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REVIEW

March 14, 2018 | 

Joanna Newman |  0 Comments on the review

REVIEW - IOTA

What is IOTA?

IOTA coin is one of the fastest growing cryptocurrencies. It has been especially designed for the Internet of Things (IoT). Looking at the shortcomings of other popular cryptocurrencies such as Bitcoin and Ethereum, a few developers joined hands to develop a new cryptocurrency from scratch that can facilitate transactions between always communicating digital devices.

In their bid to overcome the problems of a traditional blockchain, they discarded the idea altogether and wrote a new codebase in Java programming language.

https://www.youtube.com/watch?v=ivWqqfzunhI

IOTA Founders

Four highly talented people coming from diverse professional backgrounds are credited for being the founders of IOTA. They include:

David Sønstebø is a technology buff who believes Smart Cities laden with interconnected technologies are the future and cryptocurrency is going to play a big role. With an aim to overcome the drawbacks of Bitcoin, he laid the foundation for this currency.

Dominik Schiener is an extremely young fellow involved in multiple ventures that are all related to cryptocurrency space. His aim with IOTA is to create cheaper, quicker and safer payment system.

Sergey Ivancheglo founded Jinn and IOTA token, he also fulfills the responsibilities of CEO for both ventures. He firmly believes in the future of cryptocurrencies and backed Bitcoin right from the start.

Serguei Popov, a P...