1 Level
5 Review
0 Karma
Review on IOTA by Anke Fuerst
IOTA can be used in a variety of ways. How do you imagine our future with IOTA…
IOTA can be used in a variety of ways. How do you imagine our future with IOTA? I can imagine that micropayments make our everyday life easier. For example, we may soon be at the traffic light with our car and inductively recharge the energy, which is paid automatically and ad hoc via IOTA. In general, integrated IoT communication will continue to increase and it will be exciting to see what the IOTA technology is all about.
Pros
- In the blockchain , with for example the application Bitcoin as a payment system, there is the problem of mining processes . In essence, these are basically external data centers that generate new blocks and insert pending transactions. For this they get a so-called "financial reward", for example, the transaction fee set by the sender of the transaction. The higher this is, the more attractive the editingthe transaction for the so-called Miner and vice versa. As a result, the smallest payment amounts are ultimately made impossible by high transaction fees. This is completely eliminated with IOTA: Everyone is part of the network and you validate others automatically. So it is possible to handle even very small amounts.IOTA is optimally suited for micropayments.
Cons
- The official website is still not easily understandable for standard users. Mass adoption is less likely to happen if people are not well educated with NEM’s features.
