Iota is one of the leading crypto currency at the moment with 9th place in standing of cinmarket cap ranking. Iota has a market cap $5,932,240,302 and trade for 2.13$ for one crypto coin.
Most crypto currency projects are developed by blockchain thenolgoy, but here in Iota, there is no blocks and chains. Iota is cryptocurrency project based on a distributed ledger, without blockchain and used structure that calls the Tangle.
On a traditional crypto, like Bitcoin for example, the consensus is made by block minning. Here we dont has minning and when user want to make a transaction, he must verify two previous transaction. With this process, the speed of each transaction is faster and eliminates the need for transaction fees.
What is Tangle?
Tangle is a data structure, that’s called Directed Acyclic Graph (DAG). Each transaction must be aprroved by 2 transactions and lets place an example to be more clear for readers:
- transaction 1 , approved by 2 and 3
- transcation 2, approved by 3 and 4
- transaction 3, approved by 4 and 5 and etc.
With Tangle structure network will be more faster and more transactions can be verified, without time and resource-intensive and difficulties.
Tangle means that the recipient will receive just as much, no one will be charged for it, no need to pay a third party for that and the best thing is that the more transactions you have, the faster the remaining pending transactions are verified.