IOTA is a cryptocurrency that stands apart from others for having the base of its operation in the Directed Acyclic Graph (DAG, for its acronym in English) with an architecture called Tangle, while the most famous ones such as bitcoin or ethereum do it through blockchains (blockchain).
This cryptocurrency, also known as MIOTA, is created to be used as a means of payment with unlimited scalability (transactions) and through all the devices that are part of the internet of things no additional fees.
Founded by a German company in 2015, IOTA is a project that seeks to add electronic devices and objects to a single centralized networkso that all users can process, collect data in real time and carry out automated activities on its basis, thinking that in the future the internet of things will mean billions of simultaneous operations as basic as voice commands to turn off lights, refrigerators that ask for the supermarket as soon as it is empty, cars that drive themselves, among others.
Similarly, IOTA technology ensures that users of this cryptocurrency have a more reliable environment than the network. blockchainsince in the latter, transactions are allowed to be carried out asynchronously, in an orderly and slow manner for security reasons; while the Tangle allows parallel operations.
Unlike blockchainin this new scheme each of the records or users has a unique timestamp and must be subject to a cryptographic signature consisting of 81 charactersLikewise, each transaction is made through this private key that does contain details such as the sender, recipient and amount.
With this, the main characteristics of IOTA are: they do not have scalability limits, so unlimited transactions can be made; the system adjusts to usage and popularity without being highly volatile; does not require mining or miners; and has no extra fees for trading.
The popularity of IOTA has been increasing and in January 2018 Taipei signed an agreement to start testing this cryptocurrency in order to convert its capital into a smart city.
According to information from Binance, this digital currency currently has 2.78B units created.
Hour: 3:45 p.m. (UTC time)
Cost: 0.3135791 dollars
Change in the last 24 hours: -7.48%
Change in the last hour: 0.59%
Popularity by capitalization: #55
A cryptocurrency is a digital medium exchange that does not physically exist and that uses cryptographic encryption to ensure the integrity of its operations, while maintaining control over the creation of its new units.
Bitcoin was the first to be launched on the market and was later followed by others that have also had great relevance, such as litecoin, ethereum, IOTA, tether, cash, ripple, decentraland, even some that emerged from memes like dogecoin.
cryptocurrencies they have various elements that make them unique: not being controlled by any institution; not require intermediaries in transactions; Y almost always use accounting blocks (blockchain) to prevent new cryptocurrencies from being illegally created or transactions already made from being altered.
However, by not having regulators such as a central bank or similar entities, they are pointed out not being reliable, being volatile, promoting fraud, not having a legal framework that supports its users, allowing the operation of illegal activities, among others.
Although it could be a paradox, cryptocurrencies in turn guarantee security to their miners in terms of the network in which it is located (framework) and that implies code management; hacking this security is possible but difficult, because whoever tried it would have to have a computational power even superior to that of the computer itself Google.
To acquire and exchange them you can through specialized portals. Its value varies depending on the supply, demand and commitment of the miners, so it can change faster than traditional money, but the more people are interested and want to buy a certain badgethe higher its price.
However, whoever invests in this type of digital currency must be very clear that this form brings with it a high risk to capitalWell, just as there may be an increase, there may also be an unexpected crash and end the savings of its users.
To store them, users must have a digital purse or wallet, which is actually a software through which it is possible to save, send and make transactions of cryptocurrencies. In reality, this type of wallet only stores the keys that mark the property and the right of a person over a certain cryptocurrency, so these codes are the ones that must actually be protected.