![]() With the developments towards IoT, the use of IOTA technology has seemingly many real-world applications. Wallet being launched by the IOTA Foundation that is designed specifically for IOTA cryptocurrency. Long-term decentralized platform (Markus, 2019).Īnother project supporting the IOTA technology is the Trinity That eliminates all the coordinators and middle parties from the financial transaction, rendering IOTA a ![]() Manages to breach the chains of the trilemma by integrating the Coordicide.Ĭoordicide, which is being named as the next step in IOTA’s evolution, is a project That IOTA could eliminate all middlemen from the financial transactions and make transactions more scalableįurther affirms that it is certainly the technology of the future if the IOTA foundation Internet of Things, IOTA offers a strong and impactful resource in its core. With the industry talking about the Industrial Revolution 4.0 and the paradigm shift to the Is the main essence of the IOTA technology which separates IOTA with every other cryptocurrency Purpose of faster and cheaper transactions using a mathematical concept of Directed Acyclic Graphs. This enables it to delete the ‘miners,’ and serve the ![]() Unlike many otherĬryptocurrencies, it uses distributed ledgers. IOTA offersĪ unique technique of facilitating transactions by eliminating the need for blockchains. This technologyĪddresses the major concerns of scalability and transaction fees linked with other cryptocurrencies. IOTA (MIOTA), is a cryptocurrency, specifically designed to processįinancial transactions that are faster, safer, cheaper, smaller and scalable (IOTA Support, 2018). Kept other cryptocurrencies on their toes. Iota needs to solve the current problems of scalability, transaction speed, and centralization that has Main currency for all transactions of the Internet of Things (IoT). IOTA is short for Internet of Things Application, and it provides seamless transactions between theĭevices present on the Internet of Things (Garner, 2018).
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