Most of our cryptocurrencies are based on the blockchain. The blockchain is a wonderful idea and it's already solving many problems like reliable and cheaper banking transactions, cheaper cloud services, immutable copywriting, etc.
But it can't solve all the problems. It has drawbacks too like scalability, transaction fees, slower confirmation of the transaction. If you want to transfer small amount, it does not make sense to pay higher fees.
IOTA comes to the rescue.
It is a blockchainless technology designed specifically for micro and nano payment. Instead of the blockchain, it uses DAG (Directed Acyclic Graph), called Tangle.
Main features:
- Scalable
- Decentralized
- No Transaction Fees
It is an ideal choice for IOT applications. Sensors of IOT application can negotiate with the network and the server without any transaction fee. The Tangle ledger is able to settle transactions with zero fees so devices can trade exact amounts of resources on-demand, as well as store data from sensors and dataloggers securely and verified on the ledger.
Check out its website and white paper for more details.
Currently, it's on 8th rank on coinmarketcap.
Happy Investing!
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