As previously discussed, I'm doing the Certified Blockchain Professional course. It is self-directed learning, so I'm going through it at my own pace. In order to consolidate my learning, and help organise my thoughts, I'm blogging about my reflections on each module.
These are mostly notes to myself - but I hope if you find something interesting (or incorrect) that you'll leave a comment.
Can IOT record their data to a Blockchain? Probably not using PoW as they're too underpowered.
But there are advantages to recording in a decentralised way rather than reporting to a centralised "command and control" server. Centralised services might not be able to cope with billions of transactions. (hahaha!)
Similarly, storage will be cheaper if it is decentralised. (Why? How?)
Less risk of DDoS. (Note, Blockchain can and does suffer from DoS attacks.)
Devices can choose to pay each other for services. (Again, why?)
Answer the following questions.
- What is IOTA?
- A blockchain for IoT
- What problem it is trying to resolve?
- Costs are too high
- Data is centralised
- Uses Directed Acyclic Graphs rather than a single chain
- What are the common use cases of IOTA?
- None, really. Small sensors which need to record data in a semi-verified way. Perhaps in-car sensors?
- How does consensus work in the tangle?
- "The Tangle is IOTA's network. It immutably records the exchange of data and value. It ensures that the information is trustworthy and cannot be tampered with nor destroyed."
- For every transaction sent, a node must confirm two others using PoW.
- There is a central(!) co-ordinating node in the Tangle.