IOTA HITS 5 IN CRYPTO MARKET CAP!

IOTA HITS #5 IN CRYPTO MARKET CAP!

This under reported coin is now on our radar at BitcoinMyBiz. The feeds across the web tout it as undervalued and here is why. Created in 2015, IOTA is a open-source distributed ledger that does not use a Blockchain. Its innovative new quantum-proof protocol, known as the Tangle, gives rise to unique new features like zero fees, infinite scalability, fast transactions, secure data transfer and many others. Here is how the company explains Tangle: Tangle is a software protocol that fundamentally differs from the blockchain protocol. The brilliance of the Tangle is that transactions are processed in parallel. It differs from blockchain in two main ways:

1. IOTA is able to achieve high transaction throughput by parallelizing validation. As the Tangle grows with more transactions, IOTA becomes faster and more secure with transaction finality happening more quickly as network critical mass is approached.

2. The way consensus is achieved in a blockchain is through a rigorous mechanism that requires multiple parties to “race” against each other in an attempt to add the next block and earn the block rewards. Since “miners” and “users” are decoupled entities, block rewards paid to miners will eventually mostly consist of users’ transaction fees. In the Tangle, “miners” and “users” are no longer decoupled entities.

In order for a transaction to be confirmed on a blockchain, a certain arbitrary time interval must elapse for block creation. The Tangle allows for asynchronous settlement, meaning that there are no extrinsic arbitrary temporal restraints on transaction finalization. The Tangle is programmed in ternary which is a deviation from the traditional binary code. Ternary is much more efficient than binary, and provides for some significant improvements in functionality. The Tangle can be run on binary or ternary systems. IOTA has a market cap of $2,732,695,198 and price of $0.98 at the time of this writing.