IOTA: Why You Should Have a Look At It
IOTA is an open-source project that was founded in 2015. The focus: Internet of Things (IoT), which is supposed to ensure machine-to-machine communication. With the help of IOTA, networked devices are meant to record and execute automatic transactions.
In doing so, the IOTA Foundation aims to become the new standard solution in the IoT sector. The interest of large corporations such as Bosch or Volkswagen shows that the business model also offers added value from an industry perspective.
IoT, in simple terms, means that devices — especially smaller computers for sensors/actors — communicate with each other via the Internet.
The IOTA Coin aims to make communication between IoT devices more secure and smoother.
IOTA Coins are unique when compared to other cryptocurrencies like Bitcoin and Ethereum. Here’s how.
IOTA connects IoT with secure data and value exchange — iota.org
Architecture
The most striking feature of IOTA’s design is the fact that it does not use a blockchain (such as Bitcoin) but a different, related, structure. IOTA uses a new protocol invention called “Tangle.”
- Bitcoin and Ethereum face scalability issues due to their slow transaction…
