IOTA Review

IOTA Review

What is IOTA?

IOTA calls themselves the “Next Generation Blockchain.”

Like Ethereum, IOTA helps with B2B sharing capacities. Via IOTA, innovative products and services can be traded in with optimal efficiency.

Within this system, innovative technologies will be exchanged easily and freely. The IOTA system is the foundation for this powerhouse of knowledge transfer. The “Tangle” leger makes these seamless transfers. Computers can extract products right away and keep it safely stored. All transfers are recorded on this ledger.

The tangle is, actually, blockless. It’s freely given out (and as such, records all transfers). This is a different system from the now-popular Blockchain. Opinion is not disintegrated but stay embedded. This means that the entire system is decentralized and self-sufficient, a place where businesses can work together.

Here are some of IOTA’s key aspects.

    • Transfer of Micro and Nano (that’s pretty small!) transactions. The Tangle aspect is what helps orient this. This offers IT with new methods to apply in development and creates opportunities free of charge.
    • As a most important feature, IOTA allows the transfer of information via Tangle. You have a few options of how to do it and all methods are fast and secure. It’s authenticated and cannot be altered en route.
    • IOTA is mostly used in business to business (B2B) online work, but it can be adapted to other tasks that include transferring info–this applies to government affairs and e-Voting and even academia.
    • With MAM processing, nodes can transfer info easily, with encryption. Even if you’re using mobile devices, for example, the important info will be protected and analyzed when you’re using a safer medium. You can also offer info to many people at once.
  • On IOTA’s website, they create an analogy between their goals and those of Uber, Rideshare, and Air BNB. They state: “While the whole world has adopted the ‘Sharing Economy’ in areas like driving and accommodation, IOTA enables a whole new realm where anything with a chip in it can be leased in real time.” This aspect of the cutting-edge is not to be dismissed. With IOTA, products can be easily shared or rented out–including computer  products like storage, bandwidth, and more.
  • The way in which the ledger can be shared is limitless, with many creative avenues yet to explore. A new and improved ledger is on the horizon too, which means even more possible things to do with it.

Other great aspects of IOTA include scalability, light design, secure via quantum, low transaction costs, and lack of blocks or mining.

Why Invest in IOTA?

  • IOTA is a brand new data/service sharing platform with wide-reaching uses, which opens the doors to plenty of future utility vis à vis communication
  • IOTA is still in its starting stages, so it’s possible to get in early
  • IOTA is taking it slow before their big release to ensure their technology is perfected

IOTA Cost

 

Date

IOTA US DOLLAR VALUE

June 13, 2017

0.54

June 15, 2017

0.51

June 20, 2017

0.42

June 24, 2017

0.50

June 30, 2017

0.42

July 3, 2017

0.37

How To Invest In IOTA

If you’d like to invest in IOTA, you can do so on Bitfinex. IOTA soon expects to be available with other exchangers, too. It is currently working on developing its resources to make itself fully ready.

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