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What Makes IOTA (MIOTA) Tangle Ahead of Its Competition?

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IOTA
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IOTA has been one of the most talked-about currencies lately, as the team behind IOTA is stepping up with delivering their technology to the point of fixing “real life” problems. That is how IOTA now has the first IOTA charging station for electric vehicles, as launched due to their cooperation with Elaad. The station is fully operational in the Netherlands. However, IOTA charging stations for electric vehicles are not the only technological achievement made by IOTA – we are thus interested in listing all the reasons that make IOTA’s Tangle ahead of its competition in the technological sense.

IOTA and Tangle

Although IOTA is working in the field of blockchain-based operations, delivering a scalable platform with the ability to lead the blockchain technology towards being adopted in industrial scales, IOTA’s network called Tangle is more than blockchain technology.

The main difference between the Tangle network and a common blockchain-based network is the fact that Tangle can work on larger projects, which helps IOTA identify with a high level of innovation when it comes to bringing novelties into the world of blockchain technology and decentralization.

That is how IOTA is able to power up a fully operational crypto-charging station for electric vehicles, while this task would be one bite too much for many cryptocurrencies, even the advanced one in the technological sense of speaking.

Another thing that makes Tangle stand out from the crowd of blockchain-based platforms is the ability of Tangle to record all transactions being done through this network on the entire network, instead of recording transactions on a single chain, like it is the case with the majority of digital assets with native platforms.  

Thanks to this protocol, Tangle makes up for a more scalable decentralized environment which means that IOTA’s network makes accepting implementations and modifications far easier and simpler.

In addition to this case, Tangle also enables users with a plan of creating decentralized applications of larger scales, to easily adapt a used portion of the network in order to make decentralized applications for industrial purposes.

IOTA and Making Payments

Blockchain-based transactions, as it is already proven multiple times before, makes up for a great choice when making global transactions, especially when compared to the way transactions are being traditionally made.

However, although blockchain technology is, in fact, a faster and more cost-effective way of making payments, some platforms make a better choice for making transactions.

That is how Bitcoin, although the first and original cryptocurrency, isn’t fast enough when it comes to making transactions in oppose to a portion of other platforms and cryptos. IOTA is one of such cryptos because transactions are made to be very fast on IOTA’s Tangle.

IOTA made a protocol for Tangle that enables fast transactions by working in a unique way. Apparently, Tangle is made to act in a way that the more users are using the network, the shorter the time of making a transaction would be. That way, IOTA can avoid traffic jams and prolonged transaction time.

In addition to having a jam-free network with fats processing time, the confirmation time on IOTA’s Tangle is also reduced to a minimum, while most platforms take a double-digit number in order to process a transaction.

Although 20 seconds is still faster than waiting for 3 to 5 days with traditional transactions, this is still very slow for blockchain technology standards. That is how IOTA is solving a double-digit number for processing transaction with Tangle.

IOTA and Little or No-Fee Micro-Payments

In order to provide a near-flawless user experience when it comes to making micro-payments, IOTA has designed its network to be able to process small payments without applying large fees. That is how IOTA is designed to “ask” for fairly low fees or set a no-fee policy at all where applicable.

The majority of other networks are not feasible enough to be able to process small payments in a way IOTA does, so Tangle wins another round here while going ahead of its competition.

IOTA and Utter Scalability

Scalability is usually the number one problem for the majority of blockchain-based platforms. This, yet again, is not the case with IOTA’s Tangle.

Tangle is created in a way that enables this network to become faster with the increasing number of users and transactions processed through its decentralized platform. This is not the case with its competition, as many networks have major problems with jammed traffic which is the result of a non-scalable ecosystem.

Due to its increased scalability, IOTA is also able to easily apply changes and modifications to the system, which makes it easily modified and highly scalable, which is more than needed for future updates and technological evolution.

IOTA and IoT

IOTA goes beyond a simple method of payment and a platform for making fast transactions on a global level. IOTA, thanks to its advanced technology that gave birth to Tangle, has an amazingly bright future in the Internet of Things.

This is the case because users of MIOTA can easily use this technology for IoT integration, using IOTA for machine-to-machine communication.

With IOTA, all purposes related to the Internet of Things can be easily supported as Tangle stands for integrity, safety and protection of all users’ data and information, making machine-to-machine communication easier than ever which can be seen in its latest technological achievement – the IOTA charging station for electric vehicles.

How is IOTA doing at the Current Moment?

IOTA is one of the currencies that have been doing a great job in recovering from the market crash, which means that IOTA has been showing signs of trading up in the green for days. However, we can see that the situation in the market started to change as IOTA is dropping after the most recent change in the market.

After the latest change, MIOTA is trading in the red while dropping at the rate of -14.28% against the dollar, which is a pretty negative turn out for this currency given the fact that it was doing a great job with its rebound against the market crash.

The record price of IOTA as marked back at the end of 2017, in December went up to around 5.30$ per one unit. Although MIOTA was slowly progressing towards acquiring its record price again, the latest drop of over -14% made it farther from this goal.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Andrew Hart via Flickr

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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