July 19, 2018 – ,
Bitcoin took the world by surprise in the year 2009 and popularized the idea of decentralized secure monetary transactions. The concept behind it, that is the Blockchain, can be extended further beyond a linear chain.
While there are many applications that build on Blockchains, for example using the Ethereum Blockchain, the generated transaction fees make it unusable for IoT and micropayment applications. This problem of Blockchain systems is approached by a technology called the Tangle which is based on a DAG (directed acyclic graph) used in the cryptocurrency IOTA (https://www.iota.org/) or the microservice operating system called Constellation (https://constellationlabs.io/).
The idea behind this thesis is to describe and analyze the theory behind the Tangle and show the benefits of using the Tangle when compared to classical blockchain technologies especially in the context of IoT micropayment systems. In addition (optional) methods for including smart contracts in iota should be developed
Keywords: IOT, tangle, IOTA, Blockchain
Research Area(s): Self-organizing Systems & Overlay Communications
Tutor: Amr Rizk, Paul Müller