Foundations of Blockchain

Design

For each new transaction, two random, unconfirmed transactions are validated in the Tangle. Each validation of a transaction increases the likelihood of a transaction being genuine. Each transaction should receive a certain number of validations in order to be accepted as a confirmed transaction. In an IOTA Tangle, a few transactions will have fewer validations, whereas others will have a sufficient number of validations.

The user must validate two other randomly selected transactions in order to send out a created transaction. This transaction should later be verified by the other users. As every node contributes to the decentralized ledger, its architecture is inherently decentralized. IOTA works with a coordinator that will confirm ...