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Review on IOTA by R Silva
IOTA uses the tangle algorithm, which is one of the fastest to makeβ¦
IOTA uses the tangle algorithm, which is one of the fastest to make transactions on the internet. For each transaction sent by the user, the same device helps two other transactions on the network to be committed. The transactions will be autonomous and do not require human intermediaries, using IoT (Internet of Things).
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Pros
- It has an integrated algorithm resistant to quantum attack, the Winternitz One-Time Signature Scheme. Winternitz is known as a post-quantum signature because quantum attacks do not significantly decrease security. A quantum computer can be 17 billion times more efficient at Bitcoin mining than the classic computer. In the algorithm used by Tangle, a quantum computer would be about 3 times more efficient. Consequently, a quantum computer would not cause a major impact or problem. * Higher speed in transactions; * More scalability; * Do not charge transaction fees; * Resistance to hacker attacks; * Uses modular structure; * Can use on any device that has internet access; * Can not suffer forks or bifurcations in the network; * It has the most secure storage of messages and data.
Cons
- At the end of 2017, there were rumors about possible IOTA partnerships with large companies, including Microsoft, which was denied, and many people left the project and since then Iota has lost a lot of value. Incredulity in the currency within the world of the crypts, due to its structure being different from a Blockchain.
