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Review on IOTA by Andrea Fried
Iota is an extremely interesting technology and I'm excited for its potential…
Iota is an extremely interesting technology and I'm excited for its potential, I just think there's way too much misinformation and hype spreading around. Once again, remember, Iota isn't really a competing solution to Ethereum. It's a competing solution to Raiden and similar systems and I'm interested to see some analysis comparing the two.
Pros
- One of the main differentiators of this technology versus the Blockchain is what IOTA calls “The Tangle”. It’s a new method of storing transactions through a mechanism called Directed Acyclic Graph or “DAG”. As a Blockchain network grows, the amount of transactions per second does not. Which leads to congestion. The other issue is that the more miners (computers) are on the network, the more expensive it is to cover the transaction fees associated to the electricity bill of those miners.
Cons
- I'm making the exact opposite assumption. If Iota is only used for human to human transactions, there will not be enough throughput in the network to keep the system secure. Remember, you need extremely high throughput for the system to be secure because an attacker doesn't need to overpower the entire network's computing power, just the computing power of the network actively using it at any given moment.
