From Blockchain to Tangle

(Andy Wootton) #1

I’ve been to a couple of Blockchain talks, The first was at Tech Wednesday; the most recent at JS Brum. @DaveDev and I discussed our serious concerns about the energy requirements of Blockchain. On LinkedIn, Dave MacDonald, ‘Deep Learning researcher, neural network architecture, founder of Toronto AI’ said:

“Blockchain is obsolete - the Tangle (directed acyclic graph) is the future. No miners (i.e. eco-friendly), it scales automatically (unlike blockchain’s fixed scaling limits), and no transaction fees.” It comes from the IOT domain. Dave MacDonald knows TensorFlow.

If you were thinking of putting time into learning about Blockchains, I think you might like to check the Tangle out too

I haven’t read it all but it appears to be targeting @sil’s concern that the cost of making a micro-payment transaction must not be as high as the transaction itself.

(Jon) #2

Ooh, interesting. I need to read up on Blockchain to understand why this one is better, I guess.

From an economic perspective, I wonder if it would be possible to have a number of digital currencies, like we have many real currencies now? I wonder if there is some safety in plurality.

(Andy Wootton) #3

Spread betting? Diversified risk? Yes. I’d think about spreading it further than money :slight_smile: A few years ago, I was seriously thinking about buying a forest. In purely financial terms it would have been the best investment I ever made - and I’d have owned a forest!

I’ve heard economists say that we got in trouble when finance stopped being backed by physical assets. Bitcoin only seems to be backed by some fairly burned out server farms. The energy that made the crypto happen just got burned.

The only Unit Trusts we ever invested in were Japanese new companies and Tech, just before the Japanese economy tanked and the .com crash. They’ve just sent me a newsletter recommending the same. We must be on the edge a Great Tech Leap Forward again.

(Andy Wootton) #4

Or an AI Winter, as Holly suggested Watch the talks from November's HydraHack

(Andy Wootton) #5

I just saw a ‘Tangle Visualizer’. The article suggested that if you changed the point of view so you saw the tangle moving towards you, you would “finally understand” the IOTA logo which appears to be 3 strands of 3 strands, intertwined. Curiouser and curiouser.