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Review on IOTA by Anke Baum
IOTA’s prospects are measured by the prospects of the sphere that this…
IOTA’s prospects are measured by the prospects of the sphere that this platform is designed to serve. Initially, the concept of the Internet of Things meant a global network in which physical objects interact with each other through built-in technologies. Right now, there is no fully-fledged network – there are, rather, autonomous pockets.
Pros
- the unique IOTA platform, and the unusual proof of work without mining as such, potentially creates a situation in which a powerful transaction will disrupt network security. If it comes from a node that has collected 51% of the total capacity, then the so-called 51% attack will occur. The node will gain control over the network, which will allow it to double expenditure. This is like a Bitcoin mine with 51% of the processing power
Cons
- The fact that the project is actively developing and cooperating with the world’s largest consortia suggests that it has prospects. The idea that it will become a driving force in such an innovative direction as the Internet of Things is a definite plus of IOTA. This means that coins really have some weight behind them. After all, they must fulfil the role of ‘fuel’ in a rapidly developing sphere
