IOTA

MIOTA
-6.7 % (24hr)

$ 0.2251710698

❝ IOTA is a decentralized platform which enables transactions between Internet of Thing devices ❞
Market Cap

$ 625.9M

Current Supply

$ 2.78B

Max Supply

$ 2.78B

24hr Volume

4.192M

Proof

POW

website

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IOTA is an acronym for Internet of things Application. At the heart of it IOTA is an open source distributed ledger  that is implemented differently from a typical blockchain. One of the key invention or innovation of IOTA is Tangle which is a consensus system in which partcipants verify each others transactions and is based on a Cryptographic concept called  Directed Acyclic Graph (DAG).

IOTA is vision is to revolutionize Machine to Machine payments where IOT devices can share and trade resources between themselves 

  

IOTA is fragmated into various trading units namely IOTA -single IOTA, Ki, KIOTA – One thousand IOTA, Mi, MIOTA – One million IOTA, Gi, GIOTA – One thousand MIOTA, Ti, TIOTA – One thousand GIOTA, Pi, PIOTA – One thousand TIOTA. So, use of any such unit implies the mention of IOTA. It uses the DAC (directed acyclic graph) technology in it.

Features of IOTA:

1. Tangle: The technology of Tangle is not based on the mining and the blocks rather it entails the data transfer from machine to machine directly without any external interference.

2. Zero cost Transactions 

3. Machine to machine payments
 


History and Founders of IOTA:
 David Sønstebø, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov are the founding members of IOTA launching it in the year 2015. The release date of IOTA is said to be 13 June, 2017

Key Data:

Total Supply: 2.78 Billion
Algorithm: DAG
Symbol: IOTA
 

How is IOTA different from the Bitcoin?

· IOTA operates with Tangle contrary to the mining mechanism followed in the Bitcoin.

· IOTA charges no transaction fee.

· The concept of peer to peer technology in Bitcoin is complemented as machine to machine sync feature in IOTA.

How to buy IOTA?
The IOTA crypto-currency is set to serve the purpose of a medium of exchange for utilising the services of IOTA network in later run. 

IOTA can currently be traded against the Bitcoin, Ethereum and other top notch altcoins. The easiest way to secure IOTA is to buy these coins and further exchange it for the IOTA from the exchanges listed below.

Best exchanges for IOTA?
IOTA is currently available from the exchanges like Binance and Bitfinex as it is a young crypto-currency.

Best IOTA wallets:
IOTA Wallet (Official Wallet)

Key Competitors of IOTA:

· STREAMR 

Key advantages of IOTA over other form of crypto currencies:

· IOTA charges no transaction fee.

· IOTA aims at utilising the unused potential of the technology based on the sharing mechanism within the existing smart devices.

Disadvantages of IOTA:

· The IOTA project is a vulnerable project due its unique structure and mechanism.

· IOTA is a much younger concept to predict anything with certainty about it.

Key Resources:

Twitter handle for IOTA: @iotatoken
Reddit handle for IOTA: r/IOTA