IOTA, is a distributed ledger technology designed to develop the industry, which is called the internet of things for short. The crypto asset of this network is named MIOTA.
When Was IOTA (MIOTA) Founded? What are the Technical Details?
The IOTA project can be said to be one of the older members of the blockchain world. The project started to be developed in 2014 and was officially launched in 2016. Developed by a total of four founding partners, the project continued in 2019, with only one partner (as a consultant) continuing to work.
Although the project is designed as a distributed ledger technology, it is not a product of blockchain technology. The project, which has a technological infrastructure called Tangle, differs from many mainstream projects in this regard. Tangle prefers a data structure called DAG to store, verify and confirm transactions, unlike the cross-block transactions in blockchain technology.
What Does IOTA Do? How Is IOTA Mining Done?
Since the IOTA project is not built on blockchain technology, it is exempt from mining operations and therefore from mining fees, as in other projects. Although this feature may seem like a disadvantage, its Tangle technology helps to make transactions free of charge. The project, coded as a blockchain extension, promises to work more efficiently with a simpler structure and to do it for free.
As we have just mentioned IOTA coin Due to its nature, mining is not possible.
IOTA’s total supply and circulating supply are currently set at 2,779,530,283, and both are worth the same. Although the price is currently trading at $0.5227, it peaked at $5.69 on December 19, 2017.
How to Buy IOTA?
IOTA (MIOTA) It is currently traded on crypto currency exchanges serving globally and in Turkey. As a member of the exchange suitable for you, IOTA/USDT, IOTA/BTC, IOTS/ETH etc. You can trade in pairs.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.