IOTA - The Future Proof Crypto
The latest buzz in the technology world is quantum computing. Without going into too much detail, quantum computing gives computers the ability to process and mine data and exponentially higher speeds than current computers.
IOTA uses a special kind of signature called the 'Lamport Signature'. This makes the signature and keys so heavily encrypted it is virtually impossible to decrypt. An IOTA private key is 220x bigger than a Bitcoin private key.
Quantum computing is likely to emerge in some form in the next few years. Most cryptocurrencies do not have encryption measures to withstand it. IOTA is the only large crypto with the ability to withstand these attacks.
IOTA gets a lot of flak for their centralized masternode called the 'coordinator'. This is actually necessary given the low hash power of the network. Once the network has achieved the ability to sustain itself, the coordinator will be strategically removed.
✨ What are your views on IOTA? Comment below! 🔽🔽
IOTA also uses Tangle, a DLT that uses no blocks or chains.
A few months back when I did a couple of IOTA coin transfers from an exchange to my wallet, it took almost an hour for the transactions to go through. I understand that as more and more transactions are done on the network the speed of transaction also increases exponentially, making it really fast when the numbers are big, which makes Tangle the most suitable DLT for internet of things.
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STOPIll stick with Grin ;)
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