SatoshiPay ditches Bitcoin for IOTA — a "superior technology"

SatoshiPay, a startup founded in 2014, focused on processing nanopayment transactions usually in the form of bitcoins, announced that is replacing Bitcoin with a much more suitable distributed ledger technology.

IOTA is calling itself Next Generation Blockchain being based on a technology called IOTA Tangle. In short, when someone is making a transaction, he'll process also other transactions. In this way there're no transaction fees as being executed for free by its members in order to get their transactions processed. It makes possible to execute free micro transactions (nanopayments) and to create a communication layer for Internet Of Things (IOT). More details can be found on iota.org. Currently, IOTA coins are traded only on Bitfinex for now.

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