And it must be done almost free of charge, because paying for every transaction is more associated with the banking system than with digital money. At a time when millions of microtransactions (think of all payments of less than a euro) are being made worldwide, this must be done quickly and securely. It is highly scalable because it does not work with a classic blockchain, and there are no transaction costs. Had this been possible, IOTA could have been a comprehensive solution, where now it must be combined with other (blockchain) applications.īut at the moment, the benefits are decisive. The fact that Tangle technology does not enable smart contracts is a real weakness. For example, the network is not yet completely stable and relies on a coordinator and there is a lot to say about safety (although a lot of work has been done on it lately). And IOTA can do that without any problem. Especially with the development of the self driven car and other autonomous decision computer systems, there is a growing demand for a system that can process millions of microtransactions at the same time. The number of partnerships is still increasing. Collaborations with Volkswagen, BOSCH and Sirin Labs are considerable pillars on which IOTA can rely. The application of the technology in real life situations is very important for further development and implementation. This new project also focuses on IoT, but they are not nearly as big as IOTA. Open source also means that the software can and may be used by others, such as the relatively unknown IOT chain. Complications and research that takes longer than expected. So far it is IOTA that is the competitor itself. Tangle is open source software and is being further developed together with other technology companies such as Microsoft. That is not possible, because the technology behind the Tangle differs in every way from the standard blockchain. The Tangle technology has no direct competitors. This clearly shows how strong the belief in the opportunities for this crypto coin is – and how the community is willing to actively contribute to this. The community then donated 5% of the total number of coins voluntarily to the developers. When it turned out that more money was needed to further develop IOTA, it was decided to set up the IOTA Foundation. The founders did not keep anything for themselves at the time. The total IOTA volume is 2.8 billion coins, all of which were put into circulation during the ICO. If in the future the value increases and 1 MIOTA is no longer small enough for a micropayment, the team will drop the MIOTA and start using the IOTA as a unit. If you want to invest in IOTA, you will right now always buy MIOTA. A MIOTA is 1,000,000 IOTA and has been chosen by the project to be used as the unit of account for the time being.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |