Some of our early design decisions were found to be suboptimal, others reaching far beyond the foreseeable horizon.
But by going against the grain to create something new, we made some missteps along the way. This included a fundamental deviation from technical norms, which to onlookers made us an outsider, and to our community, an underdog. In pursuit of this vision, we began a quest that would mean breaking down barriers by sometimes taking unconventional steps. Our vision was that this system would go on to revolutionise industries, from Automotive to Supply Chain, Industrial IoT to Personal Identity, ushering in a wave of innovation that would coalesce in the formation of an altogether new economy – the Machine Economy – where devices would exchange information, value and digital assets autonomously. The Tangle was designed to be a more equitable, democratic and secure network, where every node would directly contribute towards the security of the overall system. We introduced the very first distributed ledger based on a directed acyclic graph (DAG) – a scalable and lightweight protocol to overcome rising costs and power consumption by removing miners and fees. The launch of the first IOTA mainnet in June 2016 was the start of our journey to revolutionize Blockchain.
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