IOTA’s Tangle will power IAMPASS biometric authentication for digital ID.
IOTA’s open source Tangle will power IAMPASS biometric authentication for digital ID.
IAMPASS uses a person’s palm vein pattern as means of identification on Tangle. Tangle's a permissionless distributed ledger makes identity not only portable, but also give users access and ownership over their own data.
IAMPASS is another piece of Smart City initiative. IAMPASS offers an solution for generating immutable audit trails for high-security environments, including data centers, airports, and stadiums. other use cases include facility access points, smart car charging, and asset management.
"Tangle’s unique features such as lack of miners or transaction fees, and its scalability, make it a natural choice for us," said Nino Ulrich, co-founder of IAMPASS.
IOTA-ISO: a hybrid between ICO and kickstarter
IOTA has proposed a way of avoiding tokenizing that might result in regulatory scrutiny by having IOTA native token as its basis for funding. funders buy a future service by participating in funding rounds and they are entitled to receive services or other IOTA based products.
IOTA’s TomTom explains how entire project can be controlled using smart contracts. Firstly, project owners and participants of funding create IOTA wallets where they can send and receive IOTA token. Secondly, the participants create receipt wallets where they hold their receipt tokens as proof of rights. these receipts are only sent from one wallet to another when an agreed amount of IOTA tokens is received as payment.
after suffering a 51 % attack, Horizen has a solution.
Horizen (formerly ZenCash) has proposed a way to head off 51 % attacks. it could help those without massive hashing power.
51 % attacks happen when a attacker submits a transaction and then sends another contradictory transaction before it is confirmed by network. the attacker then attempts to mine a few blocks including the second transaction. he then submits those blocks after the first transaction is accepted by receiver. his chain will include the second transaction before the first, invalidating the first transaction. if the attacker can make his chain the longest, the network will determine that the attacker’s chain is legitimate.
the attacker has to mine in private. as any real time changes will be noticed by the network. Horizen’s solution is to add a penalty to any privately mined chain comparable to how many blocks it has mined before being submitted.
altcoins serve as a vital proving ground for solutions and new ideas. if those coins are susceptible to 51% attacks, then there will be little incentive for developers to work on that level. if Horizen’s proposal proves effective, it could make many coins at risk of a 51 % attack more viable.