Review on IOTA by Shahana Parveen Khan
IOTA review
IOTA is a distributed ledger to allow data exchange between any data recording machine as part of internet things. IOTA is a very popular coin in the industry and MIOTA is its currency. It uses technology called tangle which seperates it from other cryptocurrencies.
IOTA is completely free to use making it more accessible to its users. It uses a series of cryptocurrency algorithms along with number of sophisticated techniques to do this work. Any device could manage it without efforts.
It has two main features - Micro transactions and speed. With IOTA more people that use the network the faster it becomes.
IOTA's main purpose is is to support and facilitate machine to machine economy and to be implemented as an underlying protocol behind the internet of things. There are also tons of benefits user can avail. It is also more efficient than blockchain based cryptocurrencies.
Pros
- No transaction fees
- No GAS or tips for miners
Cons
- Don't exist yet
- Developing a DAPP with IOTA is not yet possible
