IOTA

What is IOTA?

The IOTA Foundation, the nonprofit organization behind the ledger, has signed deals with big names like Bosch and Volkswagen to expand the platform's use among linked devices.

How does IOTA work?

IOTA has proposed a new data structure called "Tangle" for storing and managing numeric representations. By removing the topographical difficulties of using a blockchain, it allows IOTA to overcome Bitcoin's scaling problem. The coins, like XRP, are pre-mined, and transactions are verified using Tangle, a Decentralized Acyclic Graph (DAG). It's a network of non-sequential nodes that allows each node to be connected to numerous other nodes in a 'tangle.'

How does the IOTA tangle work?

Other blockchains are DAG as well, although they don't have the same parallel architecture as DAG. It implies that transactions can be handled in parallel on the IOTA network. They are not required to follow a certain order in which transactions are queued. Tangle's network grows more efficient and secure as more nodes join it. Because each new transaction can be validated by referring to the previous two purchases, the system does not require full node miners. This not only speeds up transaction processing, but it also reduces the amount of resources needed.

Finally, to verify the transaction, there is a simple Proof of Work (PoW) quiz or puzzle. This transaction validation mechanism generates no charges or fees and uses less energy. It also implies that MIOTA, the digital money, may be utilized across a wide range of systems and devices without consuming a lot of energy.

Website

Visit the official cryptocurrency website. It contains detailed valuable information about the coin and the project. You'll also find answers to frequently asked questions, various support and training tools, or interesting coin news and articles.

WhitePaper

WhitePaper is a basic informative document that contains a detailed description of a crypto project, its purpose, the idea of its creation, technical specifications, statistics, diagrams, roadmap, and other important facts, including information about the coin and its use and future potential. It is usually created by the founders or developers of a crypto project.