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Iota: Everything that matters about cryptocurrency

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What is Iota – the future of cryptocurrency?

What is an atom we will tell you.

Photo: Getty Images / allanswart

Updated: 07/17/2021 – 9:11 PM

What is an atom? The open source technology has many advantages over other cryptocurrencies.

Even before Bitcoin (BTC), Ethereum (ETH) and other well-known cryptocurrencies, Iota is probably the most likely. It cannot be manipulated with wealth or computing power. yes What is an atom? Actually exactly?

What is an atom

The IOTA protocol is an open source technology that aims to enable the secure exchange of information and values ​​in the Internet of Things (IoT). Unlike comparable tokens, the protocol is not based on a traditional blockchain, but on a proprietary architecture, the “Tangle”.

First: We explain terms like DLT, PoW, and PoS in our article on blockchain.

Blockchain vs. Tangle

As with the blockchain, Tangle is also a so-called distributed ledger technology (DLT). The name itself basically describes the nature of entanglement. Unlike the blockchain, it does not appear as a chain, but rather as a kind of chaotic network.

The obvious advantage of the network is that all Iota transactions can run parallel to each other. This means that Tangle does not need a traditional Proof of Work (PoW) or Proof of Stake (PoS).

Instead, each member of the Iota network must confirm two previous transactions in order to perform their own transaction. Tangle is also interesting before small payments, where any number of transactions can be processed without incurring fees.

Is IOTA a cryptocurrency?

Yes, but with obvious advantages. In itself, Iota is a cryptocurrency, but it differs from others in many ways. It is a third generation crypto asset. Thus it represents its own Internet of Things, and in addition to its existence as a cryptocurrency, it has a number of other advantages.

In order to reduce storage efficiency and environmental footprint, a snapshot of the Iota tangle is taken at regular intervals. This in turn marks the new starting point for the following shots.

Aside from not requiring miners, Iota also does not have a cash-generating process in progress. This means that the initially set cap of 2.7 billion tokens cannot be split or expanded. As a rule, cryptocurrency is traded on exchanges in the form of Mega-Iota (MIOTA). One MIOTA corresponds to a million Iota.

Quelle: IOTA Foundation

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