Will IOTA Become the New Bitcoin?
Darcy Camargo recently introduced Tangle: the new technology around IOTA. The innovative tech is putting blockchain and other cryptocurrencies like Bitcoin at risk because of Tangle’s new system, Alpha.
Alpha is a walk system that works randomly, but its structure will dramatically reduce the risks surrounding future cryptocurrency transactions.
Less Risky Trades
The growing weight of tips is a long-term problem within cryptocurrency transactions. This is because it makes it harder to find an honest, confirmed transaction. However, the key is transience and recurrence, which are two probability aspects that can change the sphere.
According to Alon Gal, Alpha is likely to reduce, if not eliminate, the risk; due to Alpha’s architecture, the more approvers a tip has, the more likely Tangle will not abandon them.
On top of that, it will reduce the effort needed to get honest transactions approved, as the edge is the cumulative weight of the transactions.
Camargo states that due to Tangle’s system, a successful transaction would require at least two previous accepted transactions. For the majority of consumers, they benefit from having more time and effort put into their investment rather than worry about how reliable the tip is.
Camargo also discusses that because of how fast the process is, it is likely that some tips will be buried down a hole. However, he thoroughly explains how it is relatively easy for honest transactions to be efficiently approved as the key is to have more recent, up-to-date transactions- which is a step forward to promote ethical behavior around cryptocurrency and regulations.