Most of you have heard about IOTA but don't know the mechanism behind IOTA .How it works ? why people are saying it will change the way how cryptocurrency works? why it's called as 3rd generation cryptocurrency?
This is a new Cryptocurrency, it's been around for a while and got a lot of attention of investors.It is marketed as third generation crypto because it has few or you can say many extra powerful features which makes it unique,lovable and adoptable.
So, let's just dip into IOTA step by step first let us discuss the key features of IOTA:-๐ฅ
1.It Has No Fees For Transaction.
2.It Has Fast Transaction.
3.It Is Quantum Computing Proof.
4.Solving a great problem of micro transactions.
By listening these features you have to say ....
Now Most Of You Just Don't Know What Is Tangle Techonology On which IOTA works.
Basically Iota is not using blockchain, it works on a system called Tangle. To understand tangle let's take an example , teacher give homework to their student but they have to do hardwork to check student's homework (you can compare teacher with bitcoin miner or ethereum miner or any other crypto currency miner having proof of work) but smart teachers like IOTA just exchange the copies of student and tell them to check each other copies and thats how tangle techonology work.Basically to show your transaction in the iota network you have to confirm other two transactions, this way all are participating in this network.It is not like other blockchain network where only miners participate.
I will not make this post boring by going into the technical details because you can get all the information by going through their whitepaper.
Any question regarding IOTA just let me know in comment
If you like what you read, do not forget to upvote resteem and follow @vinnu ๐
Acha!! ji..
How did u manage to write this long post?
hahaha lol 2 mahine lag gye bc ๐
Mza aa gya pdhkr
Acchaa!
Sachii muchi
๐
great post bro! I'm looking forward to seeing what it has to come in the future... I invested early on (19c) so I look forward to 1x IOTA = 1 Lambo :D
very much high expectations :)
@Originalworks
The @OriginalWorks bot has determined this post by @vinnu to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
To nominate this post for the daily contest, upvote this comment!
For more information, Click Here!
I need some serious help understanding how cryptocurrency works! I am new to all of this and don't totally understand the concept of steem or pretty much any of this lol. Any tips are welcome!
https://steemit.com/steemit/@vinnu/how-to-grow-when-you-are-new-to-steemit-and-how-get-upvotes-in-just-minutes-by-minnowsupport you can go through this post if you are new and after that you will be in autopilot bcz you will meet many new members on discord and if you need more help just ping me again ready to help
I have a feeling in the nearish future, IOTA will become really big. It depends how well they go and whether others follow, setting them up as the backbone initial company that did things their way and raising their price a lot. Nice article though mate.
Thank you :). I am also having the same feeling and eagerly waiting for their smart contract platform to release, soon we will see machine to machine economy :)
How do they createโ new tokens?
Do we get Iota if we confirm two transactions?
nopes you are not rewarded for confirming other two old transactions its like for a new transaction to be shown in the network you have to confirm other two old transactions and likewise new other transaction will only be shown if it confirm past two transaction which will include your transaction likewise tangle will keep on running.
BC I will be closing my IOTA margin long at a break even soon, gaand mar ke rakkhi hai isne lol, will get in again when it breaks out again.
lol
This post has received a 1.56 % upvote from @drotto thanks to: @banjo.