IOTA is a scalable, modular and transaction costless cryptocurrency that carries on a business in the Internet of Things (IoT) sector. Tangle is one of the prominent features of this cryptocurrency. Let’s take a look at this innovative cryptocurrency and its Tangle technology.
IOTA specifically designed to solve lots of problems about the IoT sector. In the IoT sector, transaction fees for micro-transactions sometimes can be too much and exceed the real transaction value. So, this makes the whole concept highly unlogical. With current and standard blockchain technology, its nearly impossible to solve this problem.
IOTA uses a special technology called Tangle and claims that solved this basic problem for the IoT sector.
What is Tangle Technology?
Tangle is a highly scalable, target-driven and revolutionary technology. It uses a distributed technology without actual blocks. Thus, it offers asset transfer without any commission. By doing this, Tangle actually solves the micro-transaction cost problem. Users can connect different devices into each other with Tangle and enjoy commissionless transfers.
How Does IOTA Work?
Tangle works on a basis that while one transaction wait to be validated, users have to work for other transactions validations. So, every user that makes a transaction actually works for the security of the network too. Tangle has an open-sourced and, unprecedented distributed ledger structure. Every transaction within Tangle is approved by one or two previous transactions.
IOTA is seen as a revolutionary technology for the IoT sector.
According to press time, IOTA is the 22th biggest cryptocurrency in the sector with its total market value. It has a $0,23 unit price and $660 million total market cap. Iota managed to shine out by its partnership deals with Microsoft or Fujitsu.
How can I purchase IOTA?
You can buy IOTA from popular cryptocurrency exchange Binance.
