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Does IOTA’s Tangle has upper hand on Blockchain?


Jan 16, 2018 Posted /  9628 Views


Does IOTA’s Tangle has upper hand on Blockchain?

IOTA (MIOTA) the current number 10 cryptocurrency was created and launched by the German non-profit organization IOTA foundation on June 13, 2017. IOTA is one of leading cryptocurrencies right now and is essentially a stealth cryptocurrency that does not run on the blockchain. Further, it utilizes its own system, which is called as Tangle.

The Tangle system

During November last year IOTA Foundation announced the launch of a Data Marketplace. Now the data marketplace of IOTA does not run on the conventional blockchain technology. As a substitute, it utilizes its own system called Tangle. The tangle creates its own blockless system of distributing information about transactions. The significant pointers about using Tangle that IOTA utilizes are:

  • Tangle quickens the transactions process
  • Unconstrained scaling (number of transactions per second)
  • Zero transaction fees

The fundamental difference between Blockchain and Tangle

If you are a cryptocurrency enthusiast and have been pursuing cryptocurrency inclinations, then there is an immense possibility that you have knowledge about blockchain. Despite the fact that the blockchain technology connects diverse number of transactions in what is called blocks, things are somewhat different with Tangle. Tangle creates a new block for every transaction; this completely dissipates the scalability issue invading blockchain and fees of having transactions in blocks.

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Association With ITIC For The Future

An affiliation between IOTA foundation and the International Transport Innovation Center (ITIC) was announced on January 11, 2018. This partnership has an objective of designing a real-life application of cryptocurrency and blockchain for “Smart Cities” of the future.

ITIC is determined to develop a network platform for testing technologies for Smart Cities, “Smart mobility testable” as the company submits to it. IOTA, on the flip side, will be creating a blockchain protocols for the Internet Of Things (IoT) that the smart city will operate on. The partnership announced that an expression of their advancement would be completed later in 2018.

London Blockchain Week

IOTA foundation will be featured amongst the major corporate like DreamTeam, IBM, BTCC and Gibraltar Stock Exchange which will integrate into major headliners in this year’s London Blockchain week. The event of this year is aimed at the completion of digital currency into diverse disciplines of the differentiating economies, including supply chain, finance, healthcare, legal 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.

The IOTA coin (MIOTA) is as at present valued at $3.59USD after its price went down by 3.5%. MOITA holds the 10th 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.


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Tags: IOTA utilizes IOTA blockchain IOTA foundation

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