IOTA Tangle is based on a “Directed Acyclic Graph”, instead of the “Blockchain”. Tangle points out identity, mobility, supply chain, healthcare and many more application groups to explore on a scalable, zero fees based decentralized trust layer. This means seamless operations at zero cost.
The world usually concentrates on cryptocurrencies while the distributed ledger technologies are pushed to the back seat of development. As there are plenty and even more interesting aspects of it to be explored, build and integrated into real life and it is still a developing part of the crypto tech.
While the world is stuck on smaller deeds, IOTA launched “iampass” which is a new approach towards identity and access management on all levels. IOTA believes that every security system is only as strong as its weakest link. This pushed them to create a top-to-bottom system, combining the most secure and hygienic biometrics based on an individual’s unique palm-vein structure.
To be precise, it is a state of the art encryption method and Distributed Ledger Technologies, more specifically IOTA, Tangle “Blockchain 2.0” version.
Identity is what describes a person and it is the fundamental key to access any physical, analog or digital system everywhere in the world today. In this era of hacking, everything digital has the slightest possibility of being hacked. IOTA, at this point, has turned the game in the crypto world.
IOTA, on their news blog post, said:
“We are NOT creating a new app, plastic card, password or any other gadget. Instead we are enabling you to become your own pass, by simply using your hand, so you can truly say: I am pass!”
They also added an image for a better explanation of “iampass”
At the time of writing, IOTA is ranked #10 on the CoinMarketCap with a market cap of $4.1 billion and is trading at a price of $1.50 to a token. It has seen a fall of 5.25% in the past 24 hours.
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