Good Evening Steemian friends
Here is a continuation of the story of Iota an exciting new crypto that has the potential to replace money in a practical sense.
I am not saying replace BTC, my portfolio has BTC but I am using that as a way to store value similar to the way gold and silver does.
Iota will become a major digital currency because it does not use blockchain algorithms instead using DAG. To better understang DAG (Digital acyclic Graph) please watch the Iota interview with David Sonstebo (Iota co-founder) on Slack or on Walla a Youtube channel.
There are four key points that make Iota a winner but first here is a brief description of its platform. You might say Iota as well as being a p2p currency has been designed to serve as the backbone for the Internet-of-Things (IoT)
When you purchase one coin you are buying a Miota. This coin represents 1 million Iota. You or a machine can exchange fractions of a Miota in the blink of an eye between another person or machine. The reason this can be achieved in a practical way is because there are no transaction fees.
In conclusion here are the 4 key points that make Iota the coin to have in your collection
Scalable no speed issues digitally
Decentralized same as blockchain without the centralized mining issue
Modular smart contracts
No Fees a blockless distributed ledger which is scalable and for the first time ever makes it possible to transfer value without any fees.
For more info go to their web page iota.org.
Finally there is one more coin I want in my collection and that is Steem. Now might be a good time to buy as the price is dipping
Cheers and hodl hodl hodl