A Guide to Upcoming IOTA 2.0 (Coordicide) Terminology

A Guide to Upcoming IOTA 2.0 (Coordicide) Terminology

09:56 - 29/05/2020

iota.org

With the Coordicide specifications nearing completion, the research department has been communicating the specifics of the new protocol to the engineering department, external researchers, and the community. This communication requires simple and standard terminology for the new components. However, until recently, researchers, including myself, have mainly used potentially confusing “in house” and ad hoc names.

So, several researchers and engineers began devising proper terminology. Recently, we have completed this task and wish to share these names with you in this blog post.

The new IOTA Protocol is divided into three layers: the network, communication, and application layers. There are parallels between our layers and the top layers of the OSI model, although we caution the reader from deep comparisons. The network layer manages the connections and packet transmissions between nodes. The communication layer creates a standardized platform for storing and communicating information. Developers are then free to design decentralized applications on the application layer while abstracting away the lower layers.

The network layer

This layer manages the lower layers of internet communication like TCP. It is the most technical, and in some ways the least interesting. In this layer, the connections between nodes are managed by the autopeering and peer discovery modules and the gossip protocol.

The communication layer

This layer stores and communicates information. This layer contains the “distributed ledger” or the tangle. The rate control and timestamps are in this layer too.

In the communication layer, we see many new features of the protocol. First, our signature “tangle” will be renamed the message tangle, and objects called messages will replace transactions and bundles. Messages have a flexible format of variable size which are more efficient than bundles of fixed-sized transactions. Also, we will retire the names “trunk and branch”: each message references two other messages which we now call the parents.

Messages are issued by a node and then gossiped on the network layer. Besides the parents’ hashes, a message contains certain issuing information (issuing node ID, timestamp, etc), a payload that contains the data (more on this later), and the signature of the issuing node.

The term message was chosen to replace the term “transaction” because the IOTA Protocol is not just a value transfer application, but a platform for securely storing and transmitting data.

The application layer

The IOTA Protocol allows for a host of applications to run on the message tangle. Anybody can design an application, and users can decide which applications to run on their nodes. These applications will all use the communication layer to broadcast and store data.

However, every node will be required to run certain core applications that are necessary for the protocol to operate. These include for example

  • The value transfer application
  • The distributed random number generator (DRNG for short)
  • The Fast Probabilistic Consensus (FPC) protocol

These applications maintain the ledger state, and other applications can also operate on top of these applications.

Applications read and create messages payloads stored on the communication layer. We are developing a flexible framework to mediate this interaction.

Objects

The basic unit of data in the IOTA Protocol is called an object. Every object has a type and a size. Rigorously defined in a schema, the type specifies the fields the object contains and how they are arranged. The type also determines how a node parses the object.

Message is an object type. Another example is the generic data object which, as the name suggests, is just data. Each node maintains a list of the object types it recognizes and knows how to parse.

As with messages, objects can contain a payload field. A payload must always be filled with another object. While parsing an object, a node parses its payload according to its type. If the node does not recognize the type, it treats the payload as a generic data object. An object type can require a payload to have a certain type. Through payloads, objects can nest inside each other, creating a very flexible platform.

In order to be gossiped and stored in the message tangle, each object must be encapsulated inside a message, either directly as a payload, or indirectly as payload of some other object. Informally, a message with payload type X can be referred to as an X message.

For example, a supply chain application can define an object type called “delivery”. The payload of a delivery object could support two different object types: parcel and receipt. When sending a package, a user can issue a delivery message (a message with a delivery object) containing a parcel object describing the package. Each time someone receives the package, they can issue a delivery message with a receipt object which lists the hash of the parcel object.

Anyone not using the delivery application could simply treat all delivery objects as generic data.

However, everyone must recognize certain core object types used by the core applications. Core object types include

  • Value objects
  • FPC Opinion objects
  • DRNG objects
  • Salt declaration objects
  • Generic data objects

As previously mentioned, messages containing these objects can be called respectively value messages, FPC messages, etc.

All object types include a version number so that each application can be updated. The version number of a message indicates which version of the IOTA Protocol the message uses. Indeed, we think that the IOTA Protocol will be around a while and will probably change from time to time. Version numbers let the nodes manage interoperability between these different versions.

The value transfer application

The most important core application is the value transfer application which moves funds and updates the ledger state. This application uses value objects. Each value object references two other value objects, and so value objects form an additional Tangle on top of the Message Tangle, called the value tangle.

In the value tangle, references represent “approval” and record the outcomes of FPC votes. Roughly speaking, any value objects rejected by FPC will be orphaned in the value tangle. We separate the value and message tangles to reduce the innocent data lost in this process.

Each value object has a payload which only supports an object type called a transaction. A transaction contains the input transactions, the output addresses and balances, the mana recipient, a payload, and a signature. Since we are adopting a UTXO scheme, the term transaction makes sense: UTXO stands for Unspent (TX) transaction Output.

The payload of a transaction can support a plethora of object types such as smart contracts. Since the payload is signed, it is fundamentally part of the transaction. Per the UTXO scheme, different transactions which consume the same inputs conflict. Therefore two otherwise identical transactions will conflict if they have different payloads. Thus the payload is intrinsically bound to the spend. This functionality enables a wide variety of applications to be built upon the value transfer application.

Consider the delivery application example. When the receiver must pay for the delivered package, the receipt object could be contained in the payload of the payment transaction. Then the proof of payment would contain the proof of delivery, and either both are included into the tangle or neither are.

Glossary of terms

We now include a glossary of the new definitions in this document.

  • Application Layer: The top layer hosting all of the applications.
  • Core Application: An application that must be run by all users.
  • Communication Layer: The layer dealing with messages and the message tangle.
  • Core Object type: An object type which must be parsed by all users
  • Generic Data Object: The most basic object type. All unrecognized data objects are treated as this.
  • Network Layer: The most basic layer which manages the connections and gossiping between neighbors.
  • Message: The object type which is gossiped between neighbors. All gossiped information is included in a message.
  • Message Tangle: The collection of all messages.
  • Object: The most basic unit of information of the IOTA Protocol. Each object has a type and size and contains data.
  • Payload: A field in an object which can only be filled by another object.
  • Tangle: An append only data structure where each item references two other items.
  • Transaction: The payload of a value object. It contains the particulars of a transfer of funds.
  • Value Object: The basic object of the value transfer application
  • Value Tangle: The collection of all value objects.
  • Value Transfer Application: The application which maintains the ledger state.
  • Version number: Indicates the correct format of each type.

A Guide to Upcoming IOTA 2.0 (Coordicide) Terminology was originally published in IOTA on Medium, where people are continuing the conversation by highlighting and responding to this story.

ICON Releases Its Monthly Grant Recap For May 2020 – New Simplex Integration

ICON Releases Its Monthly Grant Recap For May 2020 – New Simplex Integration

07:53 - 29/05/2020

Oracletimes

ICON has been making headlines a lot lately due to their massive goal of interconnecting the world and the various achievements that the team has been able to mark so far. Earlier today, we’ve already addressed the fact that in order to be able to realize the blockchain’s maximum potential, the team at ICON wants distinct …
Here Are The Best Two Investments For The Next Decade

Here Are The Best Two Investments For The Next Decade

07:33 - 29/05/2020

Oracletimes

The crypto market looks good today with most coins, including Bitcoin trading in the green. A lot of people became interested in crypto in 2020 amidst the global crisis triggered by the coronavirus pandemic. Despite its massive fall in price from back in March, Bitcoin managed to boost its value in no time. At the …
Ripple Teams Up With SWIFT And Microsoft

Ripple Teams Up With SWIFT And Microsoft

07:17 - 29/05/2020

Oracletimes

Ripple has been making headlines a lot these days due to various achievements and efforts to boost the XRP ecosystem and to push the mainstream adoption of the digital asset as well. A few days ago, Ripple’s Marcus Treacher criticized the renewed delay in the introduction of the IOS 20020 standard by SWIFT. Ripple is …
ICON’s Interoperability Technology: Blockchain Transmission Protocol (BTP) Explained

ICON’s Interoperability Technology: Blockchain Transmission Protocol (BTP) Explained

07:05 - 29/05/2020

Oracletimes

There are a lot of projects that pop up in the crypto space all the time, and they’re competing to become the future home of all dApps. Projects are racing to prove the fact that they are the best and they always promise immediate scalability, transaction throughput, and more. ICON’s mission is to hyperconnect the …
Bitcoin Turnaround Is Here, Says Early Coinbase Investor

Bitcoin Turnaround Is Here, Says Early Coinbase Investor

06:55 - 29/05/2020

Oracletimes

Bitcoin is lingering above $9,500 at the moment of writing this article, and in visitors are patiently waiting for the king coin to break the important level of $10k. This is usually a massive FOMO-triggering level, and BTC has been retesting it more times this year. The crypto industry is about to enter a golden …
Guess Who’s Buying $29,900,000 BTC Per Week?

Guess Who’s Buying $29,900,000 BTC Per Week?

06:37 - 29/05/2020

Oracletimes

The crypto market looks great today following yesterday’s race of Bitcoin above $9,000. At the moment of writing this article, BTC is trading in the green and the king coin is priced at $9,506.40. Crypto enthusiasts are hoping that BTC will try and re-test the important FOMO-triggering level of $10k. Grayscale sees rising demand for …
Decentralization And Staking’s Popularity Is On The Rise – ICON Progresses In Its Quest For Hyperconnecting The World 

Decentralization And Staking’s Popularity Is On The Rise – ICON Progresses In Its Quest For Hyperconnecting The World 

07:29 - 28/05/2020

Oracletimes

ICON (ICX) made headlines recently due to the fact that the fresh project was able to outperform Bitcoin and more big assets. ICON is a project that has been born during the crazy ICO hype from back in 2017. This project aims to become a smart-contract and smart-economy platform – this is a sort of …
Ripple Success: New Platform Lets XRP Holders Be Their Own Bank

Ripple Success: New Platform Lets XRP Holders Be Their Own Bank

07:17 - 28/05/2020

Oracletimes

Ripple continues to make efforts to push the mainstream adoption of XRP and also to boost the whole ecosystem. The San Francisco-based firm was recently in the spotlight when Ripple’s chief technology officer David Schwartz said that the company is witnessing more demand for the ODL product that’s powered by the digital asset XRP. The …
Bitcoin Trades Above $9,100 – BTC Whale New Warning Issues 

Bitcoin Trades Above $9,100 – BTC Whale New Warning Issues 

07:03 - 28/05/2020

Oracletimes

The crypto market looks good today with Bitcoin and the rest of the digital assets trading in the green. At the moment of writing this article, BTC is priced at $9,167.64 and crypto enthusiasts are waiting for the king coin to re-test $10k once again. Popular BTC whale issues warning The popular Joe007 Bitcoin whale …

Devcon: Hacia Colombia en 2021

07:00 - 28/05/2020

Ethereum.org

Queridos Amigos, In our most recent update, we outlined what Devcon is all about and spoke to our renewed focus on growing the Ethereum ecosystem. Part of that focus is on making sure that, for all types of attendees, the next Devcon is all that we dream for it to...
ICON (ICX) And Chainlink’s Oracle Technology

ICON (ICX) And Chainlink’s Oracle Technology

06:36 - 28/05/2020

Oracletimes

ICON (ICX) has been in the spotlight during the past few days, as it’s been reported that the coin is slowly but surely becoming one of the favorite projects out there. More than that, ICX has also been showing the ability to outperform Bitcoin in the crypto market. The project’s main goal is to hyper …
Crypto Traders Are Losing To Long Term Investors, Binance’s Changpeng Zhao Says 

Crypto Traders Are Losing To Long Term Investors, Binance’s Changpeng Zhao Says 

06:24 - 28/05/2020

Oracletimes

The crypto market looks good today with the most important coins out there trading in the green. At the moment of writing this article, Bitcoin is also trading in the green and the king crypto is up by more than 3% in the past 24 hours. BTC is currently priced at $9,172.49. Active crypto traders …
Binance Launches ETH And XRP Options Trading 

Binance Launches ETH And XRP Options Trading 

06:09 - 28/05/2020

Oracletimes

Not too long ago, Binance was in the spotlight when the crypto exchange Binance.US announced the OTC feature for big traders. Catherine Coley, CEO of Binance.US announced this big event at the Consensus: Distributed – a virtual crypto conference hosted by CoinDesk. It’s important to know that participants will be able to facilitate trades for …
Tapping the Power of RippleNet Cloud

Tapping the Power of RippleNet Cloud

17:53 - 27/05/2020

Ripple.com

The world is being pushed toward a new paradigm where simple, everyday tasks and functions, often taken for granted, are becoming increasingly cumbersome. This is partly due to the ongoing COVID-19 global pandemic and its role in forcing essential operations into the realm of digital. But this is a paradigm we’re already familiar with. It’s … Continued

ICON Aims To Boost Network Security With Consensus Algorithm

ICON Aims To Boost Network Security With Consensus Algorithm

07:11 - 27/05/2020

Oracletimes

ICON was in the news when it’s been revealed that they recently released the 20th issue of the newsletter, which updates enthusiasts with news and innovative aspects about the ICON Network. There are some major updates that include the first selections for the P-Rep delegation, the contribution proposal letter release, and the security token infrastructure. …
XRP And Tesla Are Ready For Mass Adoption, AIKON CEO Says

XRP And Tesla Are Ready For Mass Adoption, AIKON CEO Says

07:00 - 27/05/2020

Oracletimes

Bitcoin has been the choice of a lot of investors during this pandemic, and interest in the king crypto has been on the rise this year. Despite the massive fall in the price of BTC back in March, the coin was able to recover, and more people have been looking at the project and seeing …
Ripple Expansion: XRP Settlement Platform Takes Over Europe

Ripple Expansion: XRP Settlement Platform Takes Over Europe

06:46 - 27/05/2020

Oracletimes

Ripple has been making efforts to boost the XRP ecosystem, and also to drive the mainstream adoption of the XRP-powered ODL. This is the On-Demand Liquidity product that used to be known as xRapid before a rebranding process at Ripple. Ripple’s CTO says there’s more demand for ODL Ripple’s chief technology officer David Schwartz said …
ICON Trades Above $0.33 Following Changelly Listing

ICON Trades Above $0.33 Following Changelly Listing

06:25 - 27/05/2020

Oracletimes

About a month ago, ICX enthusiasts celebrated that the coin became another important addition to Changelly’s expansive crypto catalog. This listing means that ICX can be changed to more than 150 coins and tokens that are available on Changelly and it can be also traded for USD, Euro, and GBP. The ICX token is a …
This Coin Is Poised To Surge By 700% In The Next Two Years

This Coin Is Poised To Surge By 700% In The Next Two Years

06:15 - 27/05/2020

Oracletimes

The crypto market is filled with coins with less or more potential in terms of pricing, but also in terms of use cases and adoption. Ripple‘s Brad Garlinghouse was saying back in 2019 that the price of a certain coin is not that important compared to its use cases and adoption, which are far more …
Bitcoin Trades Below $8,900 And Small Investors Are Buying

Bitcoin Trades Below $8,900 And Small Investors Are Buying

06:05 - 27/05/2020

Oracletimes

The crypto market looks bloody again, and most coins are trading in the red. At the moment of writing this article, Bitcoin is also trading in the red and the coin is priced at $8,880.44. Small investors are buying BTC Bitcoin fell during the past days and it’s been revealed by Coindesk that the small investors …
Selv Demo — A Digital Health Passport

Selv Demo — A Digital Health Passport

15:53 - 26/05/2020

iota.org

Selv Demo — A Digital Health Passport

The IOTA Foundation combined forces with the world’s largest law firm Dentons in the Financial Times’ Global Legal Hackathon to “innovate solutions to the most pressing legal, regulatory, and civil society challenges posed by the COVID-19 crisis”. Together, we created a demonstration of how digital identity can give individuals control over their health data and its authenticity be guaranteed through IOTA. The architectural design of IOTA Identity has been validated by Dentons privacy lawyers, paving the way towards a full-scale solution.

Hackathon

The Global Legal Hackathon took place from April 27th to May 22nd. Dentons and the IOTA Foundation worked together on a mobile app and demo website, answered legal questions surrounding digital identity, and devised a plan to bring IOTA Identity to scale. IOTA Identity empowers individuals with control over their personal data, including health credentials, such as COVID-19 test results and vaccinations. The solution is GDPR-compliant, as reviewed by the Data Privacy lawyers of Dentons, allowing governments to deploy a privacy-first health passport.

Check out the results in the hackathon gallery.

https://medium.com/media/f85dadba491f61dfe975ab8f2b49596b/href

Selv

Selv gives you control over your digital identity and allows you to store, manage, and share verifiable personal credentials. The hackathon presented a great opportunity to explore the possibilities of Selv in the COVID-19 pandemic and demonstrate the notion of a health passport. Selv has a number of strengths:

  • Free & Accessible: The app is free and will be open source. There are no fees involved in using it.
  • GDPR-Compliant: Selv is a decentralized system for managing health and other personal data. The app and its use of IOTA are GDPR compliant.
  • Private & Secure: All personal data is encrypted and stored on the user’s device. The solution will be fully audited by external security consultants.
  • Scalable & Interoperable: Selv follows the W3C specifications on identity.

Try the Selv demo

The Selv demo comprises a mobile app (iOS and Android) and an accompanying website. It explores a narrative around the safe reopening of workplaces and international travel. You acquire your COVID-19 test results from your National Health Authority, before sharing them with your employer to prove you are fit to work, and later to a visa agency to prove you are fit to travel.

https://medium.com/media/11d90aee52884977e4773d44ff5eb8b2/href

Beyond the Hackathon

Selv’s utility extends beyond the COVID-19 pandemic and is a great platform for educating our partners and community on the potential of IOTA Identity. Selv will have additional narratives depending on the interest of external parties. These narratives allow our partners to experiment with digital identity and explore how they can improve their business models. Selv is the first IOTA identity application, and provides a base for other interoperable identity wallets, such as Schluss, to integrate IOTA.

Next steps

We are currently working on a full specification for IOTA Identity. A core identity library is being built to replace the experimental identity.ts, as well as a set of tools and libraries for easy integration. More information about our digital identity solution can be found in our whitepaper.

If you are interested in exploring how IOTA Identity can help your organization, please reach out to us at selv@iota.org. Join the discussion in the #identity channel on our Discord.


Selv Demo — A Digital Health Passport was originally published in IOTA on Medium, where people are continuing the conversation by highlighting and responding to this story.

ICON (ICX) Becomes The Crypto Darling, Outperforming The Market

ICON (ICX) Becomes The Crypto Darling, Outperforming The Market

13:50 - 26/05/2020

Oracletimes

The day before, the crypto market looked really bloody, with most of the coins trading in the red. Today, in the morning, things have changed, and Bitcoin, together with most of the altcoins, were trading int he green, but now, the market is getting bloody once more. On the otheer hand, it seems that the …
ICON Network Update: 20th Issue Of Its Newsletter Brings Innovative Aspects About The Network

ICON Network Update: 20th Issue Of Its Newsletter Brings Innovative Aspects About The Network

13:31 - 26/05/2020

Oracletimes

As crypto enthusiasts probably know by now, the security token sector just got more competitive thanks to the ICON Foundation. Not too long ago, the group released a strategic partnership with the Lichtenstein crypto exchange LCX, and the two companies are sharing valuable insight on the security token infrastructure, regulatory technology, and also compliance solutions …
Bitcoin Billionaires Hold Huge Amounts Of Ethereum (ETH)

Bitcoin Billionaires Hold Huge Amounts Of Ethereum (ETH)

06:33 - 26/05/2020

Oracletimes

Interest in Ethereum has also been on the rise a lot this year, despite the fact that Bitcoin continues to be seen as a safe haven. The crypto market welcomed more investors in 2020, despite the global crisis triggered by the coronavirus pandemic. The Winklevoss twins hols massive amounts of ETH The Winklevoss twins are …
Bitcoin Warning: BTC Could Drop To $3,000 Before Racing To $150k – New Satoshi Nakamoto Rumors 

Bitcoin Warning: BTC Could Drop To $3,000 Before Racing To $150k – New Satoshi Nakamoto Rumors 

06:24 - 26/05/2020

Oracletimes

Bitcoin managed to recover a few its yesterday’s losses, and at the moment of writing this article, the king coin is trading in the green, and it’s priced at $8,909.18. Bitcoin pullback on the way A crypto analyst who warned traders about the 2019 Bitcoin massive correction said that he believes that there’s a similar …
Crypto Poses Danger To Dollar And SWIFT, JP Morgan Says

Crypto Poses Danger To Dollar And SWIFT, JP Morgan Says

06:10 - 26/05/2020

Oracletimes

It’s been recently revealed that the analysts from JP Morgan are warning that the rise of crypto may hurt the dominance of the US dollar and SWIFT as well. The importance of the US dollar The US dollar is the world’s reserve currency, and it’s giving the US geopolitical power and easy access to capital. …
Altcoin Season Begins, Crypto Analysts Predict 

Altcoin Season Begins, Crypto Analysts Predict 

05:51 - 26/05/2020

Oracletimes

At the moment of writing this article, the crypto market managed to recover a bit from yesterday’s drop. Most coins are trading in the green and Bitcoin is no exception. Now, the king coin is priced at $8,909.18. The altcoin season may be around the corner The altcoins are also trading in the green, and …
Ripple’s Instant XRP Settlelemt Platform To Shake Digital Revolution, MoneyGram Exec Says

Ripple’s Instant XRP Settlelemt Platform To Shake Digital Revolution, MoneyGram Exec Says

06:54 - 25/05/2020

Oracletimes

Ripple and the digital asset XRP have been making headlines a lot lately, due to all kinds of important achievements and bold plans. Recently, it’s been revealed the latest Ripple success: CEO of crypto exchange BTC Markets said that the company’s XRP remittance and trading volume is surging really quickly. In terms of pricing, XRP …
Bitcoin New $30k Prediction Goes Viral

Bitcoin New $30k Prediction Goes Viral

06:31 - 25/05/2020

Oracletimes

Bitcoin’s price has been dropping since the day before, and at the moment of writing this article, BTC is trading in the red and the king coin is priced at $8,793.45. It’s been revealed by the latest data coming from Glassnode that Bitcoin miner capitulation is underway and the results are showing already. You may …