Deep Dive into IOTA (MIOTA)

Everything you need to know about the cryptocurrency IOTA, a public distributed ledger that enables feeless payments for the Internet of Things.

Learn more: https://crushcrypto.com/iota-cryptocurrency-deep-dive

Project website: https://www.iota.org

White paper: http://iotatoken.com/IOTA_Whitepaper.pdf

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Download the PDF version of the presentation: https://crushcrypto.com/wp-content/uploads/2018/09/Crush-Crypto-Deep-Dive-IOTA-MIOTA.pdf

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Note: This is not a paid review. We do not offer promotional or advertising services. Our content is based on our own research, analysis and personal opinion.
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What is IOTA?

IOTA is a public distributed ledger that utilizes an invention called the Tangle at its core. The tangle is a new type of distributed ledger based on a DAG. The IOTA protocol aims to enable this machine economy by enabling feeless machine-to-machine payments and provide a scaling solution for the upcoming growth of the IoT.
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Token Economics

IOTA is the native token of the IOTA protocol and has a fixed supply. Sending IOTA will never require a transaction fee, and the token is designed for use as a payment network between machines on the Internet of Things. The Tangle provides the means for IOTA to act as a better micro-payment currency than blockchain based assets such as Bitcoin.
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Strengths

– The Tangle is an innovative new technology that allows for global feeless payments, meaning IOTA is well-equipped for micropayments and machine-to-machine value transfers on the IoT.
– IOTA has no inflation and will have a fixed supply forever. This is beneficial for long term token holders from a token value perspective.
– The IOTA protocol is designed such that scalability increases as more transactions occur on the network.
– The biggest partnership IOTA has is with Volkswagen. This is a validation to IOTA’s technology.
– IOTA’s crowdsale raised a reasonable amount of money at $500,000. They did not have large pre-sale bonuses and did not allocate any tokens for the team. The crowdsale was performed in a fair manner that incentivized community building over profit.
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Weaknesses

– Unlike blockchain-based systems such as Bitcoin and Ethereum, the difficulty of proof of work is not adaptive on the IOTA network.
– IOTA co-founder Ivancheglo claimed that a flaw in their curl hash function was deliberate and designed a “copy protection” to prevent projects from copying them. This was a hostile act towards the open-source community, and implied that IOTA was not willing to make their real codebase freely available for the advancement of the technology.
– IOTA’s goal to serve as a machine-to-machine payment network means that there will be a high velocity of money on the network. This could hurt the value of IOTA as a long-term investment because the currency will act less as a store of value.
– Leaked transcripts from August 2018 uncovered an internal fallout which may highlight the potential for future issues within the IOTA Foundation.
– Side Tangles, also known as parasite chains, have previously impacted the confirmation rate of IOTA transactions. These parasite chains are the result of a spammer using modified software to select tips that only reference themselves, and have brought the IOTA confirmation rate as low as 6%.
– The protocol uses a numeral system called balanced ternary. IOTA is built to run on existing hardware and communication networks, which all use the binary system.
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Disclaimer

The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don’t invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.

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Kane Dane