IOTA - ONE OF THE REVELATIONS FOR 2018

bitcoinportugal (44)in #altcoin • 7 years ago (edited)

FEBRUARY 2018, THIS IS AT 1.82 USD
The Cryptocurrency without Blockchain was built to overcome Bitcoin
The IOTA currency rests on a mathematical "tangle" that creators say will make it much faster and more efficient.

IOTA, went from $ 4 billion dollars to more than $ 10 Dollars in just over two weeks. What makes it interesting is that it is not based on a chain of locks; is something completely different.

The IOTA Foundation, the German non-profit organization responsible for cryptography, is working with several technology companies to develop a "decentralized data market".

The IOTA protocol is designed specifically for use on connected devices, says co-founder David Sønstebø. Organizations collect large amounts of data from these devices, from weather tracking systems to sensors that monitor the performance of industrial machinery. But almost all of this information is wasted, based on siled databases without profit from their owners.
IOTA 2.jpg
The IOTA system can solve this in two ways, he says. First, it can guarantee the integrity of this data by securing it in a decentralized proven file. Second, it allows for transactions between the owners of the data, and anyone who wants to buy them there are many companies interested in buying data.
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With IOTA there are no miners. Instead, when a user issues a transaction, that person also validates two previous randomly selected transactions, each of which refers to two other previous transactions and so on. As new transactions are validated, a "tangled confirmation network" grows.