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The IOTA Foundation announced today the development of a lightweight trinary cryptographic hash function.

The Foundation collaborated with CYBERCRYPT, a leading system provider in cryptography and cybersecurity to complete this project.

CYBERCRYPT was commissioned to work on a secure hash function that could be used for IOTA’s trinary architecture and platform.

The hash function is called Troika, which will provide “a strong cryptographic foundation for the final IOTA protocol.”

The cryptographic hash function has been designed to overcome all known cryptanalytic attacks.

The function is now open to the public for evaluation.

IOTA and CYBERCRYPT will hold a competition with total prize money of 200,000 euros and invite cryptanalysts to evaluate Troika.

IOTA co-founder and co-chair David Sontesbo commented on the partnership, saying:

“The IOTA Foundation is honored and excited to be collaborating with CYBERCRYPT, to ensure we achieve world-leading security for the IOTA protocol. We hope that this competition will bring the cryptographic community together on solving security in the Internet-of-Things.”

The IoT industry is looking beyond Moore’s Law, as it is seemingly reaching its limits.

The industry is now looking forward to More-than-Moore (MtM) to handle the increasing demand for various computation tasks and increase computation performance as well.

For IoT, the energy constraints of small devices could be a crucial factor in enabling implementation.

In the announcement, IOTA highlight how Troika could solve this issue:

“Trinary has shown promise in varied fields of computation. Cryptography allows the storage and transmission of encrypted data so that it can only be read or processed by the intended recipient, an essential aspect to the security of IoT. With the introduction of trinary-based hardware, trinary algorithms will run more efficiently, leading to significant reduction in computation and energy consumption. These energy gains underlie the choice of trinary architecture in the IOTA protocol, and are one of the main drivers behind the creation of Troika.”

CYBERCRYPT founder Andrey Bogdanov commented on the development, saying:

“CYBERCRYPT is delighted to be a part of this ambitious large-scale project for public-ledger based digital payments. We are happy to support IOTA in their quest for the secure digital ecosystem in future IoT applications.”

IOTA Announces New Trinary Cryptographic Hash Function With CYBERCRYPT was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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