Interview Series#4 IOTA

Q: Today we publish this Interview to know more about the progress of IOTA. Thanks for having the Interview David, please tell us more about the project IOTA. How is the progress going?

IOTA’s progress is going great, we are at the last stages of beta right now (0.9.3) with intensive ongoing testing and subsequent optimization. The Tangle works like it should so far, which we are very proud of. A lot of people were skeptical that it was possible to come up with and execute such a revolutionary rework of the distributed ledger, so we are very happy to say that it’s looking positive. In addition to this we are continuously teaming up with new companies, big and small that will soon be announced. So overall: IOTA is doing very well in terms of progress.

Q: The project is delayed for several months now. What exactly made this project need so much more time?

The project hasn’t really been delayed for several months, this is just people confusing the GUI (which was never even planned, GUI makes no sense for machines), with the actual beta testing. Actual beta testing began as expected in January. As for GUI delays, Murphy’s Law struck down and handed us 3 unreliable and useless GUI teams repeatedly.

Q: Tangle vs Blockchain, please tell us more about the new technology in IOTA.

The most immediate difference between Tangle and Blockchain lies in how transactional settlements get confirmed, instead of decoupling the verification from the users by introducing miners/stakers that almost always becomes centralized, and also needs compensation, we instead attach a small amount of confirmation/PoW that need to be computed. This allows IOTA to be the world’s first zero fee payment platform. There are other nuances that are way more technical, but in short in IOTA there’s no orphaned blocks or similar issues that affect the blockchain, this allows IOTA’s tangle to scale. Another thing we use (that regular blockchains also can adopt) is ‘snapshotting’, this feature allows the network to decide when to ‘snapshot’ the current tangle and start with zero storage requirement again like was possible at genesis. Everyone’s balances etc. will remain intact, but you keep the storage requirement down, which is important for IoT, but we also built it such that you can retrieve the full pre-snapshot Tangle again if you for some reason require all details of transactions/transfers in the future.

Q: What is exactly the timeline from now on and what goals do you have in this big project?

Right now our timeline is first the GUI beta, then establish the foundation,  launch (with new website) and then we’ll be revealing tons of collaborations that has been established since December and start working hard on prototypes with these companies. Additionally we’ll be having a Hackathon at the end of May with ChainOfThings and ElectricChain. The future roadmap is all about revealing this brand new world of IoT that IOTA enables to the projects and companies that can benefit the most from it.

Q: Do you recommend to buy and sell Iotatoken’s prelaunch from crowdsale participants and what are the safest ways to get those?

That’s up to each individual, if you want to purchase from someone on the forum/chat, use escrow at least. And when it hits exchanges, use a reliable exchange.

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