Tag Archives: iota

IOTA Summary,

WHAT IS IOTA

IOTA is an open-source distributed ledger cryptocurrency focused on providing secure communications and payments between machines on the Internet of things.

Instead of a blockchain it uses a directed acrylic graph (DAG) known as the TANGLE

STRENGTHS
  • Infinitely scalable
  • Zero fees
  • No mining, blocks or difficulty adjustments so cannot be centralized by miners
  • Strong team backed by the IOTA foundation
WEAKNESSES
  • Proprietary Technologies- IOTA code is not open sourced. This is a form of centralization that goes against blockchain Ideology
  • Technology- The technology behind IOTA possibly hasn't been around long enough to know how it will work at scale, and how it will hold up to attacks
OPPORTUNITIES

If successful, IOTA using The Tangle could be a viable competitor (or replacement) for blockchain technology. It could become the leader in micro-transactions and the Internet of things data transfer

THREATS

Security and network stability remain to be truly tested under load. Any hack or network congestion could severely effect the price.

5 YEAR OUTLOOK

The long term outlook for IOTA has great potential.

IOTA using the Tangle could be a future market leader. However should the technology become compromised somehow, expect a huge reduction in market cap.

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