• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

IOTA, a Cryptotoken for the Internet of Things’ Applications

Gautham by Gautham
4 years ago
in Cryptocurrency news
Reading Time: 2min read
Sensor21
Advertisement

Cryptocurrencies, blockchain and the Internet of Things (IoT) are going to be the future. The IOTA tokens combine the goodness of all the three into one. However, unlike Bitcoin and other cryptocurrencies, the IOTA micro-transaction token is based on Tangle ledger specifically designed for the Internet of Things related applications, way back in 2015.

According to publications, the IOTA powered Tangle ledger is ideal for machine-to-machine payment transactions, with particular attention towards data integrity and accuracy. The IOTA tokens overcome the challenges of mining fee and slow transactions posed by popular cryptocurrencies like Bitcoin, rendering microtransactions inefficient.

The rapidly developing IoT segment and the potential uses of distributed ledger technology in the sector make IOTA an ideal solution. The Directed Acyclic Graph (DAG) employed by IOTA’s underlying ledger eliminates the most common problems otherwise presented by conventional blockchain system.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

A recent article on one of the tech resource platforms differentiates between DAG and regular blockchains. The author explains that the DAG considers both users and validators to be the same, whereas blockchain distinguishes between individual users and block validators after creating a chain of consecutive blocks that contains both. On Tangle, users participating in the transactions are recognized and confirmed only after they authorize and approve two previous transactions. These operations will be monitored by Network nodes to prevent any conflict. The structure also eliminates the risk of double spending without clogging the system.

Making it much better is the flexibility of DAG, which allows the IoT network devices to continue using any previously established cryptocurrencies. Few altcoins like Byteball are already utilizing the DAG protocol. The very structure of DAG also eliminates possible centralization of the network (referring to the recent debate on centralization of Bitcoin network due to increased hashing power from Chinese mining pools). Also, the absence of a blockchain removes the necessity of expensive mining hardware like ASIC miners.

The applications of IOTA are not confined to IoT devices alone, and that has been established by other DAG-based platforms supporting the creation and implementation of smart contracts with real-world applications. At the same time, it can make IoT-based autonomous devices and vehicles that can earn and pay for their upkeep a reality.

Ref: All About Circuits | Image: NewsBTC
Tags: blockchainblockchain technologyIoTIOTANewstangle
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Gautham

Gautham

Related Posts

Algorand, OKEx

OKEx Announces Support for USDT and USDC Stablecoins on the Algorand Blockchain

5 hours ago
hashbon

How to Get 0% Commission for Accepting Crypto Payments – Meet Hashbon and Its Native Token

5 hours ago
payment gateway

Open Source vs. Ready-Made Payment Gateways: Which Crypto Processing Option Is Easier to Implement

6 hours ago
Bitcoin Hopes to Retest Record Highs After Powell’s Testimony; Here’s Why

Bitcoin Hopes to Retest Record Highs After Powell’s Testimony; Here’s Why

10 hours ago
coinsbit

In Honour of Coinsbit 3rd Anniversary, the Exchange Is Launching a Unique Staking Pool With 30 Bitcoins up for Grabs, Tickets to the Maldives and More

11 hours ago
okb

OKB Continues to Break its Own Price Records, Hits a New ATH After Crossing $22 Mark

11 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Oxygen Protocol to List OXY Tokens on BitMax

February 24, 2021

HOPR Hosts Global Token Launch Event on February 24th after First-Of-Its-Kind DAO Experiment

February 24, 2021

Egoras- a Decentralized Finance Ecosystem for Growing Markets!

February 23, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.