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IOTA was born in 2014, when the team behind its platform founded a Startup that aimed to develop a microprocessor for the Internet of Things (Internet of Things IoT), referring to the fact that any goal can be connected to the Internet.
The technical core of this criptmoneda eliminates the blocks and, therefore, the latency that arises when these are distributed through the network. At the same time, IOTA creates “snapshot” calls through “Milestones”, through which nodes can discard all transactions that took place before snapshots, this saves hard disk space and facilitates the start of a new node.
Despite being one of the fastest growing cryptocurrencies, it is also one of the most criticized; this is due to several design decisions, among which we can mention the fact that it uses a post-quantum cryptography algorithm, which increases the size of transactions almost ten times, this means that what needs 160 bytes for Bitcoin , needs 1.6 kilobytes for IOTA, being this highly counterproductive if what you want is scalability.
Use a ternary system instead of binary, another reason why many doubt this cryptocurrency, since the current software infrastructure is based on binary systems
Despite these drawbacks, it occupies the 7th place in market capitalization, with a price around US $ 0.55, and it is estimated that by 2020 billions of objects will be connected to the NETWORK, allowing companies to explore new models B2B business, making each technological resource a potential service to be negotiated in an open market in real time; which is one of the major innovations of IOTA and is called “Tangle” a new book distributed without scales, revolutionary, scalable, lightweight and that for the first time allows to transfer value without any charge.
IOTA can, in theory, scale “almost infinitely” thanks to its “Tangle” network structure, but we must not forget that it is an experimental technology that does things so differently that it almost reinvents cryptocurrencies and although the system does not currently can do what it promises to do, many of these drawbacks are already in alpha mode and are tested live on the network, others are planned for the future.
The pace of new innovations presented by IOTA developers is high. At the end of 2017, the new client was launched and, according to community reports, IOTA works great, in any case, a technology in development and growth as IOTA will always have positive things to contribute.
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