IOTA
$0.49311 0.19%

Another Intro to IOTA, IoT, DAG protocol, & more

IoT or Internet of Things, M2M or Machine to Machine. Micro Transactions. These are relatively new terms not commonly known outside of the technosphere, but are going to have a significant impact on you and societies around the world in the near future. In fact, this technology is already making use of the international interconnected infrastructure that has been built. In general, these terms describe systems where connected devices communicate with each other without human intervention. As the world becomes more connected, it’s inevitable that our devices, even our dumb appliances, are going to also become connected. They will become smart devices. Refrigerators will update your shopping list automatically. Bicycles for rent will charge by the minute. You’ll pay for public wi-fi as you hop node to node. Cars will communicate with each other to prevent collisions. Roaming drones will compete for your business to deliver your package across town. Medical equipment will talk to nurses, doctors, and service technicians. This isn’t even scratching the surface of what the machine economy and Internet of Things is capable of. While some of these are happening to some extent now, what they lack is a common, customized platform. IOTA aims to change that.

THE INTERNET OF THINGS

IOTA protocol is an encrypted network by which devices can communicate and transfer value with no fees. This network is called a Directed Acyclic Graph (DAG), or tangle. A DAG is fundamentally different than a blockchain in that it’s not a linear chain and there are no blocks, but rather a mesh network. While a transaction on a blockchain has one path to its validation, through the last block produced, a transaction on the tangle has many interconnected paths to its validation point and doesn’t have to wait for a single block to validate it. The way a blockchain works is synchronous. That means a transaction must wait for a block to be produced which contains many transactions. That bloc...

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MIOTA +0.19% · medium.com · 5h

A rating report of IOTA

The source of information in this report is market disclosure information. Gyro Finance does not guarantee the accuracy, reliability or completeness of such information. It is used as a reference…