| json_metadata | "{"app":"Musing","appTags":["cryptocurrency","crypto","blockchain","cryptography","bitcoin",""],"appCategory":"cryptocurrency","appTitle":"Is there any Cryptocurrency that doesn't require a Blockchain ?","appBody":"<p>Yes. The blockchain is not the only type of distributed ledger in existence.</p>\n<p>Iota and Byteball, for example, are based on a data structure called directed acyclic graph (DAG). That term simply means a structure that can be described as nodes and directed arcs between them. The structure is acyclic which means that once you leave a node, you cannot go back using another route. Each node represents a transaction. The difference between a DAG-based distributed ledger and a blockchain is that a blockchain is always linear. In IOTA, the network is called a Tangle. In an IOTA tangle, each node transaction is approved by two previous transactions. How that is done is explained in detail in the article that I link below. The essential thing is that transaction validation is quite a bit more distributed than in the blockchain and the system is designed to be more scalable.</p>\n<p>https://blog.iota.org/the-tangle-an-illustrated-introduction-4d5eae6fe8d4</p>\n<p>The security of IOTA has been criticized heavily. It uses a centralized validator called the Coordinator that is supposedly a temporary solution. </p>\n<p>https://medium.com/@ercwl/iota-is-centralized-6289246e7b4d</p>\n<p><br></p>","appDepth":2,"appParentPermlink":"fkhmzehl5","appParentAuthor":"philipkavan","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
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