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Welcome to the Tangle: An Empirical Analysis of IOTA Ledger in the Chrysalis Stage


He, Peilin; Yan, Tao; Huang, Chuanshan; Vallarano, Nicolo; Tessone, Claudio (2023). Welcome to the Tangle: An Empirical Analysis of IOTA Ledger in the Chrysalis Stage. In: Kacprzyk, Janusz. Blockchain and Applications, 5th International Congress. Cham: Springer, 419-431.

Abstract

The Tangle, the distributed ledger of IOTA, is built on a directed acyclic graph (DAG) where the nodes represent messages, and the edges correspond to reference relations. This feature of the Tangle makes it suitable for analysis using network science methods. While previous research on the Tangle has mainly focused on stability, security, scalability, and the forthcoming IOTA Coordicide update, there is limited empirical research on the evolution of the Tangle, particularly during the Chrysalis stage (IOTA 1.5). To address this gap in the literature, our study aims to develop workflows for collecting IOTA Tangle data and transaction data in the Chrysalis stage, conduct a comprehensive analysis to examine the features of messages and reconstruct the Tangle graph to study its characteristics from a network science viewpoint. Our study is the first to illuminate activities and information transferred on the Tangle, as well as its graph characteristics during the Chrysalis stage, which can enhance our comprehension of its functionality and contribute to the improvement of the Tangle’s performance in the upcoming upgrades.

Abstract

The Tangle, the distributed ledger of IOTA, is built on a directed acyclic graph (DAG) where the nodes represent messages, and the edges correspond to reference relations. This feature of the Tangle makes it suitable for analysis using network science methods. While previous research on the Tangle has mainly focused on stability, security, scalability, and the forthcoming IOTA Coordicide update, there is limited empirical research on the evolution of the Tangle, particularly during the Chrysalis stage (IOTA 1.5). To address this gap in the literature, our study aims to develop workflows for collecting IOTA Tangle data and transaction data in the Chrysalis stage, conduct a comprehensive analysis to examine the features of messages and reconstruct the Tangle graph to study its characteristics from a network science viewpoint. Our study is the first to illuminate activities and information transferred on the Tangle, as well as its graph characteristics during the Chrysalis stage, which can enhance our comprehension of its functionality and contribute to the improvement of the Tangle’s performance in the upcoming upgrades.

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Additional indexing

Item Type:Book Section, not_refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Informatics
Dewey Decimal Classification:000 Computer science, knowledge & systems
Scope:Discipline-based scholarship (basic research)
Language:English
Date:1 January 2023
Deposited On:15 Feb 2024 13:17
Last Modified:20 Feb 2024 04:50
Publisher:Springer
Series Name:Lecture Notes in Networks and Systems (LNNS)
Number:778
ISSN:2367-3370
ISBN:9783031451546
OA Status:Closed
Publisher DOI:https://doi.org/10.1007/978-3-031-45155-3_40