1 Level
13 Review
2 Karma
Review on IOTA by Kingsley Morgan
With the spread of distrubuted ledger technologies, we can now share andβ¦
With the spread of distrubuted ledger technologies, we can now share and synchronize accounting information and money with secure, distributed, decentralized and permissionless environments. By removing the needs of trusted third parties as guards and truth brokers, there are great gains in efficiency, innovation opportunities, and new value propositions
ο»Ώ
Pros
- In order to participate in the IOTA network, the participant simply has to perform a small computation task to check the last two events. Rather than creating a hierarchy of roles and responsibilities online, every player has the same incentives and rewards. Executing a Tin in Cable requires two previous events to be validated because the reward is the validation of your own event with a later event. This "prepay" validation system does not make it necessary to provide financial benefits. Events with IOTA are and will always be free.
Cons
- The proof of work has a limitation has it only gives more priority to devices with higher computational power as against giving priority to device based on matter of urgency.
