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IOTA — is the crypto-currency, which does not rely on the blockchain, but on a new structure called “Tangle.” The developers see the “Internet of Sachen” as one of the main fields of application of this technology. Tangle – is a new direct cyclic graph-based data structure that does not need miners or data blocks. Any member of the network who wants to perform a transaction must participate actively in a consensus network by approving two previous transactions.

This certification of the validity of the two previous transactions ensures that the entire network reaches agreement on the status of the approved transactions and permits a number of unique functions which IOTA alone has: high transaction capacity due to simultaneous numbers checks, no transaction fees, increased deconcentration compared to

History

IOTA will in future enable companies to introduce new b2b models, making every technological resource a potential service that will be offered in real time, free of charge, on the open market. A Tangle will be built for secure and authenticated channels of communication between devices. All physical resources linked to the network can in future be leased in real time: not only equipment and data storage capabilities, but also computer capacity and volume.

Tangle also opened new opportunities, including for electronic voting, for the secure transfer of data to eGovernance. Several companies are already carrying out this research.

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