IoT ➞ IOTA.
The Internet of things or IoT is a concept that has burst into the technological and digital world. The Internet of Things is the digital interconnection of everyday objects through "the network". The objects are connected by means of sensors, that measure what happens in our environment and send it to the Internet. So the most insignificant object can become "a connected and intelligent thing."
The main idea of IoT (Internet of Things) is that the internet reaches all kinds of things, not only tablets, mobile phones, smartphones,.. Therefore, through IoT all the devices can be intelligent, being able to send and receive information.
The exponential growth of IoT led to the idea of creating IOTA, the Criptomoneda for the Internet of things. IOTA has a disruptive technology, tangle, which is the essence of this virtual currency and replaces Blockchain.
IOTA, the Criptomoneda of the Internet of Things
The IOTA Criptomoneda was born in 2014 in front of the Internet of things. The information provided by IoT is enormous and much of that information is not only valuable to the owner of the data. Thus, the digital currency IOTA allows the companies of IoT to commercialize the information generated in an open market (B2B). We can say, therefore, that the Criptomoneda was created as "currency of change of the IoT world".
The Internet of things generates countless data that can be monetized through IOTA. For example, a domotics company sells statistical information to an air conditioning company to optimize the energy consumed according to the habits of its customers. Therefore, IOTA makes possible synergies that are beneficial for all the parties: clients and companies that commercialize the information.
IOTA is considered a third-generation Criptomoneda. That is to say, it has some characteristics that make it unique compared to the other virtual currencies. If Blockchain is the technology behind most Criptomonedas, Tange is the technology of IOTA. Tangle is a new protocol that brings unique qualities to IOTA: Infinite scalability, zero commissions, fast and secure transactions...
IOTA's architecture and the non-existence of commissions benefit the payments of little amount. Therefore, the digital currency is perfect for micro-transactions produced in the IoT ecosystem.
Tangle, the implicit technology of IOTA
Tangle is the technology behind IOTA. This new protocol replaces Blockchain, which was previously the only alternative for Criptomonedas. We can say that tangle is a distributed accounting book without blocks, scalable and lightweight (can be used from any device, Smartphone, Laptop...).
Its main development is that its consensus is no longer uncoupled. That is to say, the user and the mining (confirmation of operations) are no longer different entities. The operation of Tange is as follows:
To make a transaction in IOTA (sending money), the user who makes the shipment must confirm two other transactions. These confirmations are carried out through a low-difficulty "work test", i.e. a series of mathematical problems accessible to any digital device (computer, Tablet or mobile). Therefore, the confirmation is made by the users themselves and mining is not necessary.
Tangle Features
These are the benefits of Tange's Criptomoneda:
Scalability. Each transaction requires confirmation of two other transactions. For this reason, more transactions can be verified as the number of users using the network grows. Thus, with IOTA the confirmation times are slower when the network is small and almost instantaneous when the number of users is very large (totally contrary to Blockchain).
Quickly. Against more transactions, faster confirmation.
Simplicity. Anyone with a Smartphone can perform an operation in IOTA and at the same time the two confirmations.
Free. The confirmation made by the users themselves eliminates the mining commissions.
Decentralization. Although the goal of digital currencies is to be decentralized, much of the mining is centralized in large companies. IOTA does not have mining, so the Criptomoneda is completely decentralized.
Security. Despite the simplicity and non-existence of mining, the tangle system is verified and safe.
Data transfer. Tangle liquidates transactions, but you can also store and transfer data. In other words, Tange transfers the data produced by IoT from one device to another and then makes the liquidation through IOTA.
Other applications. This safe and simple transmission of data implies that tangle can be developed in other areas. For example, in the e-voting sector it is taking its first steps.
IOTA quote and position on other Criptomonedas
On June 13, 2017 began to quote IOTA at a price of 0.526 dollars. Until December 2, the Criptomoneda grew to $1.42, but its real explosion began then. On December 8, its price climbed to $5.02 (almost 400% compared to 6 days before). During those days the Criptomoneda ascended to the fourth place in the ranking of capitalization of the market of Criptomonedas.
The price scale of those days was due to the IOTA Foundation agreement with important multinational companies. We are referring to companies of the stature of Microsoft, Samsung, Fujitsu or Volkswagen. The agreement consists of the development of a platform that allows the purchase and sale of data from connected devices.
The exponential growth of the Internet of things has driven the development of a specific criptomoneda for that sector. Its Tange technology makes it different from other digital currencies that use blockchain. In the near future, many of the things that require accounting and are scalable can take advantage of the benefits of IOTA.
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