The IOTA Foundation announced on December 20 that it is currently working with Cybercrypt on a new lightweight trinary cryptographic hash function. The new hash function will be called Troika and will provide a cryptographic basis for the IOTA protocol. The team hopes that this will ultimately increase the security of the infrastructure for the Internet of Things.
Bitcoin news: David Sønstebø is euphoric
In addition the co-founder of the foundation, David Sønstebø said about the Bitcoin news in this interview with onlinebetrug: “The IOTA Foundation is honoured and pleased to be working with Cybercrypt. This enables us to achieve world-leading security for the IOTA protocol. We hope this competition will bring the cryptographic community together to solve security issues around the Internet of Things.”
The function is based on trinary functions. In the unexplored field of the Internet of Things, the team hopes that this will provide them with the best possible security. It is also hoped that this will lead to energy-efficient storage and transfer of data. Trojka should therefore bring a considerable security advantage for the infrastructure.
More information about the upcoming competition can be found here.
IOTA share price rises by ten percent according to Bitcoin news
Like the entire Bitcoin news ecosystem, the IOTA course has gained strength in recent days says onlinebetrug. Accordingly, the IOTA course has risen by over ten percent in the last 24 hours. Thus, the MIOTA token is currently close to 0.35 US dollars. The project is currently in twelfth place among the crypto currencies with the largest market capitalization, ahead of Monero (XMR) and behind Cardano (ADA).
IOTA wants to provide the infrastructure for the Internet of Things with its token and the corresponding tangle. In order to underpin this cryptographically, the IOTA Foundation is developing the secure hash function “Troika” together with Cybercrypt. The function is intended to improve the infrastructure of the tangles. In order to evaluate this, the Foundation has now announced that it is open to the public. In order to actually make it watertight, a prize pool of a total of 200,000 euros has been set up – developers are to put Troika through its paces.