There’s a new cryptocurrency on a block and it’s called IOTA. Technically it’s not a new cryptocurrency it’s been around for a while. recently it’s been listed on Bitfinex and it’s got a lot of attention – so it’s as good as new. It took seventh place in terms of market capitalization in terms of cryptocurrency
Third generation cryptocurrency:
Fast Transactions
Zero Fees
Quantum Proof
How Iota achieves free transactions
Iota has an important technological change over classic cryptocurrencies like Bitcoin and Ethereum – and that’s the fact that it doesn’t use blockchain. Instead, Iota uses Tangle, a new way of achieving network consensus. To understand Tangle and the benefits of Tangle we need to understand how transactions are verified on the Bitcoin network. Bitcoin uses Blockchain technology to create a consensus ledger – that is a database of transactions that everyone on the network agrees upon. ledgers of transactions being formed and linked to each other. Instead of having a single chain of transactions, Tangle has a mesh of transactions and verifications. The beauty of tangle is that every time a transaction is sent you verify two other transactions behind you. Even Ripple has a transaction fee to prevent spam – it has a very low transaction fee but it’s still there.
Please Upvote if you like it.
bitSAFE
Not indicating that the content you copy/paste is not your original work could be seen as plagiarism.
Some tips to share content and add value:
Repeated plagiarized posts are considered spam. Spam is discouraged by the community, and may result in action from the cheetah bot.
Creative Commons: If you are posting content under a Creative Commons license, please attribute and link according to the specific license. If you are posting content under CC0 or Public Domain please consider noting that at the end of your post.
If you are actually the original author, please do reply to let us know!
Thank You!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
http://boxmining.com/what-is-iota-in-a-nutshell/
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit