\nOne, Vitalik wouldn’t know how to read a patent if it came up and bit him. He is a kid and that’s about as much as I can say.\n\nIf he’d actually spent some more time and didn’t drop out of university and finished something, then he might actually understand how these things work. The first part of a patent is “prior art.” So, these things go through and they are examined and it takes years, and people can oppose them and they could have opposed at any time. I mean, they jumped up and down when they first got published and said, oh, fight these and examined all that and they looked and went, “This is all bullshit.” So basically, the first section of a patent is prior art. And you read the prior art, and because it's like if you write a thesis, you have a lit review and in your literature review you put all the things that have gone before. So, the patent offices, that allows them to actually understand what you’ve used to build things.\n\nThen you take all these bits and you say, “We have a new engine – we have used the combustion engine, but this is how we've improved it.” So what people don’t get is, you are then explaining based on all this that came before, and now this is what we’ve done. But then, if Vitalik and others had actually completed their degrees and written a thesis, they might actually understand how this little process works. So, when you write a thesis, you say, all these guys I am standing on their shoulders because they have done all this great work. But we take what they’ve done and we do this and make something even better.\n\n**So, you say that his claims are based on ignorance and not on some hidden agenda, let's say?**\n\nYes, I think it’s ignorance. I just think Vitalik is a silly boy.\n\nI can understand why he is upset and threatened, he’s got his little Vitalik foundation there and if we succeed it all comes crashing down. The difference is that we can scale and Ethereum can’t.\n\n**In general, what is your sense of the state of debate among key figures in the crypto community? Would you say it’s just healthy debate? Is it a problem with Twitter? Why is there so much disagreement among the different camps?**\n\nThere should be disagreement; it’s competition. If you don’t have a disagreement, then we have a bunch of idiots all sitting there agreeing blindly and getting nowhere.",
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      "body": "*This is the second of three articles in a special series on IOTA on [Bitrates.](https://www.bitrates.com/)*\n\nIOTA's tangle is unique among distributed ledger models in that instead of being grounded in a universal order around a canonical blockchain, it forms a flexible architecture capable of organizing itself around estimative probabilities. This affords a training-based data-driven coordination ideally suited to unleashing machine learning technologies. In the tangle, machines can train themselves to better execute operations, while blockchains are, in essence, blind, deaf, and dumb in that regard.\n\nIOTA's tangle resembles a rudimentary neural network that propagates transactions, circulates data and allows for various ways in which data can map out meaningful cohesion. The tangle, in that sense, can be understood as a general framework for advancing Artificial Intelligence. (In a way, what open source is to software, IOTA is to Artificial Intelligence). \n\nThe methods of statistical inference that [IOTA](https://www.bitrates.com/coin/IOTA/overview/USD) employs are constantly at work under the hood in platforms like Facebook, as well as Google's search engine and its suite of integrated applications. IOTA, however, leverages that technology in an effort to lay the foundations for a machine economy that reflects the dynamics of objective reality in the physical realm of motion and change.\n\n## Bayesian Probability: Aligning Perception With Reality And The Virtual With The Actual\n\n*The value of information does not survive the moment in which it was new. It lives only at the moment. It has to surrender to it completely and explain itself to it without losing any time. – Walter Benjamin*\n\n[The Bayesian methods](https://en.wikipedia.org/wiki/Bayesian_inference) that IOTA makes use of have a long history of application in practice across many different domains and fields of inquiry (from insurance, risk assessment, and business management, to game development, drug discovery, and epidemiology, to name a few). As a powerful reasoning tool, when applied in the realm of machine learning, Bayesian probability heuristics empower machines and programs to efficiently handle missing data, extract information from limited datasets and estimate often remarkable predictions given partial information.\n\nThe basic intuition of Bayesian reasoning is succinctly captured in the Bayes theorem. The formula below is a seemingly straightforward heuristic for making educated guesses by quantifying beliefs based on available information and previous knowledge of the conditions that might relate to the phenomenon in question.\n\n![1.jpeg](https://cdn.steemitimages.com/DQmSsMQbAH5CviEw5cpyuqLGdLMonTA5Tq83EmnE4Byu9Wf/1.jpeg)\n\n*Bayes Theorem.*\n\nThe equation describes the probability of A given the validity of B. P(A) and P(B) are what are known as the marginal probabilities of events A and B independent of each other and P(B|A) designates the conditional probability of B assuming A. We assign distributions to everything in the formula and proceed to infer about the event we're interested in.\n\nA commonly given example of the Bayes theorem in practice is the false positives that occur in clinical diagnostics. Let's consider a drug test that is 99% sensitive to the drug it tests for and 99% specific - meaning, it is to produce 99% true positives for drug users and 99% true negatives for non-drug users.\n\nBut let's also take into account that roughly 0.5% of individuals in the population tested are actually users of that specific drug, so then factoring all these priors using the Bayes theorem, what would the probability that a randomly selected individual with a positive test result is actually a drug user? Following the formula, we'd arrive at 0.99 x 0.005 / 0.99 x 0.005 + 0.01 x 0.995, which averages at 33% probability that that person tested might actually be a drug user and 67% likelihood that he is not.\n\n## Bayesian Inference\n\n![2.png](https://cdn.steemitimages.com/DQmXZbtiVrT5fRMVadupiTLVhu8XeRxR3WhJLKk9Sf7jgfd/2.png)\n\n*A diagram of step-wise Bayesian inference structured as a DAG.*\n\nIn Bayesian interpretations, probability measures a “degree of belief.” Bayes’ theorem then links the degrees of belief in a proposition before and after accounting for the objective evidence which is not known in advance. And then, with the updated knowledge, it proceeds further in what is known as Markov chains, getting increasingly more accurate at each step as it absorbs new information and probability estimates about its surroundings at the point in time.\n\n ![3.png](https://cdn.steemitimages.com/DQmTxKocMXpZsffv8HHiVzZxGbb91h4Gzx2MM8JwRN3XUgT/3.png)\n\n*The line \"Bet you $50 it hasn't\" is a reference to Bayesian scholar Bruno de Finetti who extensively used bets in his thought experiments and examples. Source: [xkcd.com](https://xkcd.com/)* \n\nThe Bayesian framework of inference is considered to be extremely useful (if sometimes puzzling and occasionally regarded as something of a mysterious voodoo magic) in solving complex problems with large inherent uncertainty that needs to be quantified, and are thought to be the most information efficient methods to fit any statistical model (as well as the most computationally intensive, the economics of which IOTA tackles on the level of hardware).\n\n## Stochastic Processes, Random Walkers, and Probability Trajectories\n\nThe tangle is a DAG-valued stochastic process (a term for random) designed to integrate and deal with real-world complexities, which is why transactions on the tangle are not evenly spread across time, but structure a setting accommodative of different regimes and modes of activity. A stochastic process is essentially a generator of random samples and random walks are mathematical objects that describe sequences of random steps. IOTA's tip selection algorithms are biased (weighted) random walks on the surface of the tangle, which follow a path of approximate certainty.\n\n![4.png](https://cdn.steemitimages.com/DQmbYxX7gRidUMQBp4wYrnoXueUEcdgV2DzimQdY3qz8KRr/4.png)\n\n*A simulation of the tangle, given parameters of the number of transactions, the rate at which they arrive, the degree of randomness, and the type of random walk used for connecting incoming transactions from genesis to tip.*\n\nThe horizon conditioned by the tangle affords for the application of a plethora of out-of-the-box algorithms that can optimize for a wide spectrum of strategies and possible circumstances of application.\n\n![5.png](https://cdn.steemitimages.com/DQmQGpMCBqQLVV9ZYZQKH7VToDLEKnseCvWkjVs7A4LU1mP/5.png)\n\n*A stochastic process.*\n\n## Markov Chains\n\n*\"When the Facts Change, I Change My Mind. What Do You Do, Sir?\"  -- Winston Churchill*\n\nMarkov chains are a continuous form of Bayesian inference that map out trajectories of probability by integrating new information at every step, accounting for how the system might behave next before proceeding further. Essentially, Markov chains are random walks on a graph (DAG) that satisfy some specified acceptance rules.\n\n![6.png](https://cdn.steemitimages.com/DQmZRSuT2NUDB8r4VhUXVHgPqy9JhXEELmZbhJLm7PmL2rz/6.png)\n\n*Markov chains are usually represented as state transition diagrams with attached probabilities.*\n\nMarkov chains are defined by states and transitions between them and the intuition is such that if observations are carried out long enough, as the number of trails increase, they'll eventually converge towards the approximate equilibrium of the unknown ratios they are biased towards revealing.\n\n## Monte Carlo Methods\n\nAn important contribution of IOTA to the province of DLT is the family of Markov Chain Monte Carlo algorithms it proposes in the framework of a distributed ledger. Markov Chain Monte Carlo are considered to be the only methods guaranteed to solve a problem (given sufficient resource and enough time to do so) and are generally used to sample from and compute expectations with respect to complicated, multi-variate and high-dimensional probability distributions where no other methods are practical or adequately suited.\n\nThe purpose of MCMCs in the IOTA protocol is to choose attachment sites for a tip transaction and follow its validations to a certain depth of acceptable certainty in traversing the correlated chains of the graph history. For example, a seller receiving a payment can set an acceptable level of a risk he's willing to accept in a given situation. This provides a highly robust mechanism for liability management and calculating risk estimations in any given circumstance involving statistical estimates and can be extrapolated to all kinds of scenarios depending on the kind of structured data in question.\n\n## Weight Matrices: Own Weight, Cumulative Weight, and Minimum Weight Magnitude\n\nAs already mentioned, weights are a key metric in how associative connections form in neural networks and weights on the tangle are what the random walks are biased to sway towards. Weights determine the activity of a node in validating transactions and the function of the coordinator presently in place is to provide the training wheels that eventually enable the network to deal with malicious double-spending instances on its own.\n\nThere are three kinds of weights in IOTA: own weight, cumulative weight and minimum weight magnitude (MWM). Every transaction has its own weight that can have values 1, 3, 9 and etc. 3 to the power of n (as befitting the balanced ternary nomenclature). Transactions issued by nodes constitute the site set of the tangle graph that forms the ledger (the wallet being simply a node interface to the tangle) and the weight is determined by the efforts made by the transaction's issuing node.\n\n![7.png](https://cdn.steemitimages.com/DQmfU3n2sbjaoqtKm39uPptrwym9ATpWQWbdRqjmYJeuAXT/7.png)\n\n*A DAG with weight assignments before and after a newly issued transaction, X. The boxes represent transactions, the small number in the corners of each box denotes own weight, and the bold number on top denotes the cumulative weight. Source: [IOTA white paper](https://iotatoken.com/IOTA_Whitepaper.pdf).*\n\nAs it propagates through IOTA’s network, a transaction’s weight increases with the number of approvals. As arriving transaction must perform Proof-of-Work in solving and validating two previous transactions (referred respectively as trunk and branch, or has approved and is approved by), using the weighted random walk algorithm eventually one of the branches will grow larger and form stronger consensus around it.\n\nThe cumulative weight, on the other hand, is a transaction's own weight plus the total sum of all weights of all transactions that directly or indirectly approve it. The cumulative weight is an important metric for transactions on their way to network approval and the strategy for choosing which tips to approve is of key significance and a question of calibrating the bias so that while it disincentivizes lazy behavior, at the same it doesn't leave tips behind unapproved.\n\nThis, again resembles the way neurons form connections and transmit signals, as the activation of a neuron depends on the sum of the activations of other neurons multiplied by its weight to them, and when that sum reaches a threshold it fires an action potential that propagates the signal further. \n\n## Nash Equilibrium: Rationality Without Enforcement\n\nDecision making is an aspect implicit to the functioning of every dynamic system of interactive relations and a Nash equilibrium is a concept in game theory characterizing a state in which every actor has optimized his strategy in alignment with all the other participants' choices. Essentially, a Nash equilibrium is a law of self-evidence and pragmatism, which doesn't require policing even in the absence of enforceable mechanisms. (For example, it makes sense for everybody to follow traffic light signals).\n\nA paper entitled \"Equilibria in the Tangle\" from March 8th, 2018, proves the existence of a Nash equilibrium on the tangle in produced simulations where it is demonstrated that even though there are no strict (but only approximate) rules for choosing transactions, when a large number of nodes follow some reference rule, it is to the benefit of any such node to stick to a rule of the same kind (\"selfish\" participants will cooperate with their tangle as there is no incentive to deviate).\n\nThis makes sense in the context of IOTA and the overall logic of the system where users are seen as the devices they interface with and as such a byproduct of the network itself. These premises create an environment that is collaborative in nature, as users contribute to the stability and security of the network simply by using it.\n\n## Conclusion\n\nUnlike other forms of distributed ledgers, IOTA's tangle deals with probabilities and avoids the pitfalls of capture and centralization by empowering the network and its utility role of optimizing weighted solutions, rather than any given privileged party, global solution or ideological inclination.\n\n**More in this series:**\n\n[IOTA: A Systematic Approach to the Internet of Things](https://www.bitrates.com/news/p/iota-a-systemic-approach-to-the-internet-of-things) \n[IOTA's Qubic Protocol Make the Tangle Programmable](https://www.bitrates.com/news/p/iotas-qubic-protocol-make-the-tangle-programmable)",
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      "body": "(The first of 3 pieces in a series on IOTA on Bitrates.com)\n\n![3.jpeg](https://cdn.steemitimages.com/DQmdLexGHAL1c5xocqNXMveXwwVreK2EaMaWLA2wGNgD6Pg/3.jpeg)\n\n*\"The future is already here — it's just not very evenly distributed.\" -William Gibson*\n\nIOTA is quite often misunderstood in the blockchain and crypto community. This is because it is a radical departure from the commonly accepted axioms of distributed ledgers and encompasses a host of concepts and technologies that may strike some as unorthodox. Interestingly, however, the origins of IOTA seem to stretch as far back as the early days of Bitcoin when efforts were being made to address the limitations of the first blockchain (while furthering the general concept of a permissionless distributed ledger).  \n\nAs a cryptocurrency, IOTA is in a class of its own in that it is designed around a non-blockchain data structure with a highly scalable approach to transaction output. It targets the machine-to-machine interactions in the ecosystem of the Internet of Things.\n\nThe IOTA foundation was established as a non-profit and is based and headquartered in Berlin. They are dedicated to the development of open protocols and industry standards in the specific cross-departmental junction of Distributed Ledger Technology (DLT) and the Internet of Things (IoT)\n\n**What is IOT? The Internet of Things and a Ledger of Everything**\n\n*“We need to get smarter about hardware and software innovation in order to get the most value from the emerging Internet of Things.” -Henry Samueli*\n\nThe Internet of Things (IoT)  is a concept describing an interconnected constellation of \"smart\" objects and devices such as environmental sensors, cameras, mobiles, biochip implants and wearable medical devices. \"Things\" in this sense refers to a mixture of hardware, software, data, and services, wherein each device in the network collects useful data and circulates it among the other devices. The value of such data could be almost limitless in terms of utility and predictive capacity.\n\nThe ability of IoT devices to transmit sensory input and be remotely controlled across existing and overlapping network infrastructures creates opportunities to more directly integrate the physical world into computer systems. This integration allows for a significant boost in efficiency, improved accuracy in analytics, and consequent economic benefits, while gradually reducing the need for human intervention. The result is a further rise to cyber-physical assemblies such as smart cities and grids, virtual power plants, SCADA (Supervisory control and data acquisition) systems and other critical infrastructure. Security expert Bruce Schneier describes the emergent properties of such systems as a \"world-sized robot\" in a 2016 essay, in which he writes:\n\n*\"The World-Sized Web is being built right now, without anyone noticing, and it'll be here before we know it. Whatever changes it means for society, we don't want it to take us by surprise.  These changes are inherently unpredictable because they're based on the emergent properties of these new technologies interacting with each other, us, and the world. In general, it's easy to predict technological changes due to scientific advances, but much harder to predict social changes due to those technological changes. For example, it was easy to predict that better engines would mean that cars could go faster. It was much harder to predict that the result would be a demographic shift into suburbs. Driverless cars and smart roads will again transform our cities in new ways, as will autonomous drones, cheap and ubiquitous environmental sensors, and a network that can anticipate our needs.\" -Bruce Schneier*\n\nIn 2017, the number of online-enabled devices expanded to more than 8 billion, with estimates that by 2020 the IoT landscape will account for more than 30 billion interconnected devices and a global market value in the range of 7 trillion USD.  This proliferation is paralleled with an explosion of associated vulnerabilities.  IoT-focused exploits have quadrupled in the interval between 2016 and 2017, demanding an integrated approach to handling the entangled complexity of the IoT fabric.\n\nA functionally flexible architecture capable of balancing latency, network accessibility, rising costs and sensitive data security concerns is required. IOTA positions itself as the first significant mover in this space.\n\n**IOTA: An Intersection of Cryptocurrencies, Internet of Things, and Artificial Intelligence** \n\nThe mathematical foundations of the tangle were laid down in the white paper by co-founder Serguei Popov in an overview of how the nature of blockchains and their associated transaction fees are unsuitable for the micro and nano transactions (be those value or data) that define machine-to-machine interactions. So, instead of a blockchain which structures transactions in compressed blocks on a single lane, IOTA uses a network topology of a directed acyclic graph (DAG).\n\n![1.png](https://cdn.steemitimages.com/DQmad1mzw6zV9EPrKjViTcc54AQfhkapLCrjr19nzcPPHNw/1.png)\n\n**Visualization of the tangle.**\n\nIOTA's DAG architecture (known as the tangle) is conceived as the infrastructural blueprint for interconnectivity and data coordination between devices. It introduces an altogether different operational logic in that it empowers the network rather than profit any particular group of actors within it. While Bitcoin and other blockchains have arguably become more of a social experiment rather than a technical one, IOTA's undertaking begins from scratch in reinventing not just the distributed ledger, but the structural foundations that ground it.\n\n**The Tangle As A Neural Network Registry**\n\nA feedforward neural network is an artificial neural network (DAG) wherein connections between the nodes do not form a cycle.\n\nWhat makes the tangle of special interest is that it is being designed as a globally distributed neural network rather than an institutional blockchain pillar. Neural networks, as a rule, are at first unorganized and don't work very well but improve in accuracy as they evolve and optimize based on \"weights and biases.\" These weights and biases determine how each node navigates its way through the network progressively improving its performance of tasks. The process of enhancing a neural net's accuracy is called training.\n\nIOTA is also introducing a small hardware augmentation (the JINN ASIC/microprocessor) that uses ternary logic and further equips devices to function like neurons in a distributed system of interconnected layers without a center. The ternary logic modification will bring substantial improvements to distributed computing as it allows for a more compact structuring of information and significantly increased processing speed. This reduces the amount of electricity necessary in comparison to what the binary chips expend for executing the same operations.\n\n**Directed Acyclic Graphs: An Entangled Web of Chains Without Blocks**\n\nA Directed Acyclic Graph (DAG) is a topological ordering consisting of nodes (tasks, events). Their dependency relationships are connected via edges (or directed arrows) in such a way that that time flows in one direction and nodes cannot loop back to themselves. That is, by moving from one to another following the edges, a node cannot be encountered twice. DAGs are applied in modeling all kinds of information where events are to be represented in how they influence each other. Blockchain ledgers, in contrast, group transactions in compressed lists, including the previous block (and thus, the entire history) and chain them on a single lane with interruptions of block time intervals.\n\n![2.png](https://cdn.steemitimages.com/DQmfXTg754CHrVyrdL1xua4QmW4jL8UBWyChpMPZZER3ss9/2.png)\n\n**Brain Circuitry - What is JINN and Ternary Logic?**\n\nJINN is a ternary-based microprocessor optimized for large-scale distributed computing. It was first announced in September 2014 on the NXT forum and IOTA became the software protocol developed to eventually fit the hardware. \n\nCo-founder David Sønstebø has described JINN as: \n\n*“JINN is a custom-made Polymorphic Processing Unit which utilizes asynchronous circuits and trinary logic gates, a component of this is the ‘Curl Hasher’ (essentially a tiny ASIC), this ‘Curl Hasher’ component will be made open source so that any chip manufacturer can add it to their chips trivially. We're talking a completely negligible amount of logic gates here, so zero extra cost, size trade-off or implementation issues.”*\n\n**A Ternary Processor**\n\nMost hardware in use today operates on binary logic, with a binary digit adopting one of two possible values or states (0 and 1). A bit corresponds to the maximum amount of information that a binary digit is capable of encoding - that is, a binary digit is a container for what a bit can represent.\n\nTrinary numerical systems, on the other hand, are of two types:\n\n• Unbalanced: a trit (trinary digit) has the values of 0, 1 and 2.\n\n• Balanced: a trit has the possible state-values of -1, 0 and 1 \n\nEncoding data in trinary defines both the amount of information that can be transmitted and how it can be handled.  IOTA employs the balanced ternary type since it is best-suited to their objectives. Guosong Liu, in an MIT publication, explains the benefits of trinary in computer design:\n\n*\"This [trinary] allows additional interactions to occur during processing. For instance, two signals can add together or cancel each other out, or different pieces of information can link up or try to override one another.\"*\n\nOne reason the brain might need the extra complexity of another computation component is that it has the ability to ignore information when necessary; for instance, if you are concentrating on something, you can ignore your surroundings. \"Computers don't ignore information,\" Liu writes, \"this is an evolutionary advantage that's unique to the brain.\"\n\nIOTA favors availability and speed over consistency (following the CAP theorem) while prioritizing partition tolerance with eventual consistency (meaning that the system can sync up after a partition gets back online, reattaching to the tangle).\n\n**Summary**\n\nIn today's information age, the ubiquity of data, the pressing privacy concerns, and the importance of data integrity seem to require some fundamental revisions to how we design our systems to handle this proliferation of data and complexity. IOTA has taken on the task of fleshing out a comprehensive solution to how we are to instrumentalize that wealth of information by enabling machines to output better structured and more reliable signals on a global scale.",
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