IOTA MIOTA to BitcoinHD BHD Exchange

Crypto Pair Details: MIOTA to BHD

IOTA MIOTA

IOTA is a distributed ledger for the Internet of Things. The first ledger with microtransactions without fees as well as secure data transfer. Quantum proof. IOTA is a ground breaking new open-source distributed ledger that does not use a blockchain. Its innovative new quantum-proof protocol, known as the Tangle, gives rise to unique new features like zero fees, infinite scalability, fast transactions, secure data transfer and many others. IOTA is initially focused on serving as the backbone of the Internet-of-Things (IoT). IOTA is a cryptocurrency that has no transaction fees and requires no miners in order to process transactions. It does, however, require some computational power to submit a transaction, making it perfect for machines to use as a currency and distributed communication protocol for the Internet of Things “IoT”. The main purpose of IOTA is to solve some of the major problems with Blockchain technology, the main one being that the bigger the Blockchain (such as Bitcoin), the slower, more expensive, and also more restricting it is to actually transfer funds. Another issue with the Blockchain is size, as more and more Blocks are added, the longer the Blockchain gets, and therefore the less amount of computers are able to mine it. Right now BTC is over 150GB long, and so is ETH. If this size increased tenfold, very few computers would be able to mine it at all. Making them relatively centralized (the top 2 Bitcoin mining pools own about 56% of hashing power).

BitcoinHD BHD

Users can employ unused hard disk capacity to mine Bitcoins without the need for expensive mining rigs and other specialized hardware. Traditional mining hardware is energy intensive, noisy, produces a lot of heat, and is becoming increasingly specialized, moving beyond the means of ordinary people. With BHD, mining is simple and accessible. POW-based mining is all about raw computing power and energy output, whereas BHD's POC-based mining is far more energy efficient and returns to Satoshi Nakamoto’s original ideal that mining would be decentralized and performed by ordinary people. POC (Proof of Capacity) scans are only performed once every few minutes. For the rest of the time the hard disk is on stand-by with negligible power usage, greatly reducing energy costs. Based on capacity proof, it will support super-large blocks in the future and will add functions such as zero-knowledge proof. Solid-state drives are expensive, POC has no requirement for fast data processing, only capacity, so POC naturally eliminates ASIC chips. Currently, the amount of energy expended globally in POW mining is greater than the total energy output of 159 countries. The development of digital currencies shouldn’t have to be built on the wasting of resources. With BHD, POW calculations can be completed with a minimum of computing and energy resources.

SOURCE: COINGECKO

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