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Review on IOTA by Marlena Kaźmierska
Iota dag based platform review
The IOTA has grown to as much as 8.4 billion devices in the year 2017 and the experts have anticipated rapid growth in the IOT industry. The potential of the market is huge but the potential of the investment of the Internet of Things Application all depends on the adoption and implementation. The implementation of the network remains in the hands of the founding team of the Internet of Things Application but the adoption of the IOTA still remains open for discussion.
The concept of transactions between machines is comparatively new and people still need to be convinced to use this transaction system. The Internet of Things Application has however not targeted humans but only machines but humans can also use the IOTA tokens.
Pros
- The transactions fees in the blockchain technology are generally fixed by the initiator or the sender of the transaction and hence it becomes quite difficult to process the transactions of smaller amounts. Whereas the Internet of Things Application allows the facilitation of the small payments without any or with very little transaction fees.
- With the Internet of Things Application, the time between making the transaction and its confirmation has almost become zero.
Cons
- There was the crooked initial distribution of the tokens and the currency has still not reached its actual potential.
