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How does IOTA work?

2438 ratings | 79954 views
Blockchains are so 2017. 2018 will be all about BlockDAGs. I'll explain a cryptocurrency system called IOTA that is getting really popular and how it differs from a traditional blockchain. At the end I'll show you how you can buy some. Code for this video: https://github.com/llSourcell/IOTA_demo More learning resources: https://learn.iota.org/tutorials https://learn.iota.org/tutorial/payments-and-messaging-leaderboard https://www.youtube.com/watch?v=MsaPA3U4ung https://iotasupport.com/buyingiotaotc.shtml https://iotasupport.com/gettingstarted.shtml Please Subscribe! And like. And comment. That's what keeps me going. Want more inspiration & education? Connect with me: Twitter: https://twitter.com/sirajraval Facebook: https://www.facebook.com/sirajology Join us in the Wizards Slack channel: http://wizards.herokuapp.com/ And please support me on Patreon: https://www.patreon.com/user?u=3191693 Instagram: https://www.instagram.com/sirajraval/ Signup for my newsletter for exciting updates in the field of AI: https://goo.gl/FZzJ5w
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Text Comments (665)
Siraj Raval (1 year ago)
No one paid me to make this video. I just think IOTA is cool.
Amit Nair (5 months ago)
can you make more videos on IOTA, Pyota , with some real example like when i click a button click of a button turns into a transaction and turns on the light on or of on a raspberry pi or just print "ON" or "OFF" on console.
Mark Freeman (6 months ago)
I don't understand the sentiment "screw Visa" - since IOTA is just another payments system that relies on blind trust - except unlike Visa, IOTA are not accountable to anyone. Furthermore, you only pay Visa fees as a merchant and as a percentage, whilst IOTA you need to invest money - Am I missing something? Where is the value proposition of IOTA and what game theory holds it all together? It seems like an expensive utopian testnet.
Chris C (11 months ago)
I too think IOTA is cool, but I reiterate my prior post. If transactions on IOTA Tangle are free how will they make money?? Additionally, if there are 2 QUADRILLION tokens (and there are, that's why they trade as MIOTA "millions") how much can a token be worth? Further, what utility does their coin have if not to pay for transactions on their FREE Tangle Network???? These are valid questions I cannot seem to find answers to, you are exceptionally smart, not innumerate for certain. So if maybe you can find or have some answers to these basic simple questions??
Chnoopsy2 (1 year ago)
Siraj Raval cool ? Really ? Ain't about more coolest or not here !
Viral Killer (1 year ago)
if you think it's cool, then I will buy 1000 more ;) tech verified!
Marcus Celsius (8 days ago)
Brian Baratheon (23 days ago)
I think you misspoke. You made it seem like it took 10 minutes to confirm transactions, one at a time from the pool of the over 200k unconfirmed transactions. If that were true, then the transactions would still be processing today. If 100 transactions came through at the same time, those 100 should have been confirmed within the 10 minutes. Though, I guess that depends on the fee you paid. Higher fees get processed sooner. Lower fees could take hours or more.
Dave Ahl (25 days ago)
found this IOTA video. it is related to your "problems with blockchain" video. Well done maybe update this video?
Kerem Yokuva (28 days ago)
it was a cool idea gone bad
Mir khaleq Ali (1 month ago)
IOTA Price Finally Seen Upward Movement http://www.coinhashreports.com/2018/12/iota-price-finally-seen-upward-movement.html
bariscan (1 month ago)
I am fan of you and your fascinating works, and it remains as is. However, very sorry to say that but the slurp sloppy mouth sounds during gulps make it reeaaaaallly hard to keep listening for me (and maybe many others like me who are sensitive).. I love you bro so please do not be offended.
Maga DzhabraFTW (2 months ago)
Can someone help me with running the code for this video? How do i get to the text siraj is reading from? this link https://github.com/llSourcell/IOTA_demo
Carino Nelson (3 months ago)
Great video! I wasn't sure to invest on IOTA but you made it clear for me. It's an awesome technology. The World Trade Organization mention IOTA as one of the coins could Revolutionize International Business. Keep up the great Job!!
Lorran Six (3 months ago)
Faz um video desse em português/BR por favor!
Mark Thien (4 months ago)
Cheap loser talking iota cheap chain
I heard curl-p (Iota's hash function) is broken… thoughts?
Michael Malish (5 months ago)
All that is cool . But when i think back and forward... I would say that this currency is centralized .. How come you can verify ACID process ( account, balance, previous transaction etc.. ) with bigger scalability but no reference to check it with ? there must be some back door.... otherwise it make no sense for me. Can you pls explain ? Thank you million times ! Michael
Mohammad Ali Maddah-Ali (5 months ago)
Can we have access to your slides/notes?
Un Garçon (6 months ago)
Thanks, nice video
Daniel Kuo (7 months ago)
Hi Siraj , Did you have make the tutorial , about how to build up the iri node in step by step?
Adam Fetters (7 months ago)
Could you do a video on how to create a DAG cryptocurrency? Not sure if that's on your level, i'm trying to figure it out on my own, but apparently there is a learning curve:)
Joost (7 months ago)
Don't forget to do your research on IOTA https://youtu.be/zSDbXHazMkc?t=5254
The development of the blockchain really well thought out. Many investors have already acquired tokens of the company.This platform is designed to provide high-quality services for ICO.They worked hard on the development of mobile and Internet applications in any programming language. The best way for this condition to earn tokens.https://tokengoplatform.com , https://t.me/TokenGo_EN and https://t.me/tokengogroup
James Croyle (8 months ago)
Absolutely excellent IOTA primer Siraj!
Martin Verrisin (9 months ago)
what prevents it from branching?
J Fbooke (9 months ago)
Iota is worst crypto. Mine was hacked. I lost all Iota. Iota foundation told me to shutup when I reported hack. Stay Away!!
usafa2000 (9 months ago)
#NoBlockchain. Go ahead. Make fetch happen.
Junhua Fan (9 months ago)
@Siraj Raval Hi Siraj. Nice video and clear explanation about IOTA. Btw, where can I download your IPython notebook? thx
Junhua Fan (9 months ago)
Just find it. :)))
Dani (9 months ago)
Thanks for that video! I am writing a seminar work for my school and this helped me a lot!
REALSLIK (10 months ago)
10 minutes per block not per transaction.
Ieru Lila Lokeni (10 months ago)
Iota is a name
Big Bearn (10 months ago)
Sell this system to the antichrist
William Maphanga (10 months ago)
Scenario (This may be a dumb question/scenario, bare with me): There are 3 nodes in the network, one node makes a transaction but has to solve two transactions for it to have "proof of work" so that its transaction can be approved. Let's say there isn't any transaction at the moment except that one transaction. What will happen? Because to me, it sounds like there need to be ongoing transactions to approve transactions.
itsdastuff (10 months ago)
biggie vs tupac west-coast/east-coast retardation in the comments. viva 2018!!
Zombie Drone (10 months ago)
Buy Iota here https://www.altcoin.io?kid=MBRKD
Interesting...!!!. Whats your opinion on INT ( Internet Node Token ) which claims to be better than IOTA. I have been looking into how their business model ( White Paper ) works. So far it's the IOTA of China but I believe it will soon go worldwide.I like your videos. Very informative..!!!.
Mr Bojangles (11 months ago)
similar to hashgraph
Marius Išaras (11 months ago)
N O (11 months ago)
Currently, 2,779,530,283 MIOTA tokens available. Who owns them?
Jason Rowland (11 months ago)
Nice video. One small factual error. Visa can process 24,000 TPS according to testing done by IBM in 2010. https://usa.visa.com/run-your-business/small-business-tools/retail.html
samacumen (11 months ago)
Hi Siraj. Thanks for the great video. Learnt some new things I didn't know about IOTA. Curious what all software tools did you use to create this nice video and which OS? Many thanks.
Krypto Addict (11 months ago)
nice class thx but what the frigg is that on your head? you dont need that brother makes you look unbright
Minting Coins (11 months ago)
Hey Siraj! Great great video! If you have the time can you do a comparison between IOTA and Raiblocks? Or just a video on Raiblocks so that we can see the differences?
Mario Passendorf (11 months ago)
IOTA.Wallet.Setup.2.5.6. how to generate own seed in this app ???
malachi simonyan (11 months ago)
Love your videos man thanks! Hackers stole 4 in IOTA Tokens just a day go :(. I love the model of iota esp. for supply chains.
George Thompson (11 months ago)
dwave systems are quantum already dude!!!!
Chris C (11 months ago)
If transactions on IOTA Tangle are free how will they make money?? Additionally, if there are 2 QUADRILLION tokens (and there are, that's why they trade as MIOTA "millions") how much can a token be worth? Further, what utility does their coin have if not to pay for transactions on their FREE Tangle Network???? These are valid questions I cannot seem to find answers to???
Mike Lo (1 year ago)
Siraj!!!! Please accept my personal compliment. You are the guy who explain the Blockchain with the clearest concept on Youtube.
Shane Potter (1 year ago)
I'm no expert but this sounds like a rebranding of hashgraph using different terminology.
William Getty (1 year ago)
Siraj, you are great at explaining complicated matters.
watan afg (1 year ago)
Iota is the future :) i have invested 2k
vizeet srivastava (1 year ago)
If there are no miners then it is premined..which means it is centralized... Great technology but we need mining...
aaguirre123 (1 year ago)
who are you really working for?
Max Smith (1 year ago)
Could anyone tell me, how much computing power is required to validate each transaction? As each person needs to validate 2 transactions, would this require each person using this ICO to have a high level of computational power?
Abhilash Pal (1 year ago)
Was your hair giving off sparks at 2:30 ?
李芳林 (1 year ago)
Nice video. Where can I get your PPT?
Michael S (1 year ago)
Dear All - after reading a few of the comments I stopped not likely all the negatively. as the technology innovates we need to adapt new ways of thinking, communicating and being with each other. Let's start NOW!
Michael S (1 year ago)
You rock! Thanks for making this clear. I love your passion and clarity!!!!
Jon The Hon (1 year ago)
I like the way your face flickers in the video. It makes you look like a holographic projection.
Shankar S (1 year ago)
why is it sold in bitcoins? and not sold in any currency? are they collecting bitcoins with this new entrant? saving for a big fortune?
Jake Moriarty (1 year ago)
I'm not the most technical person but, like many others, I'm learning a lot right now. My questions is this. Iota claims to be quantum resistant. If this is true why do they need the coordinator?
SkyDweller (1 year ago)
Binance closed off non referal registration, so here is my link for you: https://www.binance.com/?ref=13689071
Job Vermeulen (1 year ago)
Very good video! Thanks man
Vikas Ranjan (1 year ago)
Most thorough explanation I came across so far. Thanks for putting up the effort and great work. Is there any way to access the notes you go through in the video? Do you upload them anywhere? It can be a great reference.
MarkusAvrelius (1 year ago)
How does someone approve a transaction? You said that the speed increases more people sign up. And that's because they take part in verification of transactions. How does this work, how do I or my account verify someones else's transaction?
lizard450 (1 year ago)
Everyone this guy is a piece of shit. Anyone who says a network entirely controlled by one company is permission less and trust less is full of shit.
Ulf Aslak (1 year ago)
You're a fucking trooper Siraj. I have to be honest. Thought you were a bit much when I first saw your videos, but you are outputting so much good content these days, and I must commend you for that. I love the new informal style by the way. YouTube is too polished.
Siraj Raval (1 year ago)
thanks Ulf!
Artur Grzesiak (1 year ago)
Doing a vid on how technology works is fine, but actively suggesting to buy it is pretty fishy. Especially as IOTA is pretty controversial at the moment and people report serious problems getting their money back.
domnote (1 year ago)
But why would only 1 person have a quantum computer?
Jason Shin (1 year ago)
Siraj, I'm finding it very difficult to buy IOTA right now because I cannot register any of coin platforms have disabled account registrations. How do you buy IOTA right now?
pulinho (1 year ago)
But how are new coins generated if theres no mining?
sonho (1 year ago)
I really like your presentation (your .docx file?), could i have that ? I very appreciation.
Luciano Andrade (1 year ago)
How is that a bitcoin transaction is about U$D 1 in fee? I don get that.
woolfel (1 year ago)
crypto-currency is stupid and bad for the world. how much energy is wasted mining tokens. Blockchain is useful, but as this video explains, it's horrible from a technology perspective. It's a huge bubble.
Pranav Prativadi (1 year ago)
Does iota have smart contracts like ethereum??
marko markovic (1 year ago)
https://coinmarketcap.com/currencies/gcoin/#markets gcn coin thank me in 2020 when u be milionare !!! https://www.youtube.com/watch?v=6JvhMvZxskM
Keith McLean (1 year ago)
Can you do a video on ITC? It's been rising quite a bit over the past two weeks.
Dylan T (1 year ago)
countdown until iota is hacked, iota has a big 51% attack issue. You just need 51% of the branch! not the whole network!
user name taken (1 year ago)
https://medium.com/supercryptocurrency/iota-cryptocurrency-is-a-scam-heres-10-reasons-why-ca111de0f19aIOTA is a complete SCAM and this is an Astro Turfing campaign so they can pump it and dump it on IDIOTS that buy this scam shitcoin.
Prateek Vyas (1 year ago)
coinbase is not in India what to do what are best alternatives to buy bitcoin
Andre Hoffmann (1 year ago)
what is your view on Hashgraph? vs IOTA (DAG)?
Devyash Sanghai (1 year ago)
Is there any disclaimer? We're you sponsored to make this video?
Praveen Kumar (1 year ago)
Siraj, you said you studied about IOTA just yesterday and how come you came up with such numbers? Can you please tell us your approach to how to use Google effectively? Especially when we are specific about finding something about ML, AI etc..
Milorad Mickey (1 year ago)
Could you make a video about OmiseGo mate? Much obliged for outstanding content, by the way. ^_^
:Nicodemus - :Dean (1 year ago)
Great presentation . Subscribe.
Adrien Be (1 year ago)
Prob the most in-depth analysis article about IOTA https://steemit.com/crypto/@ipa-news/iota-analysis-in-details I hope you appreciate the quality: you can’t find this exhaustivity anywhere else. Please share this article if you like it. ;)
abab AAbb (1 year ago)
Binance currently has iota withdrawls suspended so you can't use them to get some
Damon S (1 year ago)
Bought ripple xrp and stellar xlm years ago and iota this year. Thanks Siraj for your video!!!
Aitor Plaza (1 year ago)
Hi, nice video. there is a small mistake: sqrt(2^68) = 2^34 and not 234
Zack Klapman (1 year ago)
How much room do you think there is in the market? So many alt coins (and the tech behind them) are trying to be the solution to BTC's slow transactions. But do we think only 1 will be chosen? If that happens, all the other coins/tech will likely be shuttered, no? I'm into several alts, but there's so many people rooting for each one, and so many of the coins advertise similar abilities. I'm just wondering if everyone expects there to be , say, 10 companies that still exist in 2019, or only 5, or 2, or 30?
Dan McNeill (1 year ago)
The "coordinator" should have been replaced by miners who produce a topological ordering of the DAG --- rewarding them with coins, of course. There is no way to get rid of some coordination to produce "checkpoints" --- because the scale of the DAG will be more than small machines can navigate. I.e. it doesn't scale.
Supremax67 (1 year ago)
First Flaw is more people on the network does not make it faster. You get to a point of saturation and whoever wrote that white paper is an idiot or simply wanted to hook the idiots on this crap. Second flaw is your coordinator. More transactions means more issues since everything checking coordinator, it also means that if you DDOS the coordinator, the entire network goes down. Third flaw stating there are no fees is also BS. Think about it for a moment. Who's going to stay online for doing the transaction? If the app is running in the background then people are paying electricity to accommodate the app. What was that, IOTA only runs the program when someone doing the transaction? Oh great, then I better make sure I do my transaction at the same time as someone else doing their transaction otherwise it won't complete or I'll wait. Fourth flaw with the program, they don't cover the issue of people logging in and out. How does the database repairs this issue? Do they run through the coordinator? Oh there you go, centralized system. I mean, is everyone that stupid not to see the crap that is IOTA.
akash kandpal (1 year ago)
Nice video Siraj .............we trust you :0
mpedzi031 (1 year ago)
Awesome videos man, very informative. I appreciate you taking the time to post these. I do have one question. What made you go full chipmunk at 9:35.?
Edivan Teixeira (1 year ago)
RaiBlocks much better :p
Taylan Bilal (1 year ago)
I don't understand the part about the "quantum attack". If quantum computers can try nonces faster, than miners will all use them, no? why do we need a mechanism to defend against that? did we need a mechanism to defend against gpus because they mine faster than cpus? if quantum computers become better at mining, so be it, we will just adjust difficulty.
Adrian Santos (1 year ago)
Really nice video!
邓尧 (1 year ago)
I would never trust a crypt hash function which hasn't been put to thorough test. IOTA seems to be using a "crypt" hash function of this kind, and claims it's quantum computing proof.
Tim Shinkle (1 year ago)
Centralized = fail.
Jayesh Prajapati (1 year ago)
Hi Siraj From this video, IOTA is super cool except temporary co-ordinator however there are few comments at the end of blog(https://medium.com/@giotto_3438/a-comparison-between-iota-and-streamr-343b3d9cd2ec) which are worrying! As per this link from Streamer advisor the IOTA dev. is considered to be not genuine. Any view on this from your side will be great to have. Thanks, Jayesh
Werner der Champ (1 year ago)
Bitcoin is over 20 dollars in fees at the moment, if you want your transaction to get accepted fast. If you are fair with waiting up to two hours, you are fine with 10 dollars, if you go below 4 your transaction might not get confirmed at all
Michael Mantion (1 year ago)
please note if you bought iota shortly after this video came out you would still be down 20% and the chart doesn't show indications of an increase. Im sure it will increase but not sure how low it will go first. Sure the idea of Iota seems cool, I just don't think its 12billion dollar market cap cool.
Michael Mantion (11 months ago)
Down about 50% and still no sign of long term price increase.
Ravi Sawhney (1 year ago)
Nice and timely video as I wanted to learn more about Tangle - good job Siraj.
Otto V (1 year ago)
Should've bought it on Binance and dropped your referral link like so: https://www.binance.com/?ref=11780285

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