Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => IOTA Forum => Topic started by: Crestie C. Tuvilla on May 24, 2018, 02:46:24 PM
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Since you contribute computing power to the network when you submit a transaction, the cost of using the network is only as great as the electricity needed to verify two other transactions on IOTA. The Tangle allows IOTA to operate fee-free, and it means the network is even more distributed than a blockchain network. With blockchain, the network is distributed among the miners on the blockchain. With the Tangle, the network is distributed among every participating node on the network.
The absence of fees is critical to IOTA’s mission of servicing IoT devices. These devices will often be transacting at fractions of a penny with high frequency. Any fees charged on such small transactions would make micropayments unfeasible. In order to serve as the backbone for the M2M economy, IOTA has to be free to use.