With the market surging of the cryptomarket including the main blockchain coin, bitcoin, other altcoin showing the real power to real competition too. Today presenting the Altcoin name IOTA, an open source token system coin distributed over the web for the purpose to spread and monitize Internet of Things.
This article we going to enlight the ICO token named IOTA and explore its working and wiki, finally its values and price surging.
Since the news after the Microsoft to joining the IOTA, the price surged from 0.37$ to 5$ within months, increased over 400% of its initial price a month ago, breaking the market cap checkpoints of ripple to be placed at 4th position by its market cap value, those who invested at the right moment going to enjoy the future of IOTA itself.
What is IOTA?
Stated on the iota’s official website.
IOTA is a revolutionary new, next generation public distributed ledger that utilizes a novel invention, called a “Tangle”, at its core. The Tangle is a new data structure based on a Directed Acyclic Graph. As such it has no Blocks, no Chain and also no Miners. Because of this radical new architecture, things in IOTA work quite differently compared to other Blockchains. For a Blog post outlining IOTA in more detail, you can head over to our Blog.
What is a Token? A token doesn’t require the miner to mine, hence giving rise to p2p transaction fast. Since there are no miners required to complete the transactions there is no transaction fee required, though the service may charge the extra fee.
IOTA doesn’t work on the blockchain instead, it works on the technology so-called tangle which is connected dots and line as it drawn on paper, based on the other mathematical concept called directed acyclic graph which makes the transaction speed dependent to the number of the transaction sent, raising the p2p transactions conveniently. This concept divides the IOTA from other cryptocurrencies.
As it is a token system, mean it cannot be minable by the hardware and therefore using and making transaction doesn’t require any fee for the miners and all.
IOTA Supports Microtransaction, those are one which is done in very small amount like 0.01, IOTA can handle it all. On the other side, Bitcoin and many other blockchain cryptocurrencies face many difficulties while achieving it.
Key Features of IOTA
- Fast transaction
- Doesn’t work on Blockchain, but on a different concept named tangle
- Tokenize system
- doesn’t need miners to fulfil transactions
- No transaction fee required
- Great token to get started investing it as a beginner
IOTA’s Data Marketplace
The main reason for the Microsoft in IOTA was actually it data marketplace itself. IOTA launched its marketplace for the data generated by the 3rd party. The main objective behind it is mainly to monetize the 2.5 quintillion bytes of data being generated daily and growing exponentially.
IOTA makes it possible
to securely store, sell,
and access data streams.
Does IOTA have future to Invest in?
Working on the miner less base with no transaction fee requirements and fast transaction with the concept of marketplace make it very reliable token system to invest in. IOTA is expected to surge even further in coming months.
Read more about IOTA documentations
I myself invested a small amount in the IOTA and will recommend you to invest small amount too. iota price predictions are really on the positive scale, as the concept behind it is really good and positive.
looking for a great future ahead in the token world.
Share your views in the comments section below.