Jan 19, 2018 - 04:49:15 PM UTC
Value and price movement of MIOTA is different in USD and BTC markets.
Price has moved -4.31% (USD) or -4.98% (BTC) in the last 24h.
Market Cap Rank: 10. of 1000+
IOTA trading volume was 98,551,800 USD in the last 24h with circulating supply of 2,779,530,283 MIOTA.
IOTA (MIOTA) price in fiat
IOTA (MIOTA) Price graph
About IOTA (MIOTA)
IOTA is an new and innovative distributed ledger technology to function as the backbone of the Internet of Things.
Made in 2014, it is the only technology of its kind that is able to function as the lightweight distributed ledger with quantum resistance, scalability and decentralization for all IoT devices.
It’s based on a new distributed ledger architecture caled the Tangle, which overcomes the inefficiencies of current Blockchain designs and introduces a new way of reaching consensus in a decentralized peer-to-peer system. Through IOTA people can transfer money without any fees, which means that even infinitesimally small nanopayments can be made through IOTA.
IOTA was created as a far related derivation of the blockchain technology but is far more advanced and is already recognized in the innovation-press like Forbes, Techcrunch, International Business Times and Huffington Post.
Its field of application is set in the IoT, as the technology for data integrity and industrial appliances. Furthermore pay on demand, micro-payments, and machine to machine communication like sensor technology, smart cities, adaptive systems etc.
Also a remarkable result is that in IOTA, the network transaction speed INCREASES as the number of users increases (as opposed to blockchain cryptocurrencies which get slower with increased numbers of users). It also eliminates the need for users to pay ‘miners’ for doing the proof of work (because they do it themselves).
Iota does not seek to replace the blockchain entirely, it also acts as a supplementation to the current blockchain ecosystem by acting as a oracle for smart contract platforms like Ethereum and Rootstock. Additionally it increases security of blockchains by enabling the ability to include checkpoints for transactions.
IOTA has no mining, no blocks, no difficulty, no transaction fees and that’s why its one of the most interesting and innovative cryptocurrency projects at the moment.