Review on IOTA by Bodo Julcsa

Name: IOTA
Item: IOTA
Rating: 4

August 31, 2018

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.
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Pros

When using regular blockchain based payment portals, the transaction fees are usually set by the sender/initiator of the transaction. As a result of this, it becomes increasingly unfeasible to process smaller payments amounts. One of the biggest advantages of IOTA is its ability to facilitate small payments with the incurrence of little to no transaction fees.

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.