IOTA protocol is currently a hot topic and many of us know about this protocol. We are currently involved with blockchain technology and it is spreading widely and becoming popular day by day. Currently, the IOTA protocol has emerged as an alternative to blockchain technology. Simply put, it is a type of distributed ledger technology. It offers an alternative to traditional blockchain technology. The IOTA protocol is an open source distributed ledger that involves unattended micro-transactions and data integrity for machines.
The IOTA protocol is designed to overcome some of the problems it sees as inherently problematic in the crypto space. And through this the underlying problems can be overcome. It is also designed with an open source distributed ledger and is built with the Internet of Things in mind. Know about the issue of scalability when it comes to cryptocurrency networks. Because scalability is an issue that plagues cryptocurrency networks. And because of this problem it cannot handle mainstream payment levels. As we see in the case of Bitcoin, the amount of transactions it handles is limited. It cannot do tiered transactions across different sites like PayPal.
While blockchain technologies have many advantages, traditional blockchain networks also sometimes have some disadvantages such as that they cannot properly cope with high transaction volumes. Problems arise with scalability issues. As a result, the problems of high transaction volume in traditional blockchains remain. And to solve these problems IOTA block concept is included. It solves these problems by breaking away from blocks and introducing a directed acyclic graph structure. An advantage here is that transactions are not deposited or bundled into blocks. Here the transaction blocks are separate and interconnected. Using this protocol, when a transaction is made by a transaction, it must first verify two previous transactions.
This makes these transactions energy-efficient. This consensus process is inherently decentralized. All participants in these protocols are contributing to the validation process. Traditional blockchains may face problems with transaction growth and slow confirmation times thus incurring high fees. As more IOTA transactions occur, the network's capacity to process transactions actually improves. One of its features is that it has a quantum-proof protocol. And this quantum-proof protocol is called 'The Tangle'. The IOTA Tangle DAG does not incur any transaction fees. Countless number of transactions can even be done here every second. The more activities that happen here, the more networks there will be. The more users and transactions there are, the more validation activity is performed. This is not only a solution to scalability issues but also a positive feature of faster confirmation times and larger number of users and transactions.
