At the beginning from the realise I was surprised how many people talked about the cryptocurrency IOTA.
I wondered why this should be an awesome new dimension of crypto currency.
So I started to get information about it, to see what it's all about. ¨
After I made the research I freaked out!
That's why:
First of all, IOTA is not built on blockchain technology like every else popular cryptocurrency, it uses the technology Tangle, which I have never heard before.
Tangle Technology makes it possible to have transactions without any fees. This is a huge step for the cryptocurrency market.
A fact is also that with Tangle it is possible to make almost instant payments. There are no miners needed. And if there are more people who use IOTA more transactions capacity is possible. So it solves the scaling problem that we have by Bitcoin for example.
The three facts above make IOTA so interesting and different from the other cryptocurrencys.
This just shows the difference in the currency. For sure there is a use in this technology for huge other things but I won't reflect them here. If you are interested to read a bit more about IOTA and the possibilities, leave a comment below.
What do you think will be the future of IOTA?