IOTA IOTA

1. Summary

Ranks

Liquidity

98

Developer

95

Social

99

Momentum (beta)

58

Stack Rank™

93

Price

$0.26 +6.3%

Market Cap

$829.25M (#107)

Supply

3.21B / 4.60B

Tags

Smart Contracts Internet of Things (IOT) DePIN DWF Labs Portfolio

More Metrics

Price
52W High price	$0.41
52W High date	14th Mar 2024 (1 month ago)
All Time High (ATH) Date	19th Dec 2017 (6 years ago)
ATH Price	$5.25
% From ATH	-93.84%
All Time Low (ATL) Date	13th Mar 2020 (4 years ago)
ATL Price	$0.08
% From ATL	295.76%

Supply & Trading Volume
Trading Volume (24h)	$23.28M
Total Supply	4.60B
Max Supply	4.60B
Circulating Supply	3.21B

Less Metrics

Description

IOTA stands for Internet of Things Application, and it is a cryptocurrency that was created to help solve some of the scalability problems that are present in cryptocurrencies such as Bitcoin and Ethereum for example.

Read More

IOTA stands for Internet of Things Application, and it is a cryptocurrency that was created to help solve some of the scalability problems that are present in cryptocurrencies such as Bitcoin and Ethereum for example.

In order for the Internet of Things (IoT) to work within a blockchain, the network needs to be able to handle millions of transactions, and this is why IOTA introduces The Tangle.

IOTA’s distributed ledger is known as The Tangle. It is required to verify transactions; however, it does not require a lot of people who are battling to solve cryptographic puzzles in order to create blocks.

For every transaction to take place, it needs to approve two transactions. This means that dedicated miners are not a requirement in The Tangle, and the more transactions that take place, the quicker it becomes at processing them. Furthermore, it has no transaction fees, and it can be used to process transactions for almost nothing as a result.

The MIOTA Token Explained

The MIOTA token is used to transact value on the IOTA distributed ledger. The platform itself functions as a bridge between IoT devices, and the network can handle data transmission to and from connected devices in the IoT ecosystem. The network itself can also execute complex, multi-device smart contracts directly, and to do this it relies on The Tangle, however, for the Tangle to work, it requires and uses MIOTA.

Features of IOTA

The Tangle is also known as the Directed Acrylic graph and is a technology that aims to retain the blockchain’s ability to secure transactions, by throwing away the notion of blocks.

Transactions are validated by approving two previous transactions, so there are no blocks and no miners. When you send an IOTA transaction, you validate two other transactions, and this allows IOTA to overcome the cost of scalability limitations of blockchain technology. The IOTA network by itself is built for the Internet of Things (IoT) with tamper-proof data, feeless microtransactions as well as low resource requirements.

Founders of IOTA (MIOTA)

Discussing the founders of IOTA, it was founded by Dominik Schiener, David Sonstebo, Serguei Popov, and Sergey Ivancheglo. Ever since its inception, the project evolved, and currently has team members across numerous countries around the globe.

Dominik Schiener and David Sonstebo are the co-chairmen of the board of directors.

Serguei Popov is a board member and fills the role as the director of research, while Sergey Ivancheglo, unfortunately, resigned from the project back in 2019, however carries on as an advisor.

Show Less