The full article was originally published by Luka Stanisic on Medium. Read the full article here.
I’ll try and explain my view why I chose IOTA over all other projects in this space.
I’m by no means claiming that I’m an expert or that you should follow me blindly.
I think it may be helpful to get to know me a little bit better so you can understand my views.
I’m a software engineer and for my entire life I’ve always been into finance. Crypto was the perfect blend for me to combine the two passions.
As most of you, I started with Bitcoin, next was Ethereum and then I dipped my toes in a few other projects with one of them being IOTA.
At the beginning I didn’t really know what I was buying. I was attracted by the philosophy of being your own bank, having something that no one can take away from you, regardless how powerful they were.
As long as I kept my private key safe, I was the only one who could access my funds. There was no Government telling me what I can or can not do with the Bitcoin I possessed. From an economical point of view I was amazed that there could exist a distributed system where boarders didn’t exist, everyone was threated equal and had the same opportunity regardless if they we’re born in a prosperous nation or a developing country. Everyone was free to join and all the participants agreed to follow the same rules. Ethereum quickly followed and introduced smart contracts, which where game changing. You didn’t have to trust anyone. You trusted the network and knew that the network would always follow the code by which it was programed. Participants agreed upfront what the rules are and what are the outcomes when specific conditions are met. If someone didn’t like it, there was nothing they could do, because the network would automatically execute the contract which the parties agreed upfront. No central authority was needed to solve the dispute and if they wanted to, they couldn’t do it.
Bitcoin, Ethereum and most crypto projects share this trait even IOTA, but there was one key differentiator for me.