On that Congress, she gave a very nice talk about scalability, analizing the ways in which the Tangle overcomes Blockchain’s limitations.Īfter the Congress we kept in touch (Olivia speaks spanish very well) and I promissed myself that I would try to get her to give IOTA Hispano an interview.Įven though the work being done by Olivia Saa and Serguei Popov is not the kind of stuff you read on your weekly news IOTA resume, it is fundamental for the project development and has a big impact in aspects everyone cares about, such as the Network status and the Coordicide.ĭaniel De Michele IOTA Hispano Founder If you like what we are doing help us to continue working! Donate: Tell us a bit about your background and how you ended up being interested by the DLT world This is not an opinion this is first principles.Ī tangle of autonomous data structures will connect and shape the universe.Some weeks ago we were at Blockcrypto, San Pablo and had the opportunity to meet Olivia Saa, part of the IOTA research team working with Serguei Popov. The universe wants what it wants: maximum information flow through maximum energy flow and maximum complexity. No social movement, organization, or central authority can stop the physical forces moving this technology forward. The unscalable, fee-oriented data structures of inferior distributed ledgers are nothing more than information flow inhibitors serving as temporary development platforms in lieu of the tangle’s elegant distributed ledger solution. Memes, store of value narratives, stock-to-flow models, and network effects are irrelevant in the open-source, protocol agnostic world of assimilative fitness where the marginal cost of network migration is zero.
IOTA and MANA are therefore metamonies that iota will use for the autonomous purchase and issuance of secure information streams to maximize the information flow of the universe.Īs layer one of the iosphere’s trust architecture, the parallel reality based data structure will assimilate its iologically unfit opposition where they stand, and information and capital will flow faster than could have previously been imagined. The ability to purchase information streams with IOTA and issue information streams with MANA on the tangle at scale, without friction or permission, is the only living example of the distributed ledger value proposition in practice. What’s more, the killer distributed ledger application is the “thing” that maximizes information flow in the universe-making the scalable and feeless nature of the underlying data structure itself its own killer application.Ĭurrently only a single data structure is capable of meeting these demands, and it is quietly beginning to establish itself as the standardized base layer of the iosphere’s information economy. It is physically impossible, however, for any distributed ledger to maximize information flow in the universe without an underlying data structure that scales information exchange without fees or an intermediary. What we’ll call thermodynamic money, or metamoney, is a digitally conserved medium of exchange, store of value, and unit of account that promotes the maximum information flow of the universe.Īs autonomous economic agents, iota will not only require a metamoney to carry out their economic objectives through the purchase of secure information streams, but they will also require a metamoney for the secure issuance of information streams generated in their everyday economic actions. With the rapid, ever increasing growth of the digital economy, however, this traditional definition of money is now inappropriate for an autonomous world where capital can travel around the globe and back in a matter of seconds without human intervention. Throughout the agricultural and industrial ages, money was defined as a medium of exchange, a store of value, and a unit of account, often with gold and silver acting as the ideal, timeless forms of physical money.
It is not transaction fees, network effects, or programmatic monetary policies that give a distributed ledger its value-but the ability to purchase and issue secure information streams with real money at scale without friction or permission. Unfortunately, the distributed ledger community has confused the monetary value propositions of the minimally viable distributed ledgers with the distributed ledger value proposition itself. These are the three fundamental questions that participants in the distributed ledger space have reflected on for years-all while falling far short of the answers and their inescapable consequences. What is the distributed ledger value proposition? Is the elegant distributed ledger solution even possible? What is the killer distributed ledger application?
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