Review on IOTA by Jovan Maksimovic

Name: IOTA
Item: IOTA
Rating: 4

May 30, 2021

IOTA Review.

The IOTA cryptocurrency is an open protocol specifically designed for the Internet of Things (IOT). IoT describes an Internet network of real physical objects (software, routers, sensors, etc.) that interconnect with other devices and systems on the Internet.
IOTA digital currency uses the Tangle system instead of blockchain technology and is therefore specific and different from other cryptocurrencies. The network has often been criticized for its unusual design, as the Tangle system is managed by the IOTA Fund, which performs consensus through node coordination. Consequently, the network is not decentralized. It was founded in 2015 and uses the MIOTA token for its work.
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Pros

Unlike most others, IOTA cryptocurrency does not work on blockchain technology, but uses a specific Tangle system for its work. Tangle is easiest to describe as a forked system that continually forks from one “branch” to an additional two “branches” as a tree does.
o is a system in which each "branch" is represented by a specific transaction or completed data transfer. With this IOTA system, there is no need for mining as a form of transaction verification, but each transaction or data transfer allows the confirmation of two additional verification requests.

Cons