Something about IOTA
First of all, it is necessary to know wat is this IoT( internet of things ). We all live in a world of comunication, where the interaction of humans with technology is expanding every day. Curently many devices (cars, household appliances like smart TV, smart fridges, smart lighting, smart thermostats, furnitures, etc) are being implemented with software, which allows them to store data and share it with other devices. The idea of the "Internet of things" is that the devices can interact with each other through a global network.
IOTA is a crypto currency, which is designed specifically for the Internet of things and is based of the concept of the Tangle,which is a distributed accounting journal.
HOW IOTA WORKS
In contrast to the classic blockchain system , the IOTA system uses a direct acyclic graph DAG(Tangle). A DAG based network consists of transactions. With the appearance of a new transaaction, it most first approve 2 other ones , which in the network were held in front of it. The idea of the creators was that the new transaction receiving indirect and direct approval should be better accepted by system. In other words the more approvals the more weight the deal gets.
DO I NEEDTO INVEST IN IOTA?
The Internet of Things provides an opportunity to use the rapidly evolving platform for communication service providers (CSPs) to explore new opportunities to grow this sector and increase revenue. It is predicted that by 2020 the number of connections through IoT will reach 1 billion, so the need for a safe and cheap and scalable microbilling mechanism is obvious to everyone.
Some experts in the field of cryptography believe that the IOTA project has huge potential. However others point out that the system is still far from "mass adoption". But long negotiations and competent effective strategic management of the IOTA-Core led to some cooperation with some real companies.
Look guys I'm not a expert in crypto currency but IOTA coin have some advantages:
Absence of transaction fees. The Tangle system is based on the principle of its work provides unpaid bargains. So...usual transactions with other crypto currencies are checked and approved by the miners who extract it. In the new technology each new transaction forms a new chain block and confirms itselfs by confirming the other two that went before it. The chain is scaled and self identified. I think such a feature of IOTA can in the future become a driver for many new business models.
Scalability. In the new technology scalability and adaptability to high level systems where devices carry thousands and millions of transactions a normal situation.
Offline transactions. Blockchain is a concept of a global state where each participant of the network synchronizes with the common system for purpose of making a payment. The Tangle does not have such strict requirements and even let users make payments using coins in an offline environment.
In the main crypto currencies the implementation of microtransactions involves a number of problematic aspects: high commissions to the miners and a long time for confirmation by other users. In the Tangle you don't have this problem. This is due to the fact that the platform is completely self sustaining. There are no miners in it. And the owners of coins themselves can confirm the transactions of the users. There are no commissions within the system.
In this regard investing in IOTA is a good choice for the future....
Iota website = http://www.iota.org
Please comment :)