1/20/2024 0 Comments Visualize iota tangleHowever, transaction 5 only has a cumulative weight of 1, therefore the walker will not continue on this path. In order to approve tip number 13, the walker needs to walk to transaction number 5. The approvers could both be direct or indirect approvers. It means that the higher the number of approvers, the higher the cumulative weight and vice versa. Here we introduce a term called cumulative weight to denote the number of approvers of the transactions. The bias strategy involves choosing a path that has the highest approved transactions over the path that has very few approved transactions. Weighted random walk uses the bias strategy to select the path towards a particular tip. The method is called the weighted random walk(WRW). Therefore, IOTA opted for the persuasion method. It implements a built-in incentives system that rewards the participants to approve the recent transactions. However, this coercive way is against the principles of decentralization and democracy, the core essence of decentralized ledger technologies. How should we overcome the ‘Lazy Tips’ phenomenon? We might impose a rule that requires all incoming transactions to approve the recent transactions. In such situation, the Tangle structure will just stop propagating and eventually crumbles. In the diagram above, we notice that the transactions 30 to 38 chose to approve very old transactions, leaving transactions 25 to 29 unapproved, or became orphans. If there are too many lazy tips exist in the system, the Tangle will become stagnated or simply failed, as illustrated in the diagram below. Their behaviors would not even be penalized by the IOTA system. If we employ the unweighted random walk selection method, these two tips have equal chances to get approved as other tips. With reference to the diagram above, transaction 17 and transaction 18 are lazy tips as they only approved some old transactions, as shown clearly in the diagram. Instead, they choose to broadcast its transactions based on old data. We label them lazy tips because they could not be bothered to update the latest state of the IOTA Tangle network. Lazy tips are tips that choose to approve some old transactions rather than actively looking to approve new transactions. The main issue of using the URW algorithm is the occurrence of lazy tips. In this article, I shall introduce the concept of WRW with the help of some illustrations. Fortunately, there is a better tips selection method known as the weighted random walk(WRW). However, URW has its weakness that could crash the IOTA ecosystem. Still, stripe is a costly payment provider and may prove not cost-effective in a pay per content situation.In the previous article, I have introduced the concept of tips selection using unweighted random walk (URW) algorithm. So maybe it would be better to build a pay per content solution with it within ghost (?) other than using my gateway approach. But as far as i know it is already part of the ghost stack. I don’t have much experience with stripe. it is less known around the world, that’s right. On top IOTA is very well known and connected here in the DACH region as a non-profit based in Germany. Waiting an hour (bitcoin) or minutes (ethereum) for a transaction to confirm is out of question when you want to buy just an article for a quick read. Speed: other than my slow test_wallet in python, the official wallet needs around 2 seconds for a transaction.even if a million blog users use a such system at the same time it wouldn’t be an issue → still fast and feeless Scalable: other than blockchains, the IOTA Tangle scales, i.e.Other than that it was the initial idea to implement a feeless version because all other solutions are costly (paypal, stripe, patreon, onlyfans etc.) Feeless: if paying for a post the price should range in the sub one dollar region, so any fee at all would destroy the incentive to use a pay per content offer. ![]() The reasons i chose IOTA are the following: The rest stays the same I encourage you to fork the repo, maybe we can build a multi crypto version together. Just exchange the iota client with another and listen to a given address. I have not yet planned to integrate other cryptos, but porting the implementation should be fairly easy:
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