Tangle Definition
Tangle, in the field of cryptocurrency and blockchain, is essentially a technology that aims to provide an alternative to traditional blockchain systems. Instead of using ‘blocks’ to record and validate transactions, Tangle uses a directed acyclic graph (DAG) that allows transactions to be processed in parallel, increasing the overall efficiency and scalability of the network.
Tangle Key Points
- Tangle is a distributed ledger technology, an alternative to Blockchain.
- Its framework relies on a directed acyclic graph (DAG) for data storage.
- Tangle’s model allows for simultaneous processing of transactions, enhancing system speed and scalability.
- It was introduced by IOTA, with an aim to offer solutions for the Internet of Things (IoT).
- Unlike Blockchain, Tangle does not depend on miners and offers zero-fee transactions.
What is Tangle?
Tangle was developed and introduced by the IOTA Foundation, as an innovative technology, designed to provide a solution for issues like scalability and transaction fees in blockchains. Instead of organizing transactions into blocks and storing them in linear chains, Tangle’s technology, a directed acyclic graph (DAG), stores transactions in a web-like structure, allowing for concurrency in transaction processing.
Why Tangle?
The Tangle was developed to provide a solution to some of the key issues facing blockchain technology such as scalability and transaction fees. With Tangle, transactions are processed faster as the number of users increases. This solves the scalability issues common in many Blockchains. Additionally, Tangle eradicates the need for miners, thereby eliminating transaction fees, a revolutionary step in the digital ledger technology domain.
Where is Tangle used?
Tangle has been primarily deployed by the IOTA Foundation, focusing on the Internet of Things (IoT) industry. The zero transaction fees and scalability of Tangle make it an ideal distributed ledger technology for executing microtransactions among devices in the IoT ecosystem.
When was Tangle created?
Tangle, the innovative infrastructure behind the IOTA cryptocurrency, was established in 2015. The technology was proposed as a medium to combat the inefficiencies found in traditional blockchain systems.
How does Tangle work?
Tangle operates on the concept of a directed acyclic graph (DAG). Unlike a blockchain where one block follows another, a DAG does not have a specific direction. In Tangle, each transaction is linked to two preceding ones. These links between transactions mean that the validation process happens simultaneously, facilitating faster transaction times. Moreover, the responsibility of validation is distributed equally among all participants (nodes), reducing the need for miners or third parties and thereby enabling zero transaction fees.
