Comparison-IOTA - Revision history

Slackjore: updated name

2019-01-20T17:20:05Z

updated name

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2019-01-19T22:19:58Z

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Slackjore: fixed table

2018-03-11T13:52:47Z

fixed table

Slackjore: copied/reformatted from Wayback Machine; original mostly written by @portabella; added some links

2018-03-11T13:42:27Z

copied/reformatted from Wayback Machine; original mostly written by @portabella; added some links

New page

This article is a comparison of Byteball and IOTA.

== Byteball ==
* First cryptocurrency with DAG-structure to trade on exchanges, 2016 late December.
* Does not require proof-of-work
* Decentralized, not fully trustless. Has 12 witnesses, trust required that majority will not conspire together, users select and can replace witnesses see Witness
* Fair, open initial distribution by proving BTC ownership, spanning a year
* Has fee, the amount of data to store in the network is the amount of currency, bytes, to pay. To store a transactions costs about 520 bytes, full nodes and witnesses colllect/split the fee.
* To pay for goods/service of value 52 000 bytes, the fee would be 1%. Bytes are traded in 1 000 000 000 (1GB) as of (June 2017), total supply is 1 000 000 000 000 000 or <em>1 petabyte</em>. For todays price of $700 for 1GB, the fee of 600bytes (high estimate) is $0.0004. For fee to be $0.4, the price of 1GB would be $700 000.
* Declarative smart contracts, oracles, user-defined (private) assets, immutable data-storage.
* Community effort, no organized businesses, foundations.
* Uncensored, unmoderated communication channels.

== IOTA ==
* Began as idea/ICO in 2015, trades on exchange 2017 July.
* Requires Proof-of-Work
* Zero-fee, the transaction is payed for by expending compute-resources doing Proof-of-Work.
* The data-structure DAG also sometimes called Tangle
* Total supply is 2 779 530 283 277 761, traded in (1 000 000, 1Mi). <em>2.779 petaiota</em>.
* ICO, over-the-counter trade before exchange.
* Developer releases mark milestones as checkpoints in network.
* Has foundation, which has wide business connections and signed partnerships.
* Censored/moderated communication channels.
* Not yet (2017 July) decentralized, has Coordinator/Proof-of-Authority.

==Another comparison==
By Tony from Altcoin Spekulant Oct 6, 2016 interview:

{|
!Byteball
!IOTA
|-
|the ordering of transactions is based on main chain
|IOTA uses PoW
|-
|there is no chance of orphaning
|parts of the DAG can be orphaned
|-
|there are deterministic criteria when a transaction becomes final
|there are no exact criteria, it is still probabilistic, based on intuition
|-
|has multiple assets and smart contracts
|is a single token currency with only plain payments
|-
|there are assets that are transferred privately
|all payments are public
|}

==See also==
* https://iota.org/ Website
* https://www.reddit.com/r/ethereum/comments/6h2jut/have_ethereum_devs_considered_tangle_dag_instead Tech discussion
* https://www.reddit.com/r/Iota/comments/6h3sc8/what_are_the_cons_of_iota Tech discussion
* https://multicoin.capital/2018/01/23/iota-miota-analysis Analysis from Multicoin
* https://medium.com/@thedrbits/why-i-also-find-iota-deeply-alarming-99d4f2da3282 Medium article
* https://shitcoin.com/iota-cannot-be-used-for-iot-loss-of-funds-may-occur-e45b1ed9dd6b Technical review 2018-02-09
* https://medium.com/@kaykurokawa/iota-doesnt-scale-fff54f56e975 Technical review 2018-02-09
* https://crypto.bi/tape/blog/iota-collisions IOTA hash collisions could have wrecked the network if it were decentralized
* https://medium.com/@noahruderman/a-summary-of-why-iotas-refutation-of-a-vulnerability-by-dci-labs-is-absurd-128e894781b1 2018-03-04 article

==References==
<references />

[[Category:Browse]]

@@ Line 1: / Line 1: @@
-This article is a comparison of Byteball and IOTA.
+This article is a comparison of Obyte and IOTA.
-== Byteball ==
+== Obyte ==
-* First cryptocurrency with DAG-structure to trade on exchanges, 2016 late December.
+* First cryptocurrency with DAG structure to trade on exchanges, 2016 late December.
 * Does not require proof-of-work
 * Decentralized, not fully trustless. Has 12 witnesses, trust required that majority will not conspire together, users select and can replace witnesses see Witness
 * Fair, open initial distribution by proving BTC ownership, spanning a year
-* Has fee, the amount of data to store in the network is the amount of currency, bytes, to pay. To store a transactions costs about 520 bytes, full nodes and witnesses colllect/split the fee.
+* Has fee, the amount of data to store in the network is the amount of currency, bytes, to pay. To store a transactions costs about 520 bytes, full nodes and witnesses collect/split the fee.
 * To pay for goods/service of value 52 000 bytes, the fee would be 1%. Bytes are traded in 1 000 000 000 (1GB) as of (June 2017), total supply is 1 000 000 000 000 000 or <em>1 petabyte</em>. For todays price of $700 for 1GB, the fee of 600bytes (high estimate) is $0.0004. For fee to be $0.4, the price of 1GB would be $700 000.
 * Declarative smart contracts, oracles, user-defined (private) assets, immutable data-storage.
@@ Line 29: / Line 29: @@
 {| class="wikitable"
 |-
-! Byteball !! IOTA
+! Obyte !! IOTA
 |-
 | The ordering of transactions is based on main chain || IOTA uses PoW

← Older revision	Revision as of 22:19, 19 January 2019
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@@ Line 27: / Line 27: @@
 By Tony from Altcoin Spekulant Oct 6, 2016 interview:
-{|
+{| class="wikitable"
 |-
-|the ordering of transactions is based on main chain
+! Byteball !! IOTA
 |-
-|there is no chance of orphaning
+| The ordering of transactions is based on main chain || IOTA uses PoW
 |-
-|there are deterministic criteria when a transaction becomes final
+| There is no chance of orphaning || Parts of the DAG can be orphaned
 |-
-|has multiple assets and smart contracts
+| There are deterministic criteria when a transaction becomes final || There are no exact criteria: it is still probabilistic, based on intuition
 |-
-|there are assets that are transferred privately
+| Has multiple [[asset]]s and [[smart contract]]s || Is a single token currency with only plain payments
-|all payments are public
+|-
 |}