Can IOTA Be The Next Ethereum?

What is IOTA? According to the Tangler, IOTA is an innovative new distributed ledger technology to function as the backbone of the Internet of Things. Born in 2014, it is the only technology of its kind that is able to function as the lightweight distributed ledger with scalability, quantum resistance and decentralization for all IoT devices.

This is the first cryptocurrency without a blockchain. Every transaction forms a new block. The transaction is basically verified by itself. Transaction costs are virtually non-existent.

Iota has three main advantages over cryptocurrencies. One, zero transaction costs. Two, potential for indefinite scalability. Three, offline transactions. Iota is based on Tangle, not blockchain. Tangle works with Directed Acyclix Graph (DAG).

Iota is inherently decentralized to an extent that blockchain cannot match. The system has no limit to scaling, the problem that plagues most high volume crypto transactions.

With Iota, we can transition from the Internet of Things (IoT) to the Internet of Everything. All of your machines will communicate with each other. Through Iota one may be able to communicate outside of the internet through such connectors such as BlueTooth, Z-Wave, ZigBee, or LoRa.

This may well be the technology of the future for connectivity. This is well worth a look for anyone intimately involved in cryptocurrency. You can visit Iota.org for more info.