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What is the difference between IOTA and Bitcoin?

What is the difference between IOTA and Bitcoin?


Bitcoin was founded by Satoshi Nakamoto. Bitcoin was released on the 3rd of January 2009.

IOTA was founded by David Sonstebo, Sergey Ivancheglo, Dominik Schiener and Dr. Serguei Popov. It was released on the 11th of June 2016.


Bitcoin is a cryptocurrency and a worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or a single administrator.

IOTA is an open source distributed ledger focused on providing secure communications and famous between machines on the Internet of Things.


HASH Agorithm:
Bitcoin: It uses SAH - 2 (secure hash algorithm-2). It is a set of cryptographic HASH functions designed by the United States National Security Agency (NSA).

IOTA: It uses SAH -3 (secure hash algorithm-3). It is the latest member of a secure HASH algorithm family of standards released by NIST.



Blockchain:
Bitcoin uses a Proof-of-Work.

IOTA uses DAG (Directed Acyclic Graph).


Bitcoin is the first decentralized ledger currency. It is also the cryptocurrency with the most famous, popular, notable and highest market capitalization.

IOTA is the first cryptocurrency using the tangle, and next generation blockchain, as distributed ledger technology.



For more information, visit cryptoversal.com.

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