February 2018
Intermediate to advanced
288 pages
6h 58m
English
Content preview from Ethereum Smart Contract Development
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Tangle demystified
Tangle is a new data structure based on direct acyclic graph. This data structure has no blocks, no chains, and no miners.
So how does a public ledger on Tangle achieve consensus or validate transactions in the absence of miners? This is achieved by involving the user who wants to make a transaction validate and approve two past transactions. This unique way of attesting two past transactions ensures the whole network achieves consensus on the current state of an approved transaction.
An Iota transaction can be broken down into three distinct steps:
- Signing: We sign the transaction inputs with our private keys.
- Tip selection: Markov Chain Monte Carlo (MCMC): This method of sampling is used to randomly select two tips, ...
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