- According to Hans Moog, developer for the IOTA Foundation, the July upgrade to Chrysalis will make IOTA the fastest and safest Distributed Ledger Technology (DLT).
- In the Tangle multiverse, IOTA could achieve a Byzantine fault tolerance of 99%.
Last week, IOTA co-founder David Sønstebø expressed his optimism about the progress of IOTA’s development and standardization when he stated that “80 percent is still happening behind the scenes”. In doing so, Sønstebø revealed that a large part of the partnerships and already planned use cases of IOTA Tangle technology are still kept secret.
Yesterday another leading figure from the IOTA Foundation took the floor and further fuelled the hype about the project via Twitter. Hans Moog, developer at the IOTA Foundation, explained in reference to the recently announced two-step introduction of Chrysalis:
The first and most important parts of chrysalis that are planned to ship some time around July will be a quantum leap for IOTA and people will finally be able to “see and feel” where the project is heading. And it will just be the beginning ..
IOTA will be the safest and fastest DLT
With this, Moog was not at an end with his bullish news. He explained that the introduction of Chrysalis will make IOTA not only the fastest but also the safest Distributed Leather Technology (DLT):
This btw. also means that the first parts of chrysalis that are going to ship in july will not only turn IOTA into one of the fastest and most reliable DLT’s in existance but it will also turn IOTA into one of the most secure DLT’s that exist.
The explanation for this pugnacious statement, according to which IOTA could, for example, exceed the security of the Bitcoin network with the Chrysalis update in July, was previously provided by Moog in a series of tweets. As the developer explained, the basis for this is how the IOTA Tangle achieves its consensus. The basic idea goes back to a paper on distributed consensus published in 1999 entitled “Byzantine-Resistant Total Ordering Algorithms”.
According to Moog, the scalability trilemma (scalability, security and decentralization) is due to the total order that blockchains require. By eliminating this, as IOTA does with the Tangle, a 99% Byzantine fault tolerance can be achieved, according to Moog:
I claim that by getting rid of the “total order” requirement, we can not only make these principles work in an open permissionless setting but we can even reach 99% byzantine fault tolerance, which means that not even somebody controlling 99% of the votes can break the system. […]
Total order is not only overrated but the very reason for the scalability trilemma.
Moog also pointed out that the concept of the 99% Byzantine Fault Tolerance Consensus has already been explored by Ethereum inventor Vitalik Buterin in a blog post from August 2018. For IOTA, the implementation of this concept means that even an attacker with 99% of all votes cannot control the system, as the mana voting protocol could prevent this in the future:
In a way, even the coordinator is already using such a consensus mechanism. If somebody would ever “hack” the coordinator, then he would not be able to double spend as the nodes would reject such double spend since they “know what the coordinator knows” and would therefore simply “crash”.
Instead of “crashing”, nodes in multiverse would just “ignore” such a decision and follow the next highest mana holders.
