ETC and IOTA: Who will be the overlord in the field of Internet of Things?

In November, IOTA's market value soared more than 8 times, and it jumped into the top four of the digital currency rankings, successfully defeating the old digital currency Ripple. IOTA mainly serves the Internet of Things, and the hype point is also the Internet of Things. The Internet of Things has also been a hot concept in the past two years, so the surge in IOTA's price is also reasonable. However, as an old digital currency, ETC has also begun to test the waters in the field of the Internet of Things, taking the Internet of Things as a breakthrough. So, as the two giants in the field of the Internet of Things, who can stand out in the future competition? Let's make a simple comparison below.

ETC is the built-in encrypted digital currency of the Ethereum original chain, and the system has been running stably for a long time. Its core development team is composed of technical experts with rich experience in blockchain development. The decision-making and implementation of its technical solutions are democratic and scientific. The technology used by IOTA is similar to the Raiden Network and the Lightning Network. The Lightning Network technology itself is a relatively avant-garde technology. The Bitcoin core development team first proposed the use of Lightning Network technology to solve the problem of Bitcoin expansion, but it has only remained in the theoretical stage and has not been implemented. The community also generally believes that this technology lacks practical testing and needs to be tested in terms of stability.

The cryptographic theories and principles used by ETC have been widely used in other IT fields before, and have been verified and optimized. It is a mature, safe, reliable and efficient information technology. IOTA uses a balanced ternary formula (a numerical system represented by three digits) on binary hardware devices, which makes the system design too complicated, resulting in reduced computing efficiency. Another serious problem with this design is that the cryptographic hash algorithm must be redesigned, which poses a serious security risk. Simply put, this technology is still in the theoretical stage, too avant-garde, and has no practical application value.

The issuance of ETC is completely decentralized, the price of the currency is not easy to be manipulated, and a new monetary policy is about to be implemented, which will institutionally guarantee the upper limit of the issuance of ETC, making it a tight digital currency, thereby ensuring its value storage attribute. IOTA is an ICO project in 2014, and it has always been neither hot nor cold. A large number of IOTA tokens are in the hands of a few people, and the price is easy to manipulate, which is one of the reasons why the price has increased 8 times in less than a month. This trend of centralization is very detrimental to the long-term development of the community . IOTA does not require mining, there is no transaction fee, each participant provides computing power for the network, and lacks corresponding incentives, which is extremely detrimental to the stability of the IOTA network.

IOTA uses Tangle technology, which is not a real blockchain. It is only used to solve the blockchain expansion problem. Blockchain is just a cover for IOTA. Therefore, IOTA can be used in the Internet of Things as a technology, but it cannot be used as a digital currency.

Compared with IOTA's blind pursuit of new technologies, new concepts, and new theories, ETC takes every step steadily, one step at a time, and is more keen on mature and stable technologies, and continues to innovate under the premise of safety and stability. The Internet of Things is also one of the largest application scenarios of ETC. The ETC development team has begun to develop an IoT-friendly virtual machine to make it universal, independent, and efficient.

In addition, in order to better use IoT applications, the ETC community has reached a consensus and formulated a development plan for cross-chain operation functions. In response to the ever-increasing transaction data in the IoT field, sharding technology and side chain technology have been designed to ensure security while improving efficiency. The goal of the ETCDEV team is to make the ETC blockchain a stable and easy-to-use technology. It would rather slow down the development progress than make some aggressive experiments to prevent irreparable errors in the future that will cause user losses.

In short, ETC is more like a stable and easy-to-use technology, while IOTA is more like an aggressive experiment. The most important thing for large-scale application of technology is stability and ease of use rather than blindly pursuing new concepts and technologies. Therefore, ETC has a universality that IOTA cannot match, and has stronger application support capabilities in the field of the Internet of Things.