What Is IOTA (MIOTA)?
IOTA is a distributed ledger with a key difference—it doesn't rely on traditional blockchain technology. Instead, it uses a proprietary system called Tangle, a network of nodes that validates transactions. Developed by the IOTA Foundation, this architecture promises faster speeds and scalability, making it ideal for the expanding Internet of Things (IoT) ecosystem.
Key features:
- No miners, no fees: Eliminates transaction costs and congestion issues common in blockchains.
- Unlimited throughput: Designed for microtransactions between IoT devices.
- Real-world applications: Targets digital identity, smart cities, global trade, and product authentication.
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Who Are the Founders of IOTA?
IOTA was co-founded in 2014 by:
- Sergey Ivancheglo
- Serguei Popov
- David Sønstebø
- Dominik Schiener
Notable developments:
- The team spans 25+ countries.
- Ivancheglo left in 2019 but remains an informal advisor.
- Sønstebø and Schiener serve as co-chairs of the board.
What Makes IOTA Unique?
Tangle Technology
IOTA's Directed Acyclic Graph (DAG) structure replaces blocks with a system where new transactions validate two prior ones. This approach:
- Scales with network usage.
- Ensures lightweight, feeless microtransactions.
Partnerships
- Volkswagen: Collaborated on automotive data solutions.
- Taipei Smart City: Implemented IoT projects for urban development.
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IOTA Supply and Economics
- Total supply: 2.78B MIOTA (all in circulation).
- Initial crowdfunding: Raised 1,337 BTC (~$325/BTC in 2015).
- Foundation reserves: 5% of supply, funded by community donations.
IOTA Network Security
Despite being blockchain-less, IOTA uses:
- Proof-of-Work (PoW) puzzles for transaction validation.
- Ongoing scrutiny: Past vulnerabilities have been identified and addressed.
Where to Buy IOTA (MIOTA)?
Top exchanges for MIOTA trading:
- Binance
- Bitfinex
- OKEx
Trading pairs: BTC, ETH, stablecoins, and fiat currencies (USD, EUR, etc.).
IOTA Price History
- All-time high: $5.69 (December 2017).
- Current price: $0.16 (97.21% below peak).
- Market cap: $613.38M (Ranked #134 on CoinMarketCap).
FAQs About IOTA
1. Is IOTA a blockchain?
No, it uses Tangle—a DAG-based ledger.
2. Can IOTA reach its ATH again?
Market conditions, adoption, and tech upgrades will influence price recovery.
3. How does IOTA benefit IoT?
Enables feeless microtransactions between devices (e.g., smart appliances).
4. What’s the long-term vision for IOTA?
To become the standard for machine-to-machine economies.
5. Which wallets support MIOTA?
Trinity Wallet (official) and Ledger hardware wallets.
6. How does IOTA handle scalability?
Tangle’s design inherently scales with user activity.
Final Thoughts
IOTA’s innovative approach to decentralized ledgers positions it uniquely for IoT integration. While its price remains far from peaks, its partnerships and technology suggest long-term potential. Always DYOR before investing.
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