What is IOTA (MIOTA) Coin
IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains — and an ideal footprint for the ever-expanding Internet of Things ecosystem.
Because there’s no blockchain, there are no miners, and because there are no miners, there are no fees. Many established networks see costs balloon when congestion intensifies, but IOTA aims to provide limitless throughput at minimal expense.
In time, IOTA’s goal is to become the de facto platform for executing transactions between IoT devices. Given how estimates suggest there could be 20.4 billion such devices out there by 2024, this could end up being big business.
The team behind IOTA believe that the potential use cases don’t end here. They believe their distributed ledger could deliver digital identities to all, result in car insurance policies that are based on actual usage, pave the way for cutting-edge smart cities, deliver seamless global trade and prove the authenticity of products.
Originally known as Jinn, a crowdsale for the project was held in September 2014, and the network officially launched in 2016.
- IOTA is a permissionless distributed ledger “for a new economy”. IOTA was conceptualized in 2015 and officially released in June 2017.
- It targets the Internet of Things, through the use of an open-source distributed ledger. IOTA aims at supporting the growth of a machine economy by enabling “fee-less machine-to-machine payments”, offering greater scalability than blockchain networks.
- IOTA relies on the Tangle, which is a Directed Acyclic Graph (DAG). Unlike blockchains, DAGs do not rely on blocks, miners, nor a concept of a chain. Instead, a DAG is a network of transactions that are linked to each other in a tree-shape network.
- According to the team, core features include: improved scalability (network activity is negatively correlated with settlement times), low resource requirements, zero-fee transactions, secure data transfers (through encryption), the addition of offline transactions, and quantum immunity.
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How Much is a IOTA (MIOTA) Coin
IOTA (MIOTA) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
IOTA (MIOTA) Coin Review
You can learn more about IOTA (MIOTA) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website https://www.iota.org/ Github https://github.com/iotaledger Documentation https://docs.iota.org/ Telegram https://telegram.me/iotatangle Discord https://discord.iota.org/ Youtube https://www.youtube.com/c/iotafoundation