Holding IOTA
Anonymous (ID: mMA3ri/F) 07/17/17(Mon)07:30:04 No.2805327
Plebbit user summed up pretty nicely why I am holding some IOTA:
I have been posting about IOTA since its market cap was 30 million. I have not sold a single iota yet, and I will explain why.
First of all the technology is the first true leap in fundamental distributed ledger architecture since Bitcoin itself.
Sure there has been a lot of different experimentation and adjustments to the blockchain, but fundamentally all of them are still a blockchain, IOTA is not. IOTA resolved the scaling problems, the fee issue and the centralization issue, literally the top 3 concerns of blockchain that has kept it out of real world use forever. Even just solving one of them would be revolutionary, as is evident by hundreds of projects proclaiming to do just that, they solved all 3! It's hard to overstate, in fact almost hard to believe, until you look at the code and play with the protocol.
Secondly is the team, the entire core team of IOTA consist of blockchain veteran seminal thinkers who pioneered everything from full Proof of Stake to 2.0 functionality like Asset Management, Voting etc. as well as first movers in the field of combining distributed ledger tech with Identity, Internet of Things, Voting, Supply Chain before pretty much anyone else. They have consistently shown that they are years ahead of everyone in terms of vision and creating technology that enables the vision.
Thirdly look at the community and ecosystem. There is already 10s of thousands of people, their Slack alone got almost 7000 people and it is growing by hundreds each day. There is a 10 million dollar ecosystem fund for everyone to build projects on the platform. Finally they got real world companies involved, only Ethereum can rival them here. They are working with Microsoft, Bosch, Innogy, Ubuntu, Cisco, Thomson Reuters etc. before they even launched. Should you invest? Well, if you can show me anything that can beat this I will pay you 100 000 dollars of my own money just to be part of it.
Not only are these points the answers for why every blockchain WILL NOT work on a global and micro/nano scale, but there is more.
ReplyDeleteLightweight: The ability to participate in the network requires minimal computing power, can be done on a smart phone, or a really small microchip. Eventually ternary processors will maximize these capabilites. It can literally transact on a microchip in a tiny sensor. These will be known as the light nodes. However, light nodes will need to "report" to a full node to verify the transactions. The full node can be run offline and, for example, will be run by a company wanting to utilize the IOTA tangle ledger in their business model (and many businesses will utilize this tech, ex) Microsoft, Cisco, Bosch, Innogy are all implementing as we speak, and as of 5 hours ago, SatoshiPay is switching from Bitcoin blockchain to IOTA). Think of this metaphor, if I dont want to use a portapotty to go to the bathroom, I should consider installing plumbing. If i want plumbing, I gotta buy the pipes and pay for water to run in my house. IOTA = Plumbing, Full Node = Pipes/Water. Entirely new business models and apps will be able to run using IOTAs tech, and it will literally change the world as we know it.