IOTA MIOTA

$1.08
Market Cap $ 3.004 Bn (#9)
24h Volume $ 42.616 MM
Chg. 24h: 0.39%
Algo. score 4.0/5  (#27)
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IOTA project purpose and description

IOTA clarity of purpose

IOTA purpose and aspects

IOTA offers infinite scalability using quantum-resistant DAG and zero fees

IOTA additional differentiation against competition

Protocol is a directed acyclic graph (DAG) called the tangle instead of the traditional blockchain. Where a blockchain is a linked list where every block points to a unique descendant, in the tangle, a block links to two previous blocks.

Short description

IOTA is a revolutionary new transaction settlement and data transfer layer for the Internet of Things (IoT). It is based on a new distributed ledger technology, the Tangle, which overcomes the inefficiencies of current Blockchain designs and introduces a new way of reaching consensus in a decentralized peer-to-peer system. Using IOTA, for the first time ever, people and machines can transfer money and/or data without any transaction fees in a trustless, permissionless, and decentralized environment. This means that even nano-payments are possible without the need for a trusted intermediary of any kind.

Abstract

In this paper we analyze the mathematical foundations of IOTA, a cryptocurrency for the Internet-of-Things (IoT) industry. The main feature of this novel cryptocurrency is the tangle, a directed acyclic graph (DAG) for storing transactions. The tangle naturally succeeds the blockchain as its next revolutionary step, and offers features that are required to establish a machineto-machine micropayment system. An essential contribution of this paper is a family of Markov Chain Monte Carlo (MCMC) algorithms. These algorithms select attachment sites on the tangle for a transaction that has just arrived .

Link to Roadmap: https://blog.iota.org/iota-development-roadmap-74741f37ed01
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