Review on IOTA by Ogulnar Annamuhammedova

Hello my dear frineds

IOTA is a new open source new distributed ledger that does not use a blockchain.

Its innovative new quantum-secure protocol, known as Tangle, spawns unique new features such as zero fees, infinite scalability, fast transactions, secure data transfers and many more.

Initially, IOTA is focused on serving as the backbone of Internet broadcasting (IoT).

To send an IOTA transaction, the user's device simply needs to confirm two other transactions on the Tangle. To validate these two transactions, the device performs a low proof of work, which is essentially just a series of math problems. These math problems can be performed by almost any modern device, including laptops and telephones.

User and validator (miner, stacker, etc.) are no longer separated by objects in the register. This eliminates the need to spend large amounts of energy in mining or compromise the inevitable centralization of validation. Perhaps more importantly, because Tangle eliminates the requirements of miners / staxers, etc., New minted currency units and transaction fees do not need to be retrieved from the system to pay for validation. As a result, IOTA has zero fees.

Proof of work at IOTA cannot be compared to what is used in traditional blockchains. IOTA's Proof of Work is directly comparable to Hashcash, and it serves two purposes: preventing spam and preventing Sybil attacks. The proof of work in the register can even be transferred from small, lightweight devices to another more capable of handling the computational workload.

Since each transaction requires the sender to verify the other two transactions on the Tangle, more transactions can be confirmed as the number of users submitting them increases. This means that IOTA scales in proportion to the number of transactions to infinity. This graph depicts register scalability.

Transaction time is inversely proportional to the number of transactions on the Tangle. The more transactions there are, the faster each transaction will be confirmed. As IOTA approaches a critical mass of adoption, transaction times will approach network propagation times.

IOTA uses hash signatures instead of elliptic curve cryptography (ECC). Not only are hash-based signatures much faster than ECC, they also greatly simplify the signing and verification process and reduce the overall complexity of the Tangle protocol.