Over a million developers have joined DZone.
{{announcement.body}}
{{announcement.title}}

Top 5 Technological Advantages Of IOTA For Industries

DZone's Guide to

Top 5 Technological Advantages Of IOTA For Industries

Check out this post on the IOTA and the top five technological advantages of using IOTA in industry. Click here to read more!

· Security Zone ·
Free Resource

Discover how to provide active runtime protection for your web applications from known and unknown vulnerabilities including Remote Code Execution Attacks.

IOTA is one of the revolutionary, next-generation public shared ledgers that incorporates the utilization of an innovative technology called “Tangle” at its core. Based on a Directed Acyclic Graph, the Tangle is a new data structure. Thus, it has no blocks, no miners, and no Chain. Due to its critical data structure, processes in IOTA take place quite differently and efficiently when compared to other Blockchains.

With blockchain technology around the corner, it’s about crypto-innovation. IOTA offers users with a unique digital framework.

What Is Tangle?

IOTA’s most prominent market driver is its native technological offering, Tangle. Unlike a blockchain, it maps transactions onto an entire network contrary to a single data-chain.

Tangle’s a type of mapping that offers help to increase the implementation capabilities along with expanding the scope of application for IOTA.

Core Advantages of IOTA and Blockchain:

1. Reduced Transaction Fees

Mainly originated for Bitcoin, one of the concerning issues with the blockchain is its slow transaction times.

Currently, transfer rates for the blockchain are in double-digit range, which can be considered quite low for various modern applications.

However, IOTA utilizes a system wherein the rates of transaction increase exponentially as more customers start using its native platform. Also, by using a unique consensus protocol, it provides its users with reduced confirmation times.

2. Free Micro-Payments

In standard blockchain-based payment portals, usually, the sender/initiator of the transaction sets the transaction fees. As a result, it makes it increasingly unfeasible to execute smaller amounts of payment.

On the other hand, one of the prominent advantages of IOTA is its ability to enable smaller payments with the incurrence of very little to a fee-less transaction.

3. Scalability

From a technical point of view, experts believe that IOTA utilizes a processing module that’s capable of becoming faster as its number of transactions and subscribers increase.

Also, it’s worth mentioning that in an IOTA blockchain the time taken to execute a transaction and the process to validate it gets zeroed as soon as data gets identified.

4. Future-Ready

Customers using the blockchain face one central issue: the technology proves to be expensive in terms of its computational needs and security assurance.

For instance, implementing Bitcoin mining processes requires more and more computation power as time goes on.

However, IOTA proves to be a great alternative here. It reduces hefty cost requirements by eradicating key areas of the traditional mining.

5. Safety

In a nutshell, the owner of a blockchain contains the power to tweak the system with new data, therefore, having the power to modify it for personal gains.

Consequently, it gives rise to a tangible dilemma for organizations looking to incorporate the blockchain technology with externally auditable applications when maintaining the immutability of data required at all times.

Why Is IOTA the Best in Industrial Use Cases?

In addition to the above-mentioned technological advantages, IOTA goes beyond its deployment as a unique payment protocol. For instance, intricate business operations can utilize its Tangle technology to support their IoT use cases.

Similarly, by using MAM (Masked Authenticated Messaging), it can streamline the transfer of encrypted data along with maintaining a high-level of data protection, integrity, and data access management.

IOTA not only brings a platform to the forefront that has the capability to facilitate digital payments for trade and everyday transactions, but it also provides a technology that turns IoT communication into a reality.

Find out how Waratek’s award-winning application security platform can improve the security of your new and legacy applications and platforms with no false positives, code changes or slowing your application.

Topics:
blockchain ,blockchain technology ,iota ,security ,iot

Opinions expressed by DZone contributors are their own.

{{ parent.title || parent.header.title}}

{{ parent.tldr }}

{{ parent.urlSource.name }}