Price Info: - https://www.coinmarketcap/currencies/iota
Iota is a crypto-asset for the Internet of things industry. The main feature of this is the Tangle, a directed acyclic graph (DAG) for storing transactions, leading to a decentralized and self-regulating peer-to-peer network.
IOTA was created by David Sonstesbo. The Iota Foundation also consists of Dominik Schiener, Serguei Popov, Sergey Ivancheglo, Gianluigi Popov and Per Lind. The Foundation is the central body of Iota; however the community is heavily involved in the efforts of the project.
What sets Iota apart from other cryptos is that the devs are writing their own unique hash-functions (a type of code). This is considered risky, as proofs and testing are difficult. Security flaws around hash functions can cause major problems. On the upside - they have more freedom to create next-gen tech. Like marmite, the public is split on Iota.
The creation of unique code in Iota underlines that the team aren’t as far in the development process as some other coins. But equally, this means there’s a lot of potential for creativity in how they explore their future. A strong vision is worth the risk.
Imagine having machines paying each other for services, having your machine data secured by the tangle, or getting a ride in a self-driving car that is paid in Iota. This is the future Iota is proposing.
UCL Dumps IOTA
The blockchain research center at UCL (University College London) has announced it cut all its ties with the IOTA Foundation, the group behind the 11th most valuable cryptocurrency in the world by market cap (MIOTA). The rational for the move was the IOTA team’s repeated threats against critics that reviewed its technology. The Financial Times covered the topic last week, and the bad press must have proven too much for UCL.
The academic institution’s website now reads: “UCL Centre for Blockchain Technologies is no longer associated with the IOTA Foundation. In relation to recent news report, we reaffirm our support for open security research, as a prerequisite for understanding the assurances provided by any blockchain technology. It is inappropriate for security researchers to be subject to threats of legal action for disclosing their results.”
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