Review on IOTA by Othere Obtentus
Internet-of-things spending application
The key breakthrough underlying IOTA is the Tangle, a innovative new blockless distributed ledger that is scalable, compact and makes it easy to transfer assets without any payments for the first time ever.
IOTA says that they will be able to accommodate the load with ease as the coin rises. Many coins like bitcoin have been swamped down by so many transfers, which can take more than 30 minutes.
IOTA is in its own tier of fast transfers and no fees. This is a great approach to any currency, one challenge I can see without any fees is a risk of hacking due to low authentication data. But there may be a work around, so it's not a bad thing at this point.
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Pros
- Distributed ledger is currently significantly different to the other blockchain-based platforms
- Potential to increase in size and speed simultaneously whilst maintaining zero-fee transactions
- Quantum resistant
- Worldwide partnerships and a big team working on its development
Cons
- It is still in its early stage of development, with several elements to manage
