Interesting Facts About IOTA !
For the purpose of decentralization, all the cryptocurrencies are based on blockchain technology except IOTA. It is having decentralization but it does not uses blockchain technology for decentralization, IOTA uses Tangle technology which is mathematically called as DAG (Directed Acyclic Graph) Technology for decentralize transaction system which makes IOTA different than other crypocurrencies which uses blockchain technology. The IOTA uses the protocol which named as Internet of Things Protocol which uses for the machine to machine economy.
Unlike other cryptocurrencies, IOTA does not uses Mining for the transactions and because of that it does not required to pay mining fees to the miners so you can transfer IOTA without any transaction fee which is the best part that I personally like about IOTA.
The transaction speed of IOTA is very impressive than other cryptocurrencies. The fact about IOTA is transaction speed of IOTA is not constant, IOTA vary with the numbers of people which uses IOTA. In Simple way, the more users connect to the IOTA, the transaction speed of IOTA increases. Recently checked IOTA can easily handle transaction speed is 1000 Transaction Per Seconds.
We all know that the bitcoin can be measeured by satoshi but IOTA is having different measurement technique than bitcoin which is similar to the data measurement technique means data is measure by KB, MB, GB as like that IOTA can be measured by i = 1IOTA, 1Ki = 1000 IOTA, 1Mi = 1MILLIANS IOTA, 1B = 1BILLIANS IOTA.
So that’s it for today and comment me what you things about IOTA ?
If you are not followed me then make sure to follow CryptoCover to get latest updates about cryptocurrency.
