What is IOTA?
7 years ago in #iota by cryptomadesimple (48)
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Cool explanation :) I just don't get the name... IOTA... BitCoin is so much better ;) tip!
It stands for Internet of Things and it refers to the idea that all devices can be present on the network and interconnected. It's a blockchain application that derives its benefit from a public immutable ledger.
Thanks for posting. Curious if you have an opinion on how this Tangle tech compares to what EOS is looking to do with parallel processing and increasing transaction rates?
Gonna be shooting an EOS video in a few weeks! Still learning about the differences but from what I see I really like it.
Yeah nice, I would like to see that for sure. Really good review. Keep it up!
Great, I've followed and look forward to it!
That would be awesome, I'll keep an eye out for that.
Would you be able to discuss the centralized vs decentralized aspects of EOS? I have heard some people are against the centralized approach, because it would seem to be going against the very thing that makes cryptos and blockchain so strong.
I have watched a couple of vids with Dan and he seems like a well intentioned guy, and the EOS tech sounds truly game changing for the crypto space.
I can't wait for the vid and to learn more, thanks!
Absolutely!
very nice
Thanks for the encouragement!
This is a great post - thanks!
I own some IOTA, will be buying more - not because I really understand the technology, but based purely on the potential for the Internet of Things.
Some questions I have - which maybe fairly naive, but coming from an incomplete understanding of how this will work..:
Cheers
Hey there!
So basically all coins existing have been created
That's right!
Iota to the Moon 🤗
Absolutely!
Hi @cryptomadesimple! @cardboard is sending you 0.15 SBD tip and @tipU upvote
:)
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Thanks!
This is an incredible concept. One day we may buy things on "credit" that is paid back automatically through machines that automatically generate their own revenue until it's paid off... then you could optionally keep it going to generate more credit or turn it off to enjoy your machine to yourself.
Whoa.
absolutely!
Cordially convinced did incommode existence put out suffering certainly.
I suspect they will be making some improvements soon :)
You really did make it simple, the best explantion ive seen so far!
Thanks!
Nice explonation. Thank you. But I have one question remained and did not find answer in this review. I noticed, that IOTA was may be the only coin, which did not lose, and even gained a bit during last BTC correction. Does anybody has any ideas on this?
Thanks for commenting! Since the tangle is a real alternative to the blockchain used by BTC, it doesn't surprise me that a bad day for BTC could be a good day for tangle. Its going to be interesting to watch how things play out!
Thank you for your nice explanation.
:)
You are most welcome. Thanks for commenting! Please consider sharing :)
Great vid, thanks for the explanation! Subbed :)
Thanks!