With blockchain technology making the most headlines in crypto innovation, IOTA offers users a completely new digital framework that promises a similar level of innovation, but on a much larger, industrial scale.
IOTA’s main driver is Tangle, which, unlike a blockchain, maps transactions across an entire network rather than a single data chain.
This helps to diversify IOTA’s implementation capabilities and scope, especially for customers who want to integrate distributed ledger technology into an industrial system.
What are the main advantages of IOTA over Blockchain for the Bitcoin trader?
1. the transaction speed: One of the biggest problems with the blockchain, as it was originally developed for Bitcoin trader, are the relatively slow transaction times. From today’s perspective, transfer rates are currently in the low two-digit range, which, to be honest, is quite slow for many modern applications and supposed to be a scam according to Bitcoin trader. IOTA uses a system where transaction rates increase dramatically the more customers use their platform.
2. micropayments: When using regular blockchain-based payment portals, transaction fees are typically set by the sender/initiator of the transaction. This makes it increasingly impossible to process smaller payment amounts. One of the biggest advantages of IOTA is the ability to handle small payments with little to no transaction fees.
3. scalability: Technically, IOTA uses a processing module that becomes faster as the number of subscribers and transactions increases. It is also worth noting that when using IOTA, the time between placing a transaction and its validation is zero once a certain data size has been reached.
4 Ready for the Future: One of the key questions for customers using the blockchain is that the technology is quite costly in terms of security requirements. For example, to implement Bitcoin mining processes, more computing power is required over time. IOTA reduces these high cost requirements by eliminating key areas of the conventional mining process.
5. security when using the block: When using the blockchain, its owner theoretically has the power to manipulate the system with new data and modify it for personal gain. This creates a concrete dilemma for companies that want to integrate the blockchain with externally auditable applications where the immutability of the data must be guaranteed at all times.
What makes the Ethereum code so attractive for industrial use?
In addition to the advantages mentioned above, the use of the Ethereum code can also go beyond the use as a simple payment protocol. For example, large companies can use Ethereum code technology to defend scam off their Internet of Things use cases. Through the use of Masked Authenticated Messaging (MAM), IOTA is able to streamline encrypted data transfers while ensuring a high level of integrity, data protection and data access management.
With the “crypto revolution” now in full swing, more and more users are looking for real technological opportunities to make micropayments a reality. IOTA not only offers a platform that has the potential to facilitate digital payments for everyday transactions and commerce, but also provides a technology that makes IoT communication a reality.