What is IOTA (MIOTA) cryptocurrency about?

What is IOTA about?

IOTA is a revolutionary cryptocurrency and platform created specifically for the concept of the Internet of Things. It is not like any other project or coin, which makes it unique and very promising.

IOTA is capable of becoming the transactional fuel that will ensure the implementation of smart enterprises with the participation of machines combined into one network.


Read our IOTA (MIOTA) Price Prediction for 2019


In 2015, S.Popov, D.Shiner, D.Sonstebe, S.Ivancheglo started working on IOTA. IOTA is both a cryptocurrency and a system for implementing instant micropayments without any commission. This makes it very different from other coins.

With the help of IOTA, you can ensure that the smallest tasks in the united network can be accomplished: turn on the lights or turn off the kettle. And thanks to such features, IOTA can be integrated into the Internet of Things, performing transactions between points.

IOTA (MIOTA) Value

The development of the Internet of Things, or IoT, is carried out by leading technology companies such as Microsoft, Samsung, Google, IBM, and others. With some of these companies, the IOTA project is cooperating at the moment, and with some of them, they are negotiating on the implementation of the idea of the Internet of Things by common efforts.

IOTA (MIOTA) price chart

According to the forecasts of all the same analysts, more than half of all devices, by 2022, will be connected to the Internet of Things, and, accordingly, within their network will integrate their means of payment. As planned by the IOTA project, it is their MIOTA coin that will become the primary settlement tool for IoT. All these factors will positively affect the growth of the cost of the MIOTA price.

Now IOTA is trading for $0.283421. The highest price was tested on Dec 19, 2017, and the coin was worth $5.69. The lowest point was marked on 15 July 2017, and the price was $0.147933. Total supply of the cryptocurrency is 2,779,530,283 MIOTA and all of the coins are in circulation. 

?️ You can check out the price-list formation and more details about the coin on BitcoinWiki.org.

IOTA (MIOTA) Blockchain Review

The development of this system was originally based on the bitcoin code. It took a lot of work to adapt the technology Tangle and eliminate the resulting vulnerability of the system. However, as a result, the IOTA platform has become open to the introduction of innovative technologies and developments.

IOTA Tangle Technology

Due to the competent approach to the development of the cryptocurrency project, IOTA has the following distinctive features:

  • Transaction processing does not require user support in the form of mining, respectively, eliminating the need to create pools and centralize emissions within their activities;
  • Due to the absence of mining, the transaction fee is also abolished, which makes it possible to carry out micropayments;
  • No limit on transaction scaling and processing thousands of transfers per second.

At the user level, these aspects are as follows:

  • To perform the transfer, no synchronization with the network and verification of the entire blockchain is required, transactions are also available in offline mode;
  • There are no commissions; IOTA network support is provided by each transfer and does not require additional costs;
  • Due to the abolished commission, 1 cent micropayments are processed as quickly as large transfers;
  • No large processing power is necessary to process transactions; the self-regulation system provides autonomous support for IOTA transfers, regardless of their number and size.

IOTA Roadmap

Before talking about plans, let’s sum up some historical moments of IOTA. The beta test lasted for almost a whole 2015 year; all this time, users could exchange funds outside the exchange. In 2017, the technology was the first to receive an investment – the investor Outlier Ventures invested in the project an amount that is 7 times the estimated cost. At the same time, the payment system SatoshiPay switched to using Iota.

In August 2017, the project established cooperation with a large REFUNITE database containing information about missing people. REFUNITE began to apply IOTA technology to help resolve family conflicts.

By that time, no one doubted the success of a startup; large venture investor RobertBosch VentureCapital had acquired an impressive batch of IOTA coins. In addition, the IOTA Foundation was invited to Tokyo to experience in the program for the accelerated development of blockchain technologies, along with such giants as Toyota or Sony.

In the development priority of the site, according to the developers, is the Internet of things. This is a promising direction now, and it needs an influx of fresh ideas. The Internet of Things (IoT) is a collection of all the gadgets connected to the Internet that surround us every day. IOTA wants to create a similarity to a single local network that reliably connects all these devices.

IOTA Latest News

The largest British automaker Jaguar Land Rover has begun testing smart contracts based on IOTA technology. The program is a smart wallet embedded in cars. 

The new service will allow participants to receive IOTA tokens for providing information about road congestion and road pavement status, as well as for participating in the ridesharing program. Drivers will be able to spend them on paying for parking or charging electric cars.

It is known that the technology will be equipped with a model Jaguar F-PACE and Range Rover Velar. The launch date of the software for the mass consumer is unknown.

Cryptocurrency IOTA showed an increase of 20%.

IOTA (MIOTA) Wallets

For storage of IOTA, you can use quite a wide range of wallets: hot and cold. Choose any from the list below!

  • IOTA Wallet. Light wallet from the founders of the cryptocurrency. Available for Mac, Linux, and Microsoft.
  • IOTA Trinity Wallet. The wallet is available both for mobile and desktop. Trinity is completely user-friendly. 
  • Nostalgia Wallet is another desktop wallet which is easy to use. Guide on how to install Nostalgia wallet.

You can also use Ledger hardware wallet to make your assets more secure. 

Where to trade IOTA (MIOTA)?

It’s easy to exchange MIOTA coin due to a significant number of platforms accepting this cryptocurrency.

ExchangeBTCUSDETHUSDT
Binance
OKEx
HitBTC
Huobi

IOTA Summary

The technology of the Internet of Things in which this project is developing is very progressive, and at the moment, there is no infrastructure in the world that would be able to ensure its normal functioning. In addition, it should be understood that the world community is not yet ready to use the Internet of Things in all areas of activity.

IOTA is a grandiose project that should revolutionize the Internet of Things, allowing all devices connected to the network to perform microtransactions without a fee.

Disclaimer: This article about IOTA (MIOTA) should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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