Review on IOTA by Sergio Daniel Delgado
IOTA function
In principle, IOTA works like any blockchain. Being a distributed database for the storage of information. It is distributed among a series of nodes, which validate the information and allow its operation.
The main objective of the cryptocurrency is to serve for the storage and exchange of data relating to the Internet of Things. That is, understanding that the Blockchain is essentially a large decentralized database. The first part to understand the IOTA business model is to understand that it seeks information generated by smart products is stored on your network.
Thus, the data generated by our articles with smart sensors, from our car to our fridge, would be stored in IOTA. And once there, the IOTA Foundation seeks that we can transmit the information securely to a third party. Either to share the data, or to sell it, which is at the end of MIOTA's goal. The creation of a large information market collected by sensors.
Pros
- Cryptocurrencies offer revolutionary possibilities in all sectors of our lives. Sometimes, even in sectors that we did not think could be used more efficiently thanks to Blockchain technology. A platform for the exchange of Big Data, has clear advantages for the development of products, services and public policies. And if there is also an economic incentive, we can expect a better performance of the dynamics.
Cons
- However, when institutions like the IOTA Foundation offer alternatives like Tangle. And especially when they handle such sensitive data. Safety is one of the primary issues that must be consider. Otherwise, any advance made through the product will have no real value.
