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A comment on Someone paid $2.6M in fees to move $134 worth of cryptocurrency. Parent comment

Re:Someone paid $2.6M in fees to move $134 worth of cryptocu... by CyberDildonics on Friday June 12, 2020 @10:19AM (#23499451)
Elliptic curves are a type of cryptography and directed acyclic graphs are a type of graph. They have nothing to do with each other at all.

Also all crytpo currencies are essentially DAGs that are synchronized by the ordering of the transactions by whoever mines the block. IOTA pretends that there is something different when the real difference is that they can't decentralize how to synchronize transactions.

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Re:Someone paid $2.6M in fees to move $134 worth of cryptocu... by nix23 on Saturday June 13, 2020 @06:59AM (#23508591)
Just half true, read for your self:

https://www.gibraltarlaw.com/directed-acyclic-graph-vs-block...

>can't decentralize how to synchronize transactions

No one ever said that, of course they have so synchronize to the network...what else? Entanglement?

>Elliptic curves are a type of cryptography

Yes and it was NOT a Elliptic curve but a type of winternitz-ots.

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Re:Someone paid $2.6M in fees to move $134 worth of cryptocu... by CyberDildonics on Saturday June 13, 2020 @09:47AM (#23509324)
The point was that you didn't know the difference between where elliptic curve cryptography would be used and a directed acyclic graph. Also a ledger is by its nature a directed (one direction) acyclic (no cycles) graph of dependencies, it just depends how you visualize it. Just like instructions on a computer are in a sequence, they can be separated into graphs of dependencies which may be woven together.

Other crypto currencies are able to synchronize in a decentralized way with different miners mining each block. As far as I know IOTA's structure makes this impossible, even though when they created it everyone else had already done it.

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