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      "body": "<h1>The blockchain does finance well. Allowing for the distribution of ledgers in order to absolve the current necessity for trusted intermediaries is revolutionary, however we must ask: can it do more than that? </h1>\n\nThe answer is of course a yes. Allowing for the verification of all sorts of exchanges of wealth can be adapted to legitimize supply chains for just about anything. Making the technology that allows for these sorts of networks and technologies to be implemented into the systems currently in place is a challenge, experiencing a rush of experts from fields all over working to make this a reality through careful deliberation and innovation. \n\nComing across IOTA https://iota.org/IOTA_Whitepaper.pdf brought up many new questions. Instead of using the blockchain technology for the proof of a fungible being transferred, something like the DAG (Directed Acyclic Graph) could be used. Called the 'Tangle' by IOTA, this DAG allows for essentially zero transfer fees through the replacement of blocks:\n\n<h3>\"Now, the main idea is the following: to issue a transaction, users must work to\napprove other transactions, therefore contributing to the network’s security. It is\nassumed that the nodes check if the approved transactions are not conflicting and\ndo not approve (directly or indirectly) conflicting transactions. As a transaction\ngets more and more (direct or indirect) approvals, it becomes more accepted by the\nsystem; in other words, it will be more difficult (or even practically impossible) to\nmake the system accept a double-spending transaction.\"</h3>\n\n\n\n<center>![DAG.png](https://steemitimages.com/DQmPF6J9YUTHsLtWGZeBtYDgrxCEvDgiQqe3b3bZSfHEirF/DAG.png)\n<h6>Directed Acyclic Graph.</h6> </center>\n\n\n\nThis all seems very similar to the blockchain, except one key thing: the transactions essentially verify themselves through existing, rather than the transactions being posted to a block which is verified through the subsequent mining of blocks thereafter. Both the technologies have their immediate strengths and weaknesses (IOTA's being a bit harder to decipher at this moment in time) however it is the approach that IOTA takes towards the Internet of Things that might prompt one to believe that there is a broader purpose for this form of cryptography within a network. The instantaneous transfer of value without the need for fees to keep the network afloat via rewarding miners makes it fundamentally more adoptable, but raises questions in the overall security of the network. \n\nReddit thread regarding security of IOTA/DAG architecture:\nhttps://www.reddit.com/r/Iota/comments/6gzkd2/iota_sounds_great_but_hows_the_security/\n\nWith all this being said, does the DAG simply have a different purpose than the perspective that many individuals are viewing it from? Verifying the transactions on the ledger through the existence of other transactions rather than the existence of miners is a very promising promise. That's why I am led to believe that an analogous ledger of commands being sent to and from IOT devices makes sense. Ultimately applications and integrations with this network must be engineered in a way that prevents spammed ledger entries from removing the weight of verifications from the original network of ledger entries. \n\nI look forward to your thoughts, as I am trying to piece this concept together into terms for feasible use cases.",
      "json_metadata": "{\"tags\":[\"blockchain\",\"bitcoin\",\"iota\",\"analysis\"],\"image\":[\"https://steemitimages.com/DQmPF6J9YUTHsLtWGZeBtYDgrxCEvDgiQqe3b3bZSfHEirF/DAG.png\"],\"links\":[\"https://iota.org/IOTA_Whitepaper.pdf\",\"https://www.reddit.com/r/Iota/comments/6gzkd2/iota_sounds_great_but_hows_the_security/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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