Hey Bitcoin, Blockchain… There’s a new Sheriff in Town.

Not quite 25 months ago, on November 24, 2015, an exciting, revolutionary, new next generation public distributed ledger known as “Internet of Things Application” or IOTA for short was born.

A German nonprofit, “The IOTA Foundation” overseas the IOTA virtual currency.

This Block-less, Chainless application requires no miners.

A new data structure based on “Directed Acrylic Graph” or DAG had a radical new architecture.

Not relying on Blockchain… IOTA, at its core, utilized a cutting-edge organizational platform known as “Tangle”.

But, before we get too bogged down in the IT, Tech or inner workings of “IOTA” and the vast differences that it has with Cryptocurrency’s poster child Bitcoin, and its operational platform of Blockchain, let’s take a giant step forward and look at the alt-coin itself.

Why it is such a unique, original and powerfully dynamic force to be reckoned with.

With an ROI of 943,969% since November 2015 ICO …comparatively Bitcoin/BTC has achieved an ROI 4,970% in that same period of time. (at time of this writing).

As of this writing IOTA’s (or MIOTA as it is reported to traders and investors)

● Daily ROI was 1259%,

● Weekly ROI of 8810%

and

● Monthly 37,759%.

Reaching a new high of just over $5.50 a token on December 6th IOTA, a reputed 3rd generation Cryptocurrency, bounces back and forth between 4th and 5th Cryptocurrency by capitalization.

But, what makes IOTA and Tangle so powerful, extreme and different?

Typical traits of Blockchain include;

● Mining of coins or tokens

● Fees to achieve transactions

● Blocks in the chain much like bricks in the wall

Meanwhile, characteristics of IOTA’s “Tangle” include;

● No Miners

● No fees…FREE transactions

● No Blocks … a block- less distributed ledger.

For starters its launch of a decentralized data marketplace.

This involves data monetization and the processing of micro transactions.

This is the main reason its supporters and investors are so very optimistic.

Businesses will be able to sell data in an effort to create incentives for the sharing of data which otherwise would be wasted.

The data marketplace project has the support and backing of the likes of giants Volkswagen, Cisco, Bosch, Fujitsu, Deutsche Telecom, Accenture, Price Waterhouse and others.

IOTA has announced actual working relationships with many of these players and others.

You see “The Internet of Things” or IOT already is a major force in the planet Earth’s global economy.

8.4 Billion devices in 2017 and the growth of sensors, cameras, devices monitoring conditions in shipping, farming, retail stores, homes, freight, factories and even drones…will continue to grow exponentially.

With a vision of being the main if not sole platform for “Machine-to-machine” or M2M transactions IOTAs founders believe they have captured the means for IOT devices to both share and allocate resources efficiently.

In doing so M2M payments will allow the purchase of more electricity, bandwidth, storage or data when its needed and sell these surplus resources efficiently when they’re not required.

Iota technology allows machines connected to the IOT to communicate with each other machine and make payments.

Machines interacting with one another as peers.

A peer to peer network of machines rather than people.

And IOTA is VERY fast.

● Bitcoin processes 3 to 5 transactions per second

● Ethereum 20 transactions per second

● PayPal 200 transactions per second

● VISA, the gold standard for speed processes 2,000 transactions per second

● IOTA, a second to VISA, processes 1,000 transactions per second

While Blockchain networks struggle with scalability and must charge fees in order for miners to include a transaction in a block sooner IOTA solves the scalability and fee issue with “Tangle” so its new network can accommodate billions of IOT devices.

With IOTA planning to utilize literally billions of transacting nodes once fully engaged and operational they designed a network where the processing power grows while network nodes grow.

With Tangle the device submitting a new transaction must first verify two other separate transactions on the network. For each verification the verifier must perform a small proof of work thus linking the transactions into the larger Tangle network much like a block in the Blockchain.

Consensus is then reached based on an overall web of verifications. Each new transaction being linked to the two transactions it verified and ultimately linking to future transactions. This totally solve any scalability issues as no longer does the network rely on a central blockchain.

Additionally, every new device added to the network contributes to its total computing power when it submits a new transaction. This negates block mining eliminating the need for minors as all of the IOTA coins were created upon the network’s genesis.

IOTA is FREE to USE.

When a transaction is submitted computing power is being contributed.

The cost of using the network is only the small amount of electricity being used to verify the additional two transactions on IOTA.

Tangle therefore allows IOTA to be fee-free operational. This makes the Tangle network even more distributed than blockchain. With Miners taking the distribution of the Blockchain network whereas the Tangle network is totally distributed among all participating nodes.

IOTAs network is “Block-less”

Using an open source process IOTA’s “Tangle” network uses a digital ledger to stay block less.

IOTA truly outperforms Bitcoin and Blockchain in SPEED, SCALABILITY, NO FEES and NO BLOCKS.

Proving there truly is a new and potentially more efficient and less costly Sheriff in town.