Whenever values are sent, this can also happen through IOTA.
This means it can also perform many of the functions of other cryptocurrencies through its capabilities. IOTA is a crypto project for the Internet of Things, for the machine economy, and for an actually unspecifiable number of applications wherever data or values are to be sent securely. This is obviously a big deal for this space and some companies already declared IOTA their ledger to build on, but later more. The Trilemma: a Blockchain can only have two edges of this triangle. Though it gained some momentum back when most of the drama went down, some controversial figures left the stage and they announced an official solution for one of the biggest if not the biggest problem in crypto, for all projects. Rooting for IOTA is many things, but not easy, until now. Here is why:Īnyone interested in IOTA's applications has had to spend the last few years on the roller coaster of emotions. You can look at it from all sides, IOTA is currently without competition. And I can't be the only developer who sees this. So in most cases, a centralized service is cheaper right now. In the data economy with real adoption, every project with fees runs into a ceiling sooner or later, only feeless is feasible. In the machine economy, we are talking about tens of thousands of companies globally and millions of sets per hour. The fee structure is transaction (tx) is a * size(tx) + b, where:-a/b are protocol parameters and -size(tx) is the transaction size in bytesEffectively a few cents right now. And that would be just one data set from one customer.Ĭardano is a bit trickier. Well, if you have a data table with 3000 individual entries to validate (like vaccine records that come in one after another), you would pay $17 each with ETH, for a total of $51,000 in fees. In my company, we rely on centralized services or our proprietary solutions because they can handle the work cost-efficiently and they have better usability. On paper, it sounds like the missing piece of the puzzle that can protect my data, through decentralization and data integrity, but practically, many supposed solutions are too complicated or too expensive for recurring data packages. Vechain seems to be more than promising and we definitely need more of those quality posts here so shoutout to /u/BrownViking99 really well done mate!Īs a data analyst, I have a very special relationship with crypto. I really enjoyed this VeChain post last week so I thought I will copy its style and format and fit in the IOTA information I have because I’d like to abide by the rules and that post obviously worked out great in that and other regards, though, this might be a bit longer. r/CryptoCurrencyMemes r/CryptoCurrency_Tech r/CryptoMarkets r/CryptoRecruiting r/Best_of_Crypto r/BitcoinMarkets r/BitcoinMining r/CryptoTrade r/Ethfinance r/EthTrader r/Jobs4Crypto r/Liberland r/NFT r/OpenBazaar r/GPUmining Mastering Ethereum (Open Source book) Exchanges IBM's ZeroToBlockchain (Free learning resources) See our Expanded Rules page for more detailsĬoinMarketCap (Cryptocurrency market cap info)ġ0k.pizza (Portfolio tracking.See our Expanded Rules page for more details about this rule.This includes "PM for referral", asking for referral codes or links, and linking to sites used solely for referral links.
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