Can IOTA’S blockless blockchain become the IoT standard?
IOTA is a platform to watch and probably just the pioneering leader of blockless blockchain technology.
IOTA’s blockless blockchain was designed specifically to handle machine-to-machine micro-payments. Will it become the IoT’s distributed ledger of choice?
Just when you think it’s safe to start casually dropping the word “blockchain” at social gatherings (on the assumption that you know more about it than most people), you discover that odd eccentric neighbor who counters with “Well, yes, blockchain is good. But what about Tangle?”
Tangle? Ethereum, Ripple, Hyperledger, Quorum—you know all those digital ledger platforms. But, Tangle?
Tangle, a little research reveals, is the data structure behind a new and novel micro-transaction cryptotoken optimized for the Internet-of-Things (IoT) called, appropriately enough, “IOTA.’ Unlike more complex and heavy blockchains like those used by Bitcoin, IOTA creators– David Sønstebø, Sergey Ivancheglo, Serguei Popov and Dominik Schiener–realized that in order to scale to the size of the Internet-of-Things ecosystem with tens of billions of devices connected to each other, they needed an infrastructure that was very lightweight and efficient, while still retaining the core principle ideas of the distributed consensus blockchain.