What is Cryptographic Asset (Virtual Currency) IOTA? Intro to its Features and Prospects!!

“What currency is the cryptographic asset (virtual currency) IOTA?”

“I want to know the characteristics of IOTA.”

“What is the relationship with IoT that often appears in IOTA?”

Do you have the above questions or concerns?

Cryptographic asset (cryptocurrency), IOTA, is a currency developed to measure the maximization of payments for IoT devices that connect goods to the Internet, and as of May 30th, 2019, has a market capitalization ranking of 15th. It is a popular coin.

However, if you are concerned about IOTA and are thinking about investing, it is uneasy to invest without knowing anything about IOTA.

Therefore, this article introduces IOTA’s outline and features to beginners in an easy-to-understand manner.

 

What is Cryptographic asset IOTA?

Cryptographic asset (cryptocurrency) IOTA is a cryptographic currency suitable for payment when using IoT devices.

First of all, the Internet of Things (IoT) is a concept of connecting the Internet to things that we use in our daily lives, such as personal computers, cars and home appliances.

Therefore, terminals called “IoT devices” on the Internet or TV refer to things connected to the Internet.

In fact, you can turn on the TV and washing machine on your smartphone and manage information on home appliances.

By the way, isn’t it likely that you can expect in the future just by listening to “IoT devices” and “cryptographic assets”?

In fact, IOTA has made a shocking debut with a rapid rise to the sixth place in the market capitalization ranking of cryptographic assets on the day that it was listed.

In addition, IOTA has partnered with Botsh (Bosch), a famous German car parts maker, Microsoft (Microsoft), Fujitsu in Japan and other countries.

 

It is no exaggeration to say that the future of cryptographic assets is supported by partner companies, but IOTA is attracting attention from many users as it is already working on partnerships with major companies.

However, if you implement blockchains in IoT devices, problems will arise in security and cost.

IOTA solves this problem using a technology called Tangle.

 

Characteristics of IOTA

Tangle technology that supports IOTA is a major feature of IOTA.

I will introduce “Tangle” and “DAG” in this article.

 

What is IOTA’s Tangle?

Tangle is a technology that supports IOTA, and is said to be a next-generation blockchain that goes beyond the conventional blockchain.

With traditional blockchains, you will have to pay the transaction fee to a minor and the micropayments will have to pay for it.

However, if you introduce Tangle, you can make transaction fasters, and there may even be no fee.

 

About DAG (Directed Acyclic Graph)

One of the reasons Tangle can speed up transaction fees free of charge is that it employs a mechanism called DAG (Directed Acyclic Graph).

Quote:IOTA:【Intro】Great Tx dissection! What is the wallet doing behind the scenes?

In the blockchain, transaction information is aggregated into blocks, and multiple transaction information is recorded by linking the chains one by one in one direction.

DAG connects transaction information in multiple chains in one direction so that more transactions can be recorded.

The big difference between the two is that the blockchain records transaction information in one, while DAG records transaction information separately.

In other words, Tangle does not use mining by using DAG. Therefore, even if it takes a long time to process one block, the other block can complete the transaction processing, which can realize faster remittance.

 

Main Cryptographic Asset Exchanges to buy and sell IOTA

Binance

Bitfinex

OKEx

Extrates

IOTA Official Information

Official Website

Official Twitter

Official Facebook

Whitepaper

Official Github

Official YouTube

 

Summary

・IOTA is a cryptographic currency suitable for payment when using IoT devices.

・The cost and security problems of IOTA are solved by the technology called Tangle.

・IOTA has already been working with major companies such as Fujitsu and Microsoft.

I explained the outline and features of the cryptographic asset IOTA, but could you refer to it?

The IoT device market and the crypto asset market are two areas where the market is likely to expand in the next few years, so there is great hope for the growth of future IOTA projects.

If you have not purchased IOTA, you may want to take a look at it.