Thanks for stopping by my blog to read my IOTA Coin Review!
I’m sure you are well aware how fast cryptocurrency is growing. We are now seeing some incredible ideas and new coins almost daily now.
If you’re new to cryptocurrency I want you to understand with this type of growth it’s not uncommon to see scams popup. If you’re just starting to learn about the IOTA coin you are in the right place!
So lets take a closer look at this cryptocurrency shall we?
IOTA Coin – Unbiased Company Review
The fairly new company IOTA is trying to take a step further than blockchain technology.
I have to admit when I started learning more about the IOTA coin it seemed a bit ridiculous. However I am always willing to keep an open mind.
From what I could understand the IOTA coin makes use of distributed ledgers.
Unlike all other cryptocurrencies it does not use a blockchain.
You’re probably asking isn’t that what crypto is based on right?
The answer is an astounding YES!
There are people out there that know A LOT MORE about blockchain and how it all works.
I am NOT a crypto expert and never claimed to be.
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A few of my crypto friends really like the IOTA coin so here I am!
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IOTA Coin Tangle – What Is It?
The IOTA coin uses a technology it’s developers call the tangel.
Which is based off of a mathematical concept known as directed acyclic graphs.
Don’t let these words scare you. I’m not quite sure what that means either!
So what does it mean?
Basically it was a move from the developers within the design. It’s what separates IOTA from every other cryptocurrency.
Don’t overcomplicate it. Just know it doesn’t use blockchain.
So if it doesn’t use blockchain is the IOTA coin Decentralized?
Within the design we have the removal miners without sacrificing decentralization.
So the answer is yes!
With the need of miners removed so are the need for fee’s.
From what I can tell IOTA coin is completely free to use.
This is because everyone plays a equal role in the network.
Anytime a transaction is made the issuer must authenticate to previous and random transactions.
I will admit it’s an interesting concept.
As you can see it’s really caught the interest of crypto people.
Here is a screen shot of IOTA Coins in Google Trends:
IOTA Coin – Two Important Features
It uses a series of cryptographic algorithms along with many other sophisticated techniques to do this work.
This work is done behind the scenes on such a small scale that any device could manage it without effort.
Ultimately a network like this allows for two important features. Micro transactions and speed.
Micro transactions are transactions that can be worth fractions of cents.
First of all cryptocurrency faces many issues with this largely due to the necessity of miners.
In short you couldn’t purchase a coffee with most blockchain based cryptos.
Companies like Electroneum are trying to change that. It’s very possible we will see this in the near future.
Moving on we have speed. In cryptocurrency speed is measured by TPS. Transactions per second.
In simple terms none of us wanna be stuck waiting hours for a transaction.
IOTA coin claims the more people that use use the network the faster it becomes.
Alleviating the issue blockchain based cryptocurrencies face today.
It is these two features that give rise to IOTA’s purpose which is to support and facilitate a machine to machine economy.
IOTA Coin – Pros and Cons
Some of the things I like about IOTA is their futuristic approach and forward thinking. New technology is always a good thing. The coin itself is rising in value. People are liking the concept and people and the demand is increasing.
Some of the cons with IOTA? Well it’s not widely used. Sometimes people have a difficult time with new ideas. It’s taken blockchain almost ten years to start going mainstream.
Tangel is unproven technology. You could almost say the coin is ahead of it’s time.
IOTA Coin Conclusion
As of right now I have not invested in any IOTA coins. It seems like people like the coin. The demand is increasing. I will probably purchase some IOTA coins in the future.
Thanks for reading my IOTA Coin Review. Remember to subscribe below for my secret tips and strategies.
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