By Serguei Popov | Oct. 1, 2017
The paper presents an introduction and description of the Iota system, define the weight of a transaction, covers the issues of stability of the system, addresses possible attack scenarios, and discusses the system's resistance to quantum computations.
In this paper we analyze the mathematical foundations of IOTA, a cryptocurrency for the Internet-of-Things (IoT) industry. The main feature of this novel cryptocurrency is the tangle, a directed acyclic graph (DAG) for storing transactions. The tangle naturally succeeds the blockchain as its next evolutionary step, and offers features that are required to establish a machine-to-machine micropayment system.