Hi I'm Iota! What ? Where? When? How is $ 1.7 billion? The 6th place on the Market Cap?
IOTA description:
Based in Oct 2015 for solving problem Internet-of-Things (IoT), transactions fee in blockchain is too huge for Internet of things (from car to light bulb).
In blockchain you need to pay to miners or coin holders for confirmation. In IOTA users confirm transactions of other users.
Zero Fees, you can make micropayment in realtime.
Instead of blockchain they use DAG – ** directed acyclic graph**.
Tech info about DAG.Total in system 2,779,530,283,277,761 Iota (MAX_SAFE_INTEGER - Javascript)
ICO / Crowdsale was in Dec 2015, funded 1,337 bitcoin for development.
Owners David Sonstebo, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov.
Popov laid out the math required for the Tangle, Serguei and Dominik written into code, The project is led by David.The more transactions, the more quickly each transaction will be confirmed.
From March till Jun was exchanges, prices here .
Links:
Website
Buy
Reddit
API
Byteball vs IOTA-token
Bonus: ICO Analysis: IOTA from hacked.com for free.
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What does Iota do exactly?
Provides service for transaction without fees. Fast Free Secure.
But Steem already does that. So What is the difference?
steem just currency - you mean BitShares? they use different technologies, blockchain vs DAG.
Blockchain - slow when you have many transaction per second, DAG - fast.
They different, I don't know who is better.
Oooh ok thanks for taking the time to answer
resteem would be best thanks :D
So, it looks like this would be spun up by a private entity since there'd be no reason for individuals to set up nodes and support the network.
However, once spun up, you'd enjoy secured, immutable transactions between you infrastructure and your objects. One that scales to handle countless transactions without buckling.
The math and description is fascinating, but its pretty difficult to see the immediate use case, or what could even built on top of it.
So, if single companies will be building it out, then why bother putting it in a 'blockchain-like' data structure? Just use client auth and a normal database...
Unless they build out the infrastructure themselves and multi-tenant it - Tangle-As-A-Service.
No smart contracts either at the moment... And most of their Dev buttons don't link to anything: https://dev.iota.org/index.html#
Yeah, I think that is a bit odd
Any ideas why the price went crazy, when it's been around for a relatively long time?
Who know?
2,779,530,283 Miot total, almost as bitshares. At least price should be the same from start around 0.3$
If technology will be stable and work fast and free, then price goes to the moon.
Thanks for writing about it - I joined IOTA and hope it flies
Thanks for the free analysis. Here is my take on IOTA: https://steemit.com/iota/@wolfofcrypto/iota-is-it-worth-one-iota
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