Review on IOTA by Ambar Quintana

Name: IOTA
Item: IOTA
Rating: 4

July 15, 2020

Review on IOTA

It is a cryptocurrency or digital currency of open source accounting technology, launched on June 11, 2016, programmed in Java, Javascript GO, C ++, Python, C. Its sole objective is to allow and secure the information and digital monetary exchange of an accessible, private, and totally secure way. Like all cryptocurrencies, it has a feasible structure for its development, which has as its name: Tangle, based on a mathematical concept called Directed Acyclic Graph (DAG), this guarantees that there are no commissions and a better scalability of it. Now, if we emphasize its monetary operation, we find that the total supply of Iotas (currencies) is 2,779,530,283,000,000, this supply is fixed and no more Iotas will be created, it should be noted that the smallest unit of account in IOTA is a lot, however, it also has transactions, confirmation and tips, that is, transactions are represented by vertices, confirmations by edges, and tips as transactions in process, or those that have not been confirmed, all seen from a graph of data structures in IOTA; In addition to that, we also find the algorithm for selecting tips, that is, which transaction in process can be confirmed first. And finally, consensus is also observed, the formation of different branches within the network, which may be incompatible transactions. In summary, the IOTA is a secure cryptocurrency, with no commissions, intermediaries, and good scalability, making it the most stable and reliable cryptocurrency on the digital-currency platform.
﻿

Pros

The funds of the users are found in addresses in the Tangle, through an electronic wallet, made up of a seed (81-character code made up of the Latin alphabet and the number 9), which is secure under several layers of encryption
All transactions cannot be altered or modified (immutability) once the process has been carried out
You have other means of data or information transmission, such as Bluetooth or LoRaWAN
There are no external people or means capable of altering or influencing the system (decentralization)
Has Winternitz signatures resistant to quantum attacks

Cons