Finding top-tier crypto projects in the bear market can be very challenging
So today I have done all the hard work for you.
Here's everything you need to know about #Iota and why you SHOULDN'T miss out 🧵
#Iota $Iota @iota
So today I have done all the hard work for you.
Here's everything you need to know about #Iota and why you SHOULDN'T miss out 🧵
#Iota $Iota @iota
What I'll be covering:
• What is #IOTA
• The team behind
• How it works
• Iota's new decentralized plan
• Benefits of Iota
• Shimmer layer 1
• Closing Thoughts
• What is #IOTA
• The team behind
• How it works
• Iota's new decentralized plan
• Benefits of Iota
• Shimmer layer 1
• Closing Thoughts
1/
The brand new, completely decentralized #IOTA network is here:
The very best implementation of a feeless Distributed Ledger based on a DAG, It's able to host smart contracts, #Defi platforms, and second-layer applications.
This research will thoroughly test #Iota 2.0
The brand new, completely decentralized #IOTA network is here:
The very best implementation of a feeless Distributed Ledger based on a DAG, It's able to host smart contracts, #Defi platforms, and second-layer applications.
This research will thoroughly test #Iota 2.0
2/
The #IOTA Foundation team is distributed across 25+ countries but has one shared vision. The two main founders I found on Twitter are @navinram999 and Dominik Schiener.
The #IOTA Foundation team is distributed across 25+ countries but has one shared vision. The two main founders I found on Twitter are @navinram999 and Dominik Schiener.
3/ No Coordinator anymore, new message structure, new consensus mechanism. The brand-new #IOTA network is here to stay.
Why?
• Decentralized, secure & permissionless
• Finality within seconds
• Lightweight and modular
• Feeless transactions
Let me explain how it works ↓
Why?
• Decentralized, secure & permissionless
• Finality within seconds
• Lightweight and modular
• Feeless transactions
Let me explain how it works ↓
→ Decentralized, secure & permissionless
Based on a leaderless consensus protocol, IOTA 2.0 is the most decentralized distributed ledger protocol able to handle more than just payments.
Based on a leaderless consensus protocol, IOTA 2.0 is the most decentralized distributed ledger protocol able to handle more than just payments.
→ Finality within seconds
Transactions reach finality in seconds without having to wait for confirmations by centralized entities, regardless of the number of network participants.
Transactions reach finality in seconds without having to wait for confirmations by centralized entities, regardless of the number of network participants.
→ Lightweight and modular
Low-power devices do not have issues running a node as message creation and validation are not expensive operations.
#Iota 's modular approach enables countless extensions of the base protocol through additional modules.
Low-power devices do not have issues running a node as message creation and validation are not expensive operations.
#Iota 's modular approach enables countless extensions of the base protocol through additional modules.
→ Feeless transactions
IOTA 2.0 enables the secure transfer of data and value between humans and machines, opening up new business models based on micro-payments.
IOTA 2.0 enables the secure transfer of data and value between humans and machines, opening up new business models based on micro-payments.
4/ The IOTA 2.0 Development Network is focusing on:
💎 Feelessness: A user can issue a message without having to pay a fee to anyone.
💎 Security. An attacker cannot influence the network rules, double-spend tokens
💎 Decentralization.
💎 Feelessness: A user can issue a message without having to pay a fee to anyone.
💎 Security. An attacker cannot influence the network rules, double-spend tokens
💎 Decentralization.
5/ IOTA's Decentralized plan:
Data and transactions are contained in objects called messages.
Every message must reference two to eight other messages.
Thus the collection of all messages, called the Tangle, is an ever-growing DAG.
Data and transactions are contained in objects called messages.
Every message must reference two to eight other messages.
Thus the collection of all messages, called the Tangle, is an ever-growing DAG.
Currently, the Chrysalis network is governed by the coordinator, a centralized node run by the #IOTA Foundation.
The coordinator states which transactions and data are included in the ledger
To make these decisions, the IOTA 2.0 protocol works in a cycle ↓
The coordinator states which transactions and data are included in the ledger
To make these decisions, the IOTA 2.0 protocol works in a cycle ↓
6/
#Shimmer is the incentivized Layer 1 innovation network.
It's built to spark the growth of feeless and highly interoperable digital assets and token economies.
#Shimmer is the incentivized Layer 1 innovation network.
It's built to spark the growth of feeless and highly interoperable digital assets and token economies.
Just like IOTA, Shimmer is a DAG-based parallelized settlement layer with higher L2 anchoring capacity than standard blockchains.
#Shimmer is a validation ground for innovations geared toward the #IOTA network. Its native token is $SMR.
#Shimmer is a validation ground for innovations geared toward the #IOTA network. Its native token is $SMR.
Developers have an early mover advantage to build a new ecosystem on a feeless, bridgeless base.
Here's why #shimmer is a more improved version:
Here's why #shimmer is a more improved version:
Shimmer network seems to have some special features I really like.
A few include:
1️⃣ Native Token
2️⃣ Feeless NFTs
3️⃣ Output Types
4️⃣ Build Your Own
A few include:
1️⃣ Native Token
2️⃣ Feeless NFTs
3️⃣ Output Types
4️⃣ Build Your Own
My Closing thoughts:
I know there's alot more to cover , which I plan to cover in the future.
#Iota 2.0 is seems to be ready for adoption.
One major problem they seem to solve is gas fees, this may attract more devs. Looking forward it's product going live.
I know there's alot more to cover , which I plan to cover in the future.
#Iota 2.0 is seems to be ready for adoption.
One major problem they seem to solve is gas fees, this may attract more devs. Looking forward it's product going live.
Alright, that's it for #Iota $Iota
If you'd like to keep up to date with time-sensitive opportunities then follow @cyrilXBT
I'll be covering more on # Iota-related content.
Suggest topics you may want to hear more on 🤝
If you'd like to keep up to date with time-sensitive opportunities then follow @cyrilXBT
I'll be covering more on # Iota-related content.
Suggest topics you may want to hear more on 🤝
Let me know if you found this thread helpful. #Iota $Iota
What's your opinion on $Iota? What did I miss?
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