What is IOTA

What is IOTA?

OTA is a cryptocurrency which is designed for IoT (Internet of Things). It is important for us to get into what IOTA is offering to the current scenario of the existing cryptos.

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Let us pay attention towards it as IOTA has following advantages:

1. IOTA is scalable
2. It is decentralized
3. It is a modular
4. There is no fee for IOTA transactions

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How is this achieved?

These advantages are achieved by using the Tangle. Tangle is a great breakthrough in the technological world. In IOTA, Tangle is being used instead of blockchain technology. Tangle uses Direct Acyclic Graph (DAG) for its operation. Tangle is far better than the Bitcoin’s blockchain as it solves the scalability and transaction fee issues.

It requires the senders to prove their work in the form of two transactions which is referred as a transaction couple. This coupling of transactions makes the system fully decentralized by removing the dedicated miners. The system can be affected by only those who are involved in a transaction. There is no need to pay the miners for the proof of work. It makes IOTA a feeless platform. 

Another smart feature of the IoT Data Marketplace Blockchain is that the speed of transactions increases with the increase in number of users. It is completely opposite to the Blockchain technology as the transaction speed is a real issue there. The scalability and feeless features of the IOTA are really promising for the performance of a huge number of applications. It stands as a true alternative to online blockchain earning options.