Cryptotoken optimized for the Internet-of-Things
Smart contract blockchain
Alon Elmaliah - Core developer
David Sønstebø - Founder
They want to develop the idea of Internet of Things and make it possible for various companies to cooperate by selling all of their services easily. IOTA wants to make every technological resource a potential service to be traded on an open market in real time and most importantly with no fees. Their site is very well designed with this futuristic vibe, it really grabs user attention, therefore encourages potential investors to research the project further. As they will act as the base for further development, the project can become very useful. They may also be revolutionary in a way with their Tangle architecture, which provides developers with a brand new set of tools for their applications in both IoT and Web and this is something different than a classic blockchain.
User ReviewWrite review 10 reviews
Iota is famous for being the first cyrptocurrency that is not using a blockchain, it is using tangled which is 10x faster than bitcoin. Since it's released on 2015 it has grown immensely in the market gaining the #7 spot in coinmarketcap so what are the pros and cons of this coin?
1. Great scalability thus offering a huge potential
2. No need to pay for fees during transaction
3. Does not require miners
4. No need to panic cause network can't split into two
5. Allows micropayments
1. "Tangle" technology is stil new and not yet highly tested
2. Not secure because smart contracts is not possible
Verdict: A good coin to invest it but even though it's been 2 years since it has been created I still couldn't find the answer to this question "What IOTA coins are used for?"
IOTA is one of the best cryptocurrency project. IOTA is a protocol for Internet of Things devices and allows micro-transactions and scalability, with absolutely no fees for transactions, and no miners.
The developers are very active and offering many tutorials to build your own project based on IOTA and their Tangle protocol.
For sure, one of the best projects in cryptoworld !
As noted by @Glory90 above IOTA is one of the many crypto currencies out there that have great unlimited potentials of being great.
it eliminates most of the problems Facing other Cryptocurrencies and eliminates the extra fees users have to pay miners. It is "unforkable".
Would gladly recommend people to make use of this crypto currency it's got unbelievable potentials. Thank you.
The Bitcoin network is pretty clogged up. Transaction fees go through the roof or transactions get stuck. Micropayment is not possible. I hope with this one the micropayment system works well. I don't want to have to pay $7 for a transaction of $2-3. IOTA is a strong competitor all others have to to look out for.
IOTA is similar to Lightning Network or Raiden, these protocols allow for great scalability and micro-transactions. IOTA operates on the Directed Acyclic Graph (DAG) model similar to the ByteBall model, which IOTA calls the Tangle.
Some advantages iota: Network can’t split into new separate networks, no fee of IOTA transactions, unlimited scalability,
disadvantages: Removes miners,
This is one of the top 5 projects in crypto.In five years the value could go very high.It is a great project on all fronts and i see it grow by the day.Everybody really needs to invest in this coin and hold it long term.The development team has huge potential for more to come in the very near future.They need adding smart contracts on there project i think but they already did a lot of nice things.
I do really like this project! IOTA's Team did well on making this project. Micro payments are posible from this. Would store some IOTA on my assets list!
I think this pretty much sums it up. It's an innovative tech that has a lot of potential since IOTA transaction is faster than an Ethereum transaction,
it you do some research, you will see that the IOTA transaction is an order of magnitude faster
every time I made transactions with Iota and I can tell you it's super fast.
I highly recommend IOTA to every one !!
Advantages of the IOTA network
1. No fee transactions, which makes micropayment possible
2. Removes miners, everybody contributes to the network
3. Unlimited transaction rate, each person that sends a transaction is supposed to process a transaction, which theoretically means unlimited scalability.
4. Un-forkable, the network can’t split into new separate networks like ETH and ETC.
Disadvantages of the IOTA network
1. Can’t do smart contracts
2. The promise of free transactions is highly theoretical and node pools with heavy weights in the DAG could force transactions through themselves and charge fees. This issue has yet to be addressed by the development team.
3. An attacker doesn't have to outpower the entire honest computational power of the network, but just the honest computational power of the network actively making transactions at any given time.
I really like this project! IOTA hit the crypto-world after their ICO, they listed in top 10 of all coins but suddenly they fall down to Top 25 on June 26, 2017. The good here, as of now they got the spot of Top 7 in market cap :) I always watching this coins because they have a great project concept. And I already invested in this coin. Two thumbs! :) Well done to the Devs of IOTA!
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