![]() Since IOTA doesn't have a blockchain, there are no miners. As more nodes are added to the network, the speed of validating transactions will only increase, and become more secure. This means that transactions are not bound by a queue, but can occur and be validated in any order. On IOTA's network, transactions can be processed simultaneously due to its non-sequential architecture. IOTA’s DAG mechanism works differently from that of other blockchains. Nodes are connected in one direction only, therefore any node cannot refer back to itself. Simply put, it functions as a network of non-sequential nodes which allow each node to be connected to several other nodes in sort of a 'tangle’. Tokens are pre-mined and transactions are validated using Tangle. Tangle provides a solution to Bitcoin's scalability issue by removing the topographical hurdles of using a blockchain. IOTA claims that Tangle is faster and more efficient than typical blockchains used in cryptocurrencies. Tangle is a DAG, Decentralized Acyclic Graph (DAG), and works with a system of nodes. IOTA uses a unique innovation, Tangle, for confirming transactions. ![]() ![]() What are IOATA’s key features and how does it work? Its native cryptocurrency is known as MIOTA. Serguei Popov, and Serge Ivancheglo in 2015, it has the overall aim to democratize and power the Internet of Things (IoT).Įssentially, it is designed to exchange data between machines and humans without any hindrance. Co-founded by David Sonstebo, Dominik Schiener, Dr. IOTA is a network that is specifically built for the next generation of a digital revolution, termed the Internet of Everything.
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