IOTA on Finality Further on with Feeless Microtransactions, Digital Identities, and MANA

  • IOTA on Finality in just seconds
  • Feeless Microtransactions, Digital Identities, Data Markets, DeFi, NFTs, and Smart Contracts
  • MANA remains separate from the IOTA token

IOTA offers unique solutions for data and value transactions, with no fees, no mining, and Finality in just seconds.

IOTA calls for a survey in the community about the IOTA use cases they envision for their personal future

Feeless Microtransactions? Micropayments can enable new business models, which make it possible to have transactions worth fractions of a cent. Feeless micropayments are yet another need in consumer subscription models to improve the range of plans with short subscription times. Also suitable for selling self-generated data.

Digital Identities? Digital identities can make it easier to prove who you are with confidence without the need for a physical identity card.

Data Markets? Selling data for money.

DeFi, NFTs, and Smart Contracts: Combining innovative contract protocols with NFTs and Defi opens up a whole new world of revenue generation.

TCAT opinion:  For all practical reasons, Data Markets – because Data is the lifeline of everything.

What is Finality? Finality refers to the assurance or guarantees that cryptocurrency transactions cannot be altered, reversed, or canceled after they are completed. It is also the amount of time where one had to wait for an appropriate guarantee to establish the reasonable guarantee that the transaction on the blockchain will not be reversed.

Finality is essential for ventures, merchants, and businesses accepting cryptocurrencies because it makes no sense to be waiting endlessly on a blockchain with high and adverse effects from the business point of view.

MANA is the tool used in different roles in the network.  MANA remains separate from the IOTA token. What is the use of MANA? Anytime a value transaction is processed, a quantity called MANA gets “pledged” to a particular node ID. This quantity is related to the amount of IOTA that gets moved into the transaction. The MANA pledged to every node ID will get stored as an extension of the ledger.

Dominik Schiener expresses:  “Make sure to educate yourself on this topic. Reading “The Future we Choose” is a great start.”

While Dominik made this statement with reference to climate change, this appears so true about MANA too.

While the world is not facing issues relating to climate change:  In The Future We Choose, Christiana Figueres and Tom Rivett-Carnac—who led negotiations for the United Nations during the historic Paris Agreement of 2015—have written a cautionary but optimistic book about the world’s changing climate and the fate of humanity.

They have covered for life on Earth by 2050, arguing about the consequences of failing to meet the Paris Agreement’s climate targets, pointing to a regenerative world that has net-zero emissions. Also, confronting what governments, corporations, and each of us can, and must, do to fend off disaster.

Back to IOTA:  They continue with developments through final checks complete getting projects ready for launch.