Review on IOTA by Ceren Taskiran

Name: IOTA
Item: IOTA
Rating: 3

October 30, 2020

Usage advantages and some cons of IOTA.

a decentralized cryptocurrency system. Frankly, I don't like it.
 it does not use blockchain system and that does not give me confidence.
 iota didn't charge for my transaction, and that's a good reason to get ahead and this makes it the first virtual currency without transaction fees.
﻿
The processing speed is constantly increasing and I was surprisingly fast while trading. This feature is really useful.
 this makes its scalability unlimited.
﻿
I can send data even when I'm offline. Another feature that makes me happy. and other users love it too.
﻿
There is also the ability to send data in seconds without human assistance.
iota asked me for some criteria. For example, it is desired to have a unique name, sensor and connectivity.
﻿
In iota, data can be sent and received even at the micro level. This is great for thin calculators. I don't need to do fine calculations.
iota has a foundation team. They monitor the system and attach great importance to security. I asked for a license to collaborate, but they didn't give it to me.
﻿
If technology improves, iota can become even more available.
 but right now iota has not yet been able to give me what was expected.
 Iota uses tangle as its database system. It's actually not very reliable because it looks like a distributed system. This is useless for users like me.
 However, it does not perform any old transactions without my approval.
 iota has put a verification system in place and this increases the reliability somewhat.
 It uses hash based encryption because it prevents data from being stolen. I don't want my data stolen, so I liked this system.
 iota also has quantum durability and prevents incoming attacks. It works really well.
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿
﻿

Pros

A virtual currency with no transaction fees.
Data can be sent when offline.
IOTA can send and receive data to each other in seconds without human assistance.
Micro level payment facility.
Unlike other crypto currencies it uses a hash based encryption system.

Cons