IOTA
IOTA
About
IOTA is a cryptocurrency set up to allow data exchange between any data recording machine as part of the Internet of Things. IOTA is novel in that it doesn’t use a blockchain and instead enables a different type of system of a web of connections. The new system is called Tangle and is based on a type of cryptographic verification known as Directed Acyclic Graph (DAG). In order to make a transaction, the user must validate two previous transactions in the web. This means the system is proportional in speed to the number of transactions occurring.
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Foundations - Consensus: Distributed
May 13, 2020
May 13, 2020
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