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- In a recent study by Cornell University, it mentioned that IOTA’s Tangle technology is robust enough against splitting and merging attacks.
- It also noted that IOTA can address the demand for absolute fairness and transparency as required in voting protocols.
Over the last few years, the blockchain industry has continued to mature further with new developments in the ecosystem. Blockchain developers have been specifically putting greater emphasis on applying decentralization to a greater scale so that it ensures fair and transparent treatment to all the stakeholders within the ecosystem.
Over the last few years, governance protocols and voting protocols have been gaining major traction as it pushes toward greater decentralization of the network. In voting protocols, nodes obtain opinions from a subset of other nodes and update their own views iteratively based on the fraction of sampled opinions. In traditional settings, it is assumed that all nodes hold the same weight.
Cornell University has recently published a new study wherein it investigates voting protocols that involve participants with varying weights, aimed at achieving fairness. Specifically, a voting protocol is considered fair when a participant’s influence on the final outcome is proportional to its weight.
The research paper also talks of the concept of greedy sampling which is more robust and performant. Cornell University conducted a study to explore the fairness of voting protocols that utilize greedy sampling. They proposed a voting scheme that is asymptotically fair for a wide range of weight distributions. To complement their theoretical discoveries, they presented numerical results and put forth various open questions and conjectures.
IOTA’s Billions Dollar Use Case
As we know, IOTA has been using the Tangle technology which is nothing but a direct acyclic graph (DAG) consensus algorithm. The IOTA Tangle technology “improves security, mitigates performance issues, and eliminates any single point of failure”.
The Tangle technology is a DAG designed to enable microtransactions due to its unique characteristics. As IOTA is predominantly developed for the Internet of Things (IoT) environment, a highly functional decentralized protocol is necessary to support various transactions with minimal delays.
In its study, Cornell University notes that IOTA’s Tangle technology is ideal for handling different voting protocols and robust enough to ensure decentralization. In its research paper, the university noted:
Our initial motivation for this paper was to show that the consensus protocol used in the next generation protocol of IOTA, is robust against splitting and merging.
New Research paper published! Congratulations @NaitsabesMue & team 🎉 .
You can read it here:
🔗 https://t.co/I8WDtLl5p0 https://t.co/6GVubdetS5— IOTA (@iota) May 10, 2023
The IOTA network has been the preferred choice for many in addressing real-world use cases, especially for organizations working in supply chains and the Internet of Things (IoT). These industries specifically have a strong need for real-time data sharing and IOTA’s robust Tangle technology has emerged as the most preferred choice.
