Quote from: iotatoken on March 22, 2016, 11:52:13 AM

Quote from: child_harold on March 22, 2016, 11:14:06 AM

What's the story of IOTA?

Who started it? Who thought of the using a DAG PoW?
Was it iotatoken (David) who commissioned/paid for the Tangle whitepaper?
When did CfB come on-board? What are the nature of these relationships and how did it all come together?

Id like to know the true genesis of IOTA, if somebody could lay it out please.

thanks.

So the story of IOTA's inception goes back to the founding of the Jinn project in late 2014. Jinn was founded by me and Sergey/CfB, and we hired Serguei/Mthcl afterwards due to his expertise. The Jinn processor is being developed for ultra-low energy distributed computing, which will become more and more important, especially in Internet-of-Things, specifically Fog/Mist infrastructure. Naturally given that we are operating and R&Ding in this market segment we have conducted a lot of analysis on what is needed for this ecosystem to emerge and what sort of business opportunities that will arise within it.

In Fog/Mist and IoT in general it is obvious that interoperability will be the single most important component for new and seamless business-2-business opportunities. In general machine-2-machine/device-2-device payments will enable an autonomous economy of technological resource trade and collaboration across different sectors and turn more people into prosumers rather than just consumers. Due to this knowledge we drew on our previous expertise and experience in the distributed ledger world to see if there was a solution for these obstacles. We concluded that there were not, due to the high technological overhead of regular blockchains, as well as the prohibitive fee structure that make these required micro/nano-transactions infeasible.

In terms of roles within IOTA's creation it was multi-faceted. While I'm the leader of the project whose vision it is executed on, CfB and Mthcl's expertise and knowledge of several fields in symbiosis gave us the ability to create exactly the sort of solution that I deemed necessary for an IoT economy.

Thanks for the reply.

And the idea of the PoW in a DAG (Tangle) as also developed in DAGcoin (by Sergio). Who came up with this idea?