Review on IOTA by Flourish Titilope (Abesther)

IOTA is one of the most famous projects in the crypto space, it is known as the preeminent distributed network for internet connected devices as well as a leading project focused on distributed IoT. IOTA also uses some of the most unique technologies that set it apart. A number of other blockchain-based networks have seen numerous ups and downs in their four-year history.



IOTA has been around longer than many of the blockchain projects out there, and the seed funding for the project came from a 2015 crowd sale that raised 1,337 Bitcoin, valued at around $ 500,000 at the time. IOTA is a cryptocurrency that was developed to be the backbone of the Internet of Things economy. OT devices have become an increasingly important part of the global economy. All of these devices generate a large amount of data that independent businesses can find useful. Unfortunately, there is currently no way for these companies to obtain this information. Ngs work differently because anyone who wants to use the system to send funds must also contribute to the network by verifying other people's transactions.



IOTA is capable of achieving all of its goals so there are some really good practical uses it could be applied to. First, if the platform is capable of instant, free, and unlimited transactions, it would be ideal as a global payment system.