IOTA is a revolutionary new, next generation public distributed ledger that utilizes a novel invention, called a “Tangle”, at its core. The Tangle is a new data structure based on a Directed Acyclic Graph. As such it has no Blocks, no Chain and also no Miners. Because of this radical new architecture, things in IOTA work quite differently compared to other Blockchains. For a Blog post outlining IOTA in more detail, you can head over to our Blog….What is IOTA?
IOTA explained in 2 minutes!
What is IOTA in a Nutshell
IOTA Price and MARKET CAP
IOTA Pros and Cons
- The tangle technology : The IOTA uses DAG(Directed acyclic graph) rather than blockchain. It didn’t need miners to confirm the transaction. Everyone who makes a transaction need to approve two previous transaction in the tangle network. It will help speed up transactions.
- No transaction fee: Enables micro transactions. No one will not pay $20~40 transaction fee to deal with a transaction.
- Time to confirm transaction : There is no transaction fee, the miners don’t have any motivation to host a node to process new transaction. It will cause a delay of transaction if there are not much people send IOTA coins and confirm previous transaction.
Bitcoin vs Ethereum vs IOTA
|Total Supply||2.1 Million||98+ Million||2,779,530,283,277,761|
|Founder||Satoshi Nakamoto||Vitalik Buterin||David Sønstebø|
|Block Time||10 Minutes||12-15 seconds||No Block|
|Blockchain||Proof of Work||Proof of work (Going to POS)||No Blockchain|
|Mining||CPU、GPU、AISC Miner||GPUs||No Mining|
|Transaction Fee||0.004 BTC||0.0027 ETH||Free|
|Note: Transaction Fee is based on Bitfinex but it will change sometimes.
Source : https://www.reviewtwo.com
IOTA is one of the technology to solve the blokchain problem – Scalability and High transaction fee. It uses tangle structure to verify two previous transactions. so that it doesn’t need to pay any transaction fees. It means more transactions will make transaction confirm faster.
The main purpose of IOTA is to utilize our smart devices to trade data, goods and services automatically. There are 10 billion smart devices in the world. If most of them can use IOTA cryptocurrency as for trading coin, the price will go to moon.
Where to buy IOTA
Another cooperation has been declared with IOTA – the Berlin based cryptocurrency start-up at the Connected World conference with Volkswagen. The main reason running the movement is that the future of smart cars [connected] could be decentralized technology. … IOTA For The Future: Volkswagen Added On The Partnership List