IOTA (MIOTA): Tangle Vs. Blockchain Technology
IOTA (MIOTA) was created and launched by the German non-profit organization IOTA foundation on June 13, 2017. Less than one year after its launch, IOTA is one of leading cryptocurrencies both in the market. IOTA is a stealth cryptocurrency, but unlike others, it does not run on blockchain, it uses its own system Tangle.
How Does IOTA (MIOTA)’s Tangle Work?
In November 2017, IOTA Foundation announced the release of a Data Market Place. The data marketplace of IOTA does not run on the regular blockchain technology. Instead, it uses its own system called Tangle. Tangle creates a blockless distribution for transactions. Here are some important features Tangle adds to IOTA:
- Tangle speeds up transactions
- Unlimited scaling (number of transactions per second)
- No transaction fees
What Is The Difference Between Tangle And Blockchain?
If you have been following cryptocurrency trends, then there is a great probability that you know what blockchain is. While the blockchain technology groups a number of transactions in what is called blocks, things are somewhat different from Tangle.
Tangle creates a new block for every transaction, this completely eliminates the scalability issue plaguing blockchain and fees of having transactions in blocks.
IOTA (MIOTA) Partners With ITIC For The Future
A partnership between IOTA foundation and the International Transport Innovation Center (ITIC) was announced on January 11, 2018. This partnership is aimed at creating a real-life application of cryptocurrency and blockchain for “Smart Cities” of the future.
ITIC hopes to build a network platform for testing technologies for Smart Cities, “Smart mobility testable” as the company refers to it. IOTA, on the other hand, will be developing blockchain protocols for the Internet Of Things (IoT) that the smart city will run on. The partnership announced that a demonstration of their progress will be done later in 2018.
IOTA Foundation To Headline In The Upcoming London Blockchain Week
IOTA foundation is one of the five major companies including DreamTeam, IBM, BTCC and Gibraltar Stock Exchange that will be the major headliners in this year’s London Blockchain week.
The event of this year is targeted at the implementation of digital currency into sectors of every economy, including healthcare, finance, the legal sector and a host of others.
IOTA foundation would be one out of over 50 companies including about 25 blockchain companies that will be exhibiting in London. The London Blockchain week is scheduled to take place on the 18th and 19th of January, 2018.
IOTA (MIOTA) In The Cryptocurrency Market
The IOTA coin (MIOTA) is as at today valued at $3.75USD after its value went down by 3.5%. MOITA holds the 9th position in the cryptocurrency chart with a market cap estimated at $10.4 Billion USD. The maximum supply of the IOTA coin is the same amount in circulation which is $2.8 billion MOITA.