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Review on IOTA by Ajirioghene Obibi
IOTA is an interesting and ambitious project. If IOTA becomes successful, then…
IOTA is an interesting and ambitious project. If IOTA becomes successful, then it may render the price of bitcoins useless. The IOT aspect of IOTA is very interesting as machines have the ability to trade information, goods and services for income.
Pros
- The company behind the token have strong funds to empower IOTA development and research. It is partnering with new companies. From the look of things, IOTA has a huge advantage because it is the first to tie IOTA into the cooperate world.
Cons
- With IOTA, you don’t need to pay any tokens to have for your transactions to be implemented in the distributed ledger. However, the security of the network in proportion to the amount of Proof of Work done per second. Each transaction still demands a fee, except that it is the form of POW. You have to spend computation power. For some people, this is perfect, but CPU resources are limited. Also, it is only a matter of time before ASIC processors will be released for IOTA. These will make local Proof of Work slow. The difficulty will also be increased to maintain a high PoW cost.
