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About IOTA(IOTA)
What is IOTA?
IOTA is a well-known distributed ledger founded in 2015. It does not rely on a blockchain to secure and validate transactions. IOTA utilizes a unique system called the Tangle, which is a directed acyclic graph (DAG). This sets it apart from traditional blockchain-based systems. The primary objective of the Tangle is to provide faster transaction speeds and improved scalability, making it particularly well-suited for the rapidly expanding Internet of Things (IoT) ecosystem.
Unlike most blockchain technologies, which often grapple with issues related to transaction fees and scalability due to the involvement of miners, IOTA takes a different approach. Since it operates without miners, it eliminates transaction fees altogether. This characteristic becomes especially valuable in scenarios involving micropayments and high transaction volumes, such as those encountered in IoT applications.
IOTA's overarching aim is to establish itself as the standard platform for IoT transactions. Given the projections indicating that there could be as many as 20.4 billion IoT devices in existence by 2024, the potential market for IOTA is vast.
Resources
Official Documents: https://wiki.iota.org/
Official Website: https://www.iota.org/
How Does IOTA Work?
IOTA's Tangle architecture is fundamentally different from the linear chain of blocks found in traditional blockchains. In the Tangle, each transaction confirms two previous ones. This means that when you make a transaction, a small amount of computational work is required to validate two prior transactions. This system creates a self-regulating and scalable network.
To ensure network security without relying on traditional consensus mechanisms like Proof-of-Work (PoW), IOTA includes a simplified PoW during the transaction validation process. Although not a consensus mechanism in the usual sense, this adds an extra layer of security to the network.
What Is IOTA Token (MIOTA)?
The native cryptocurrency of the IOTA platform is known as MIOTA. Contrary to its name, MIOTA is not a separate entity but simply a denomination used to trade and utilize the IOTA network. Unlike many other cryptocurrencies that serve primarily as a digital asset, MIOTA is intended to facilitate real-time microtransactions without fees, particularly between IoT devices.
Which Factors Affect IOTA Token (MIOTA) Price?
Several factors can influence the price of the IOTA token (MIOTA). First and foremost is the adoption rate of the IOTA network, particularly within the IoT industry. Greater adoption would naturally drive the demand for MIOTA tokens. Other factors include the overall sentiment in the cryptocurrency market, technological advancements or setbacks in the IOTA network, and strategic partnerships, like their existing relationships with Volkswagen and the city of Taipei. Moreover, any security vulnerabilities or concerns can also impact investor sentiment and, consequently, the token price.
IOTA's Impact on Finance
IOTA aims to go beyond just IoT devices and tap into various financial and non-financial applications. Its feeless and scalable structure makes it appealing for international transfers, micropayments, and even tasks like verifying the authenticity of products in a supply chain. With partnerships in the automotive industry and smart city projects, IOTA is positioning itself as a versatile solution that could revolutionize multiple sectors.
The team foresees use-cases ranging from usage-based car insurance to more efficient global trade systems, and even the development of smart cities. As a not-for-profit foundation, IOTA aims to enrich its network rather than generate profit, which could have a profound impact on financial systems and our daily interaction with technology.
Conclusion
IOTA distinguishes itself from traditional blockchain technologies with its innovative Tangle architecture. Designed to be the backbone of the next-generation internet—specifically the Internet of Things—IOTA promises versatile applications and has strong partnerships that could make it a transformative force in both technological and financial landscapes.
IOTA to local currency
Crypto calculator- 1 IOTA to USD$0.22
- 1 IOTA to JPY0.21869214
- 1 IOTA to VND0.21869214
- 1 IOTA to RUB0.21869214
- 1 IOTA to EUR (Español)0.21869214
- 1 IOTA to TRY0.21869214
- 1 IOTA to EUR (Italiano)0.21869214
- 1 IOTA to EUR (Français)0.21869214
- 1 IOTA to EUR (Deutsch)0.21869214
- 1 IOTA to CNY0.21869214
- 1 IOTA to TWD0.21869214
- 1 IOTA to EUR (Português)0.21869214
- 1 IOTA to IDR0.21869214
- 1 IOTA to THB0.21869214
- 1 IOTA to PLN0.21869214
- 1 IOTA to UAH0.21869214
- 1 IOTA to UZS0.21869214
- 1 IOTA to SAR0.21869214
- 1 IOTA to PHP0.21869214
Trade IOTA perpetual futures
After having successfully signed up on Bitget and purchased USDT or IOTA tokens, you can start trading derivatives, including IOTA futures and margin trading to increase your income.
The current price of IOTA is $0.2187, with a 24h price change of +0.30%. Traders can profit by either going long or short onIOTA futures.
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IOTA Social Data
In the last 24 hours, the social media sentiment score for IOTA was 3, and the social media sentiment towards IOTA price trend was Bullish. The overall IOTA social media score was 0, which ranks 987 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with IOTA being mentioned with a frequency ratio of 0%, ranking 633 among all cryptocurrencies.
In the last 24 hours, there were a total of 112 unique users discussing IOTA, with a total of IOTA mentions of 20. However, compared to the previous 24-hour period, the number of unique users increase by 19%, and the total number of mentions has increase by 67%.
On Twitter, there were a total of 0 tweets mentioning IOTA in the last 24 hours. Among them, 0% are bullish on IOTA, 0% are bearish on IOTA, and 100% are neutral on IOTA.
On Reddit, there were 10 posts mentioning IOTA in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 17% . Additionally, there were 0 comments mentioning IOTA. Compared to the previous 24-hour period, the number of mentions decrease by 0%.
Visão geral das redes sociais
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