02-11-2021, 12:41 AM
Why you should pay more attention to IOTA
<!-- SC_OFF --><div class="md"><p>Full disclosure: I own IOTA. Have been in it since 2016.</p> <p>Even though Bitcoin, Dogecoin and ETH are getting all the hype right now, it is important to learn about other players in the market with potentially better tech.</p> <p>IOTA is a direct competitor to ETH, ChainLink, XRP, NANO, LTC and Bitcoin. IOTA was created to have no transaction fees and scale immensly.</p> <p>There are multiple advantages to IOTA when compared to other competitors:</p> <ol> <li>Fee-less</li> <li>Supported by non-profit foundation since 2017</li> <li><a href="https://blog.iota.org/introducing-iota-oracles/">Oracles, like Chainlink, it lets you upload an API to the ledger</a></li> <li>This DLT <a href="https://chrysalis.iota.org/">is upgrading its platform to reusable addresses and UTXO</a>Switching to binary, getting rid of their hash algorithm for a commonplace one.</li> <li><a href="https://blog.iota.org/iota-smart-contracts-pre-alpha-released-40efad27994b/">They have planned tokenization and smart contracts.</a>Just like eth but the fundamental layer is free to use and has been tested sustain over 1000 confirmed transactions per seccond.</li> <li><a href="https://www.iota.org/foundation/research-papers">Supported by published research papers</a></li> <li><a href="https://coordicide.iota.org/">Coordicide</a>: Removal of coordinator</li> <li>Many partnerships including Eclipse and 11m€ grant with the German Ministry of Transportation and ETOGruppe</li> </ol> <p>Unlike many other cryptos, IOTA has zero fees. This is a major advantage compared to other cryptos, especially since Bitcoin and Ethereum can get really expensive really fast. Currently the fees for Eth and Btc transactions are around $10. This is a major drawback for small everyday transactions, microtransactions, data transfer or machine to machine messages.</p> <p><strong>IOTA is Eco-friendly</strong></p> <p>I think this is a huge point that many people overlook. With the rise of Bitcoin, more and more power is dedicated to mining/processing transactions, and at a certain point the cost of doing so will be insane. With IOTA, thousands of transactions can happen at the same time without the insane energy consumption that we are all used to seeing.</p> <p><strong>Conclusion:</strong></p> <p>These are just a few advantages that people should know about IOTA. If the goal is to truly make a convenient crypto that lets people or machines to freely transact and send messages, there is a strong argument for the IOTA token. Additionally, The IOTA Foundation has over 40 engineer and even more employees. Good luck, thank you for reading this and happy investing!</p> <p>​</p> <p><strong>EDIT:</strong> As <a href="https://www.reddit.com/r/CryptoCurrency/comments/lgpbs5/why_you_should_pay_more_attention_to_iota/gmv78xl">moofie88</a> mentioned:</p> <blockquote> <p>there are approximately 120 FTE working in the IF. This gives me the trust that they could deliver to their promises</p> </blockquote> <p>​</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/backshesh"> /u/backshesh </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lgpbs5/why_you_should_pay_more_attention_to_iota/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lgpbs5/why_you_should_pay_more_attention_to_iota/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Full disclosure: I own IOTA. Have been in it since 2016.</p> <p>Even though Bitcoin, Dogecoin and ETH are getting all the hype right now, it is important to learn about other players in the market with potentially better tech.</p> <p>IOTA is a direct competitor to ETH, ChainLink, XRP, NANO, LTC and Bitcoin. IOTA was created to have no transaction fees and scale immensly.</p> <p>There are multiple advantages to IOTA when compared to other competitors:</p> <ol> <li>Fee-less</li> <li>Supported by non-profit foundation since 2017</li> <li><a href="https://blog.iota.org/introducing-iota-oracles/">Oracles, like Chainlink, it lets you upload an API to the ledger</a></li> <li>This DLT <a href="https://chrysalis.iota.org/">is upgrading its platform to reusable addresses and UTXO</a>Switching to binary, getting rid of their hash algorithm for a commonplace one.</li> <li><a href="https://blog.iota.org/iota-smart-contracts-pre-alpha-released-40efad27994b/">They have planned tokenization and smart contracts.</a>Just like eth but the fundamental layer is free to use and has been tested sustain over 1000 confirmed transactions per seccond.</li> <li><a href="https://www.iota.org/foundation/research-papers">Supported by published research papers</a></li> <li><a href="https://coordicide.iota.org/">Coordicide</a>: Removal of coordinator</li> <li>Many partnerships including Eclipse and 11m€ grant with the German Ministry of Transportation and ETOGruppe</li> </ol> <p>Unlike many other cryptos, IOTA has zero fees. This is a major advantage compared to other cryptos, especially since Bitcoin and Ethereum can get really expensive really fast. Currently the fees for Eth and Btc transactions are around $10. This is a major drawback for small everyday transactions, microtransactions, data transfer or machine to machine messages.</p> <p><strong>IOTA is Eco-friendly</strong></p> <p>I think this is a huge point that many people overlook. With the rise of Bitcoin, more and more power is dedicated to mining/processing transactions, and at a certain point the cost of doing so will be insane. With IOTA, thousands of transactions can happen at the same time without the insane energy consumption that we are all used to seeing.</p> <p><strong>Conclusion:</strong></p> <p>These are just a few advantages that people should know about IOTA. If the goal is to truly make a convenient crypto that lets people or machines to freely transact and send messages, there is a strong argument for the IOTA token. Additionally, The IOTA Foundation has over 40 engineer and even more employees. Good luck, thank you for reading this and happy investing!</p> <p>​</p> <p><strong>EDIT:</strong> As <a href="https://www.reddit.com/r/CryptoCurrency/comments/lgpbs5/why_you_should_pay_more_attention_to_iota/gmv78xl">moofie88</a> mentioned:</p> <blockquote> <p>there are approximately 120 FTE working in the IF. This gives me the trust that they could deliver to their promises</p> </blockquote> <p>​</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/backshesh"> /u/backshesh </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lgpbs5/why_you_should_pay_more_attention_to_iota/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lgpbs5/why_you_should_pay_more_attention_to_iota/">[comments]</a></span>Kind Regards R