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Review on IOTA by Kenan Chalabi

My review on a crypto project named IOTA

The success of Bitcoin's rapid appreciation in the past has proven that blockchain infrastructure is possible. However, blockchain infrastructure has been found to cause a number of problems that prevent it from being used as a platform for all digital money in the market. One of the most important of these problems is the receipt of the same amount of transaction fees, regardless of the amount of the transaction.

Importance of IOTA

As the Internet market grew, so did the importance of two-way use and resource allocation. In addition, the use of Internet markets has grown rapidly in a small number of transactions due to differences in models. Small operations are called "micro operations". The transaction fees received as a result of these transactions are often higher than the amount sent. With these infrastructure services offered by blockchain technology, it is not possible to reduce or eliminate transaction fees. As a result, some problems arise.

What is IOTA?

IOTA, a digital currency specifically adapted to the Internet of Things; offers a promising innovation that creates solutions to problems arising from blockchain technology. The infrastructure of these services provided by IOTA is a technology called Tangle. Tangle infrastructure is a distributed ID that is targeted, expandable, and can definitely be called a revolution. Transfer with tangle technology is free.

One of the biggest features of IOTA is that data transfer can be done with Tangle technology. IOTA offers some alternatives for data transfer to users. Thus, when users want to transfer to each other, they connect the sending and receiving devices to each other through reliable communication lines. All transfers made via Tangle technology are approved and cease to be the target of cyber attacks.

How Does IOTA Work?

The working logic of Tangle is as follows: in order to perform a transaction, users need to work on the confirmation of other transactions. Therefore, all users who perform a transaction contribute to the security of the network. With an open source and unique distributed ledger structure, Tangle validates every transaction or data transfer within its structure by two prior transactions, each validated by two prior transactions. Accordingly, validation of the network becomes one of the main features of the network. This new system departs from the existing Blockchain structure, as the confirmation of transactions is not decoupled from the use of the network. We can also conclude that the system becomes faster and more secure as the number of transactions increases.

IoT and IOTA

The sector, which is expressed as the internet of things, continues to grow day by day. IOTA every technological resource; It enables companies or individual users to explore new peer-to-peer or business-to-business transaction models, turning it into a potential service to be traded in the markets in real time and without transaction fees. At the time of writing the article, we see that IOTA is the fourteenth most valuable coin in the cryptocurrency markets. We will be following together what this revolutionary crypto money will bring to us crypto money enthusiasts and the current crypto money system in the coming days.

img 1 attached to IOTA review by Kenan Chalabi
img 2 attached to IOTA review by Kenan Chalabi
img 3 attached to IOTA review by Kenan Chalabi

Pros & cons

  • it is popular
  • I think it is good for investing
  • it uses modern technology's opportunities so well
  • nothing bad for such a good crypto

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