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Review on IOTA by Stephan Abt
With “blockchain technology” grabbing most of the headlines when it comes to…
With “blockchain technology” grabbing most of the headlines when it comes to crypto-innovation, IOTA is offering users with an all-new digital framework that promises to introduce a similar level of innovation but within a much larger, industrial scale.
Pros
- In the future, IOTA could help companies to verify their data . The easiest way would be for a high-performance computing company, such as Fujitsu, to act as a trusted instance . The Trusted Instance keeps a copy of the Blockchain of the respective company and gets from it once the Basis Blockchain put - the so-called Genesis block. All transactions then take place both in the enterprise blockchain and in the blockchain of the trusted instance, ie at Fujitsu. In a review, the auditor only needs to compare the two blockchains. If both transaction histories are the same, no manipulation has taken place.
Cons
- Iota is still in beta phase. That's the biggest problem now. Every single defects, bugs and faults are highlighted by blockchain developers and users alike. It is only two years since it is conceived and there's still so much to prove. To prove that it can really handle attacks on downtime
