Japan: In a nutshell there is no mining, so you do not have to pay the miners’ groups for reward .

All Credits to Iota News By Nala | Original Post – https://www.instagram.com/p/BenGYO9l72x/?taken-by=iota.news

Traditional virtual currencies such as bit coins require enormous computing power to approve the block and commissions were paid to the transaction as a remuneration for the mining group that provides it.

However, since approval of Tangle network transactions can be done with IoT devices with low computing power, the group of miners who provide huge computing power is no longer necessary, no transaction fee is needed.

As a result, the cost of payment is only the amount of data exchanged, and you do not have to pay a cumbersome fee. For example, if you are a rent-a-car, it’s just like paying “running” cost.

This is a very important and innovative thing in IoT which frequently exchanges small data.

The biggest problem of the development of IoT was in the security of the network between IoT devices .

Until now, it was technically impossible to prevent data integrity between devices and data falsification on the network.

Therefore, Tangle adopts technology called the base of security of block chain technology called proof of work (PoW) at transaction approval .

This is to check whether the data is fraudulent or falsified by encryption calculation.

Since Tangle is built according to the principle that “When a new transaction arrives, it must approve two transactions before two “, so each transaction will approve two previous transactions.

In other words, because it is approved at high speed so that it can not be fraudulent or tampering, it is possible to construct a secure network that ensures consistency of data between IoT devices, and prevents fraud and tampering .

Currently, various IoT services such as home electronics and doors are spreading.

Although it is still a developing service, there are many companies that are working on development.

If the IoT service will penetrate in the future, or if the technology Tangle becomes more popular, nature and attention will be gathered to IOTA as well.

Source: coinpost. jp



Leave a Reply

Your email address will not be published. Required fields are marked *