IOTA (IOTA) Price

One of the key features of IOTA is its suitability for the Internet of Things application. With tamper-proof data, feeless microtransactions, and low resource requirements, the IOTA network is designed to support IoT devices seamlessly.

IOTA is at the forefront of enabling economic relationships between machines, bridging the gap between the human and machine economies. With IOTA, machines can autonomously exchange data and value, facilitating the next industrial revolution.

The Tangle system is the underlying network of IOTA. It immutably records the exchange of data and value, ensuring the information is trustworthy and cannot be tampered with. Unlike traditional blockchains, the IOTA Tangle utilizes a Directed Acyclic Graph (DAG) data structure, allowing transactions to be added in parallel, resulting in increased scalability.

IOTA is designed to cater to low-energy IoT devices, allowing for efficient participation in the network. Transactions can be sent and received with any amount, ensuring inclusivity and flexibility. Moreover, IOTA transactions are confirmed within minutes, showcasing its efficiency and speed.

The IOTA project aims to address several problems in the field of distributed ledger technology (DLT) and the Internet of Things (IoT). These include scalability, transaction fees, and security concerns. IOTA's unique Tangle architecture, feeless transactions, and quantum-resistant cryptography aim to overcome these challenges and provide a scalable and secure infrastructure for IoT devices to interact and transact with each other.

Currently, the network is experiencing a major update, called IOTA 2.0. The most prominent feature to be introduced is slot commitment chains, which will play a critical role in achieving consensus, maintaining ledger synchronization, resolving forks, and driving finalization. They enable nodes to create a reliable and consistent ledger state, ensuring network integrity and trustworthiness.

The current IOTA price in USD with real-time updates is shown on this page of the Changelly crypto exchange. If you want to buy crypto, you can also use our cryptocurrency converter to know how many IOTA (MIOTA) tokens you will receive if you decide to buy IOTA with fiat currencies like USD or other cryptos like Binance Coin.

How Does IOTA Work?

The Tangle system is the innovative underlying technology that powers IOTA, the distributed ledger designed specifically for the internet of things (IoT) ecosystem. Unlike classic blockchain systems, which utilize blocks and miners to validate transactions, the Tangle operates in a different manner, providing several unique benefits.

The way the Tangle system works is fascinatingly simple yet robust. Instead of employing a linear chain of blocks, the Tangle consists of a directed acyclic graph (DAG). In this graph structure, every transaction is linked to two past transactions, forming a web of interconnected transactions.

When someone wants to make a transaction on the IOTA network, they must first validate two previous transactions by performing a small amount of computational work. This innovative process, known as "proof-of-work," helps secure the network from malicious activities while simultaneously confirming other transactions.

The Tangle's beauty lies in its scalability. As more transactions occur on the network, the overall speed and efficiency increase. This is due to the fact that each new transaction helps to validate and confirm two previous transactions, creating a mutually beneficial relationship where the Tangle becomes stronger as it grows.

Moreover, the absence of fees in IOTA sets it apart from other cryptocurrencies. Because users participate in the consensus mechanism by confirming previous transactions, there is no need for traditional transaction fees. This makes IOTA an ideal solution for micropayments and transactions within the IoT ecosystem.

Also, the Tangle's structure makes it highly resistant to centralization. As more users join the network and participate in confirming transactions, the overall security and decentralization increase, making it harder for any single entity to control the network.

IOTA Tokens

The IOTA token, developed by IOTA Technologies, is a powerful tool for value transfer and exchange of data and services between humans and devices in a future economy. With a unique approach and a non-profit foundation, the IOTA (MIOTA) cryptocurrency aims to revolutionize digital asset transactions.

The IOTA Foundation, a non-profit organization, oversees the development and adoption of the IOTA coin. This non-profit status adds trust and value to the token, ensuring that it serves the best interests of its users and the wider community. The foundation's mission is to create an open-source, standardized protocol for the world to use, enabling seamless exchanges of value and data.

Unlike other digital assets, the IOTA crypto does not rely on miners or stakers. This means that payments can be conducted without involving a transaction fee, making it highly suitable for a wide range of use cases. This feeless transaction capability allows for the creation of innovative solutions, enabling machines and humans to interact and transact freely without being limited by transaction costs.

The creation of IOTA coins was done fairly and transparently. There were no locked tokens, early corporate investors, or tokens awarded to founders. Instead, roughly $500,000 was raised from a crowdfunding campaign in 2015. Additionally, 5% of tokens were donated by the community to support the sustainability of the project and the work of the IOTA Foundation.

Sometimes, the native currency of the IOTA network is called MIOTA (mega IOTA). MIOTA and IOTA are essentially the same thing. MIOTA is commonly used as an abbreviation for one million IOTA tokens.

The smallest denomination of the IOTA cryptocurrency is called "micros", with 6 decimal points. The total supply consists therefore of 4,600,000,000 IOTA tokens or 4,600,000,000,000,000 micros.

It’s worth noting that some cryptocurrency exchanges might be utilizing the ticker “MIOTA” on their trading platforms, which represents 1 IOTA or 1,000,000 (1 million) micros. Before you buy or sell IOTA, please make sure you understand what denomination the crypto exchange is using so you don't get tricked into selling/buying under/over the current price.

Take advantage of our interactive IOTA price chart to learn about the IOTA price history. This can assist you in making informed investment decisions by analyzing historical movements of the IOTAs price, identifying patterns, and recognizing potential buying or selling opportunities.

You can also use additional resources on our platform to access expert analysis, news updates, and market insights related to IOTA. This combination of information and tools can provide you with a comprehensive understanding of IOTA's price dynamics and help you stay up to date in the evolving cryptocurrency market.

IOTA Network Use Cases

The IOTA distributed ledger ecosystem offers several use cases for IoT devices, including:

Machine-to-Machine (M2M) Payments

IOTA is designed to facilitate microtransactions without fees between smart devices, allowing machines to securely exchange value and resources directly without the need for intermediaries.

Supply Chain Transparency

IOTA's ledger ensures transparent and immutable records, facilitating end-to-end supply chain visibility for tracking and tracing products, reducing fraud, and enhancing accountability.

Data Integrity and Security

By leveraging IOTA's Tangle technology, IoT devices can securely record and verify data, ensuring its integrity and protecting against tampering or unauthorized modifications.

Decentralized Identity and Access Management

IOTA provides a framework for managing decentralized identities and access rights for IoT devices, granting secure and granular access permissions to different stakeholders.

Energy Grid Optimization

With IOTA, IoT devices in an energy grid can autonomously transact energy with each other, enabling efficient energy distribution, demand-response mechanisms, and peer-to-peer energy trading.

Smart Cities and Infrastructure

IOTA's distributed ledger can facilitate seamless integration and interoperability among diverse IoT infrastructure components, enabling efficient management of resources and services in smart city deployments.

Autonomous Vehicles and Transportation

IOTA allows secure and transparent data sharing among connected vehicles, optimizing traffic management, enabling vehicle-to-vehicle communication, and facilitating autonomous vehicle coordination.

Data Marketplace

IOTA's ecosystem provides a platform for trading and monetizing IoT-generated data, allowing device owners to sell data directly to interested parties in a secure and decentralized manner.

Extensive use cases can potentially impact the IOTA price positively. As the number of IOTA users grows, that can increase the demand for IOTA tokens, potentially driving up the cryptocurrency price due to increased market demand. However, in the crypto market, multiple factors can both cause the asset’s price to rise and fall including market sentiment, overall crypto market conditions, and regulatory developments.

Who Founded IOTA?

The IOTA project is a decentralized open-source distributed ledger technology (DLT) designed to facilitate secure communication and transactions between devices connected to the Internet of Things (IoT).

The core IOTA team was presented by Dominik Schiener, Serguei Popov, David Sønstebø, and Sergey Ivancheglo who co-founded the platform in 2015. The IOTA Foundation, established in 2018, oversees the development of IOTA.

In 2019, Ivancheglo resigned from the IOTA Foundation's board of directors, demanding 25 million MIOTA tokens that were unclaimed from the IOTA Initial Coin Offering (ICO). In December 2020, Sønstebø's role within IOTA was revoked by the supervisory board due to unprofessional behavior and comments.

Currently, Schiener and Popov, along with Dr. Navin Ramachandran, serve on the IOTA Foundation's board.

IOTA Price Today

The current IOTA price in US dollars with a recent price change is shown on our interactive chart. Our cryptocurrency exchange also provides other vitals regarding the market performance of the IOTA digital asset, including the market capitalization (market cap), daily trading volume, and circulating supply.

By using our IOTA price chart, users can access the historical data of IOTA's price movements over a specific period of time. This valuable information allows users to analyze patterns, trends, and volatility in IOTA's price, helping them make informed decisions regarding investments or trading strategies.

You can also get acquainted with our IOTA price prediction to get a better idea of how the digital currency’s value may change in the years to come. However, our IOTA MIOTA price forecast is not guaranteed, and you should perform your own IOTA price analysis and research the project before you buy, sell, or trade IOTA.

The highest price paid for the IOTA coin (the all-time high) is $5.69. The lowest price paid for the IOTA coin (the all-time low) is $0.08. The average price of IOTA today is revolving around the $0.15 mark. This indicates significant volatility in the crypto price of IOTA.