What is IOTA? According to the Tangler, IOTA is an innovative new distributed ledger technology to function as the backbone of the Internet Of Things. Born in 2014, it is the only technology of its kind that is able to function as the lightweight distributed ledger with scalability, quantum resistance and decentralization for all IoT devices.
And also its a first cryptocurrency without a blockchain. Every transaction forms a new block. the transaction is basically verified by itself. Transaction costs are virtually non-existent. Iota is based on tangle , not blockchain. Tangle works with DAG (Directed Acyclix Graph)
Iota has three main advantages over cryptocurrencies.
- Zero Transaction Costs.
- Potential for Indefinite Scalability
- Offline Transactions.
Iota is fully decentralized to a extent that blockchain cannot match. The system has no limit to scaling, the problem that plagues most high volume crypto transactions. The transition from the Internet of Things (IoT) to the Internet of Everything. All your machine will communicate with each other. This well maybe the technology of the future for connectivity. This is well worth a look for anyone intimately involved in cryptocurrency.
You can visit Iota.org for more info.
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