Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => IOTA Forum => Topic started by: downswing4u on November 06, 2017, 06:27:25 AM
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The tangle is the technology used by IOTA instead of the blockchain. What do you think about it? and how do you see the tangle in our actual society?
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What is tangle tech, to a layman? Please don't tell me to ask Google. ::)
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What is tangle tech, to a layman? Please don't tell me to ask Google. ::)
Yes please Google lol ;D ::)
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I don't understand it, so it must be good.
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The tangle is the technology used by IOTA instead of the blockchain. What do you think about it? and how do you see the tangle in our actual society?
Lol google is a master of all
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Iota is the only (among the few) virtuall currency that does not use blockchain. It uses tangle technology which allows individuals to create and approve transactions
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These are some of the advantages of tangle technology used by IOTA and it's amazing
Microtransactions
Tangle makes microtransactions possible. Bitcoin is becoming increasingly expensive to make transactions with and if you are just making a small one, it can outweigh the benefits.
This is not an issue with Tangle as its system is highly adaptable and scalable so even the smallest transactions are cheap and quick.
Free Transactions
It allows vendors to charge for alternative services. If I was to pay 10 IOTA for a service, that would be worth pretty much nothing to me as a vendor.
If, however, 1000 people paid 10 IOTA for a service, that would be worth something.
With IOTA allowing microtransactions over the Tangle network, it means that services can be charged a minimal amount, meaning the customers pay almost zero and don’t have to pay excessive transaction fees.
With Tangle, vendors can charge for the actual worth of a product, instead of having to make the cost up elsewhere.
Bank Transfers
The Tangle network would also very much suit facilitating bank to bank transfers.