IOTA — A Distinctive Crypto Coin We Should Know
Learn another cryptographic coin, and you might be able to retire 30 years in advance.
Bitcoin, blockchain, decentralized ledger, miners etc…. those hot issue we attached almost every day, and we are also much more concerned about those things, hoping to snatch a big piece of pizza from it.
And those crypto network or crypto currency which imitated the core operating system and mathematical algorithm invented by Bitcoin, have carried out many issues that are generally revealing as increasing number of users.
But I am not gonna to elaborate what’s the issues with Bitcoin and Bitcoin-like crypto network and how to solve the problems.
Here I bring a novel crypto network — — IOTA, and its totally different running system. Lets cut the chase to learn about it.
WHAT IS THE IOTA ？—— the first question normally arise at the beginning
IOTA, is a revolutionary new decentralized ledger which uses a mathematical concept known as Directed Acyclic Graphs(DAG). It utilizes a novel invention, called a “Tangle”, unlike the traditional blockchain design used by most cryptocurrencies. As such, it has no Block, no Chain and also no Miners.
At its core, IOTA Tangle still has the same underlying principles as a Blockchain: it’s still distributed database, it’s still a P2P Network and it still relies on a consensus and validation mechanism.
IOTA has a range of features that are uniquely enabled due to its architecture:
- Scalability: IOTA can achieve high transaction throughput thanks to parallelized validation of transactions with no limit as to the number of transactions that can be confirmed in a certain interval
- No Transaction Fees: IOTA has no transaction fees.
- Decentralization: IOTA has no miners. Every participant in the network that is making a transaction, actively participates in the consensus. As such, IOTA is more decentralized than any Blockchain.
- Quantum-immunity: IOTA utilized a newly designed trinary hash function called Curl, which is quantum immune (Winternitz signatures).
Iota coin is a typical token of Iota, called MIOTA(Iota token). According to Iota price chart, Iota rank 9 in terms of highest market cap. The meteoric rise happened in Dec 2017, reaching the peak of USD price by 5.34, after that, iota have dived down quickly and then gone onto a continuous decline overall until April in 2018. And now, iota is warming up overall.
Iota owns market cap 4,820,845,118 USD, and the price of MIOTA is 1.70USD per coin, equivalent to 0.00021141 BTC. The volume within 24h is 78,237,200 USD. From the lower pic, we can see there is a pullback, decline down by 10.19%, as cryptocurrencies of the top ten all decline today.
Before you are planing to buy iota coin, here is one thing worth to mention is how IOTA achieves consensus and how transactions are made. As mentioned previously, there are no miners. What this means is that each participant in the network that wants to make a transaction has to actively participate in the consensus of the network by approving 2 past transactions. This attestation on the validity of two past transactions ensures that the whole network achieves consensus on the current state of approved transactions, and it enables a variety of unique features that are only seen in IOTA.
When you have reached at this part of content, you are must getting more interest about this crypto coin. Here I offer you a lovely platform that might can help you — — — https://citicoins.com/.
Go to the website I offered above, there is a search bar on the top right corner promoting you with “Search”.
After u jumped into the specific coin page, Website will now display the details of cryptocurrency “IOTA” which includes it’s official website, sourcecode, communication channels and more financial details like market cap, 24hour volume, circulation supply and maximum supply of that particular currency. These parameters generally help traders who’s analysing a particular currency to understand the value of it.
And also you can see multiple tabs positioned in the middle site of this page. To answer “how can I buy iota”, we go to click the 2nd tab on the multiple tabs bar.
Click on this Markets tab and it shows you the list of all exchanges where it is traded and also multiple entries for same exchange showing the different trading pairs available on those exchanges.
Now you know where to buy iota cryptocurrency, all you need to do now is buy BTC or ETH and transfer it to corresponding exchange as listed above and make the purchase.
Just be cautious when you consider to buy any coin, since we have almost 1600 trade coins, and the numbering is increasing day by day, we ain’t able to predict how the crypto market is going and what will happen in next second. Maybe one or more crypto coins will be rocketing or meteoric pullback on each given day.
You don’t have Iota coin price prediction, right? So you may get retired by 35 years old if you ride on a rocket, or you may go back to plain broke with a submersible missile.
Anyway, good luck bro!