IOTA uses a superior, scalable architecture, known as a Directed Acyclic Graph (DAG).
The technology is constructed for the challenges of the IoT (Internet of Things). It provides fee less, scalable transactional settlements and data transfer. AKA: machine-2-machine payments.
Is it secure compared to the traditional blockchain?
The answers is yes. It is actually even more secure.
A distributed ledger network is only vulnerable to attack when 51% of the mining power is controlled by a single entity. Some say that 33-34% are sufficient. Either way in order to effectively control 34% of the hashpower, a very large amount of people world have to conspire simultaniously to attempt an attack on the Tangle.
The BTC blockchain in comparison, is controlled by 5 major mining pools, mainly situated in China. If the were a colusion between miners, the network integrity would be at risk.
Every blockchain is susceptible to this form of attack, as the high computational needs favor that miners join pools, resulting in increased centralization.
How does Iota handle double spending on the network?
Conflicting transactions can exist in the Tangle
Network has to decide which Tx (subtangle) will not get orphaned
Methodology: Run tip selection algorithm many times and see how frequent the conflicting Tx are (indirectly) approved by the tips.
Result: Transactions in the subTangle with less hashing power will eventually get orphaned
Iota has an operator. Is the network decentralized?
Yes the network is decentralized.
The Tangle is in beta and under constant development. The operator is already optional and will soon be completely obsolete once the network can selfsustain. Improvements to the protocol are planed in order to further optimize for the Internet of Things. A constantly evolving world needs an equaly adaptable technology and ecosystem that can rise to the challenges of real world adoption.
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Iotaforall
Iotaforall: Free writer/not affiliated with Iota/not employed by A.F.
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nice post
thanks @fairgirl :)
A comprar muchas Iota
Si tio Iota hasta la luna:)
IOTA and Steem are unprecedented innovations.
The question is, what is more comfortable to use in basic transactions: IOTA or Steem? They have both free transactions.
now Steem on the Tangle that would be the real deal;)
He,he -don't forget my share in this idea ;)
Wallet is still buggy:) will resume soon m8
Hey @kungalu not just a matter of comfort. Steem works inflationary if im not mistaken. Iota is capped and the supply is quite limited. The usage is completely diffent too since Iota is mainly for the IoT or alternatively for humans too. Steem runs on a blockchain "dinosaur" architecture. The DAG is superior in many ways. One being limitless scaling:)
"blockchain "dinosaur" architecture" -thats right :)
So IOTA is the choice.
Jup🙂
Please don't use tag #deutsch if your post is written in English. I will remove my flag/downvote if you remove the tag #deutsch.
alright. Fyi this is german technology and im a german c creator
In dem Fall, willkommen auf Steemit :-) Schau einfach mal bei uns im Chat vorbei: https://steemit.chat/channel/deutsch
Danke dir:)
you can unflag now tag is gone.
Done
ty:)
This post received a 3.8% upvote from @randowhale thanks to @steemhoops99! For more information, click here!
My friend, a kind reminder here.
#cn tag is stand for chinese.
However, no chinese was detected in this article.
Please use wisely for your tag,thank you.