The decentralised Internet of Things Token cryptocurrency, also known as IOTA is proving very promising as professionals are predicting it to become the fastest growing market in the next couple of years.
The aim is that in a couple of years all online devices and machines will communicate with each other. However, at the moment there is still a major obstacle to overcome and that is the vast number of devices needed to connect. IOTA has a long way to go definitely, however professionals are is showing promising actions into facilitating this.
So, how is IOTA diferent from its competition. All cryptocurrencies currently have been based on blockchain, and nearly all are connected in some way to Bitcoin or Ethereum. IOTA goes beyond blockchain and is the first cryptocurrency that actually provides the whole ecosystem based on blockless blockchain. That means that instead of being based on a blockchain, it is based on a Tangle, retaining all the features of secure transatctions, but unlike blockchain it does not work in blocks. This means that no blockchain technology will be able to match IOTA’s because users and validators are in the same Tangle.
Another reason invesors are seeing a lot of potential in IOTA is the fact that the cryptocurrency has no limit for scaling.This is the main problem with cryptocurrencies based on blockchain. In theory, cryptodaily reports, that IOTA’s network could become indefinitely scalable with zero costs. And that is only because of the fact that every transaction it creates verifies two new other transactions in the network.
This is completely new in the cryptocurrency world and is the main reason to why IOTA is so quickly spreading.Will you be able to risk investing in the currency?