Watch Video
01:48

IOTA

Watch Video
01:48

Description

What does IOTA do?

IOTA operates as a scalable platform for micro-transactions and serves as a settlement layer for the Internet of Things. The Internet of Things, or IoT for short, is an exciting new concept that describes the way physical objects can be categorized, identified, and even monetized in a digital way.

By utilizing an entirely unique consensus mechanism called Tangle, IOTA offers its users transactions without any fees. This makes IOTA especially attractive for companies that need to carry out large numbers of transactions.

What is IOTA used for?

IOTA will be used for machine to machine micropayments to support the Internet of Things. To make the cryptocurrency suitable and affordable for the machine-to-machine transactions of the future, quadrillions of IOTA were issued.

With the Internet of Things, IOTA can be used for many purposes simply and automatically. For example, if a toll booth and a car both have Internet of Things sensors enabled, a driver can pay their toll without even stopping as the toll booth sensor charges IOTA from the driver’s car sensor.

Traders are currently buying and selling mIOTA, which are equal to one million IOTA. In addition to machine-to-machine transactions, IOTA tokens are also used between individuals to transfer value.

How can IOTA value appreciate?

By working to support the IoT (Internet of Things), IOTA could earn an important spot in the future of technology. Especially since IOTA is targeting major companies to become its partners (like Microsoft, Samsung, and Volkswagen), the project may have an extremely bright future.

Ultimately, the developers behind IOTA believe it can foster an entire economy for the Internet of Things. If successful, IOTA will certainly appreciate.

What is the difference between IOTA and its competitors?

IOTA uses a unique Directed Acylcic Graph (DAG) mechanism called Tangle that is thought to be quantum-proof, meaning that while other cryptocurrencies have significant reason to worry about hacking attacks from the quantum computers of the future, IOTA may be safe.

Another cryptocurrency that uses the same consensus mechanism (DAG) as IOTA is NANO . The difference is that NANO made changes to the algorithm that allows users to add blocks to their account change that do not affect the rest of the network.

  • Mainnet Launch: 2015
  • Open Source: Yes
  • Consensus Type: DAG
  • Technology: Tangle
  • Total Coin Supply: 2,779,530,283
Reward
+ ?
REWARD
REWARD
score: 0 /100
Risk
+ ?
RISK
RISK
score: 0 /100

Our opinion

lorem ipsum dolor sit amet consectetur adipiscing elit.

Overall Rating 0.00

Idea
+ ?

Innovativeness

Is the project solving a new problem?

Feasibility

Is the project’s solution realistic?

Clarity

Does the project’s message make sense?

0.00

Team
+ ?

Core Members

How experienced and skilled are the team members?

Commitment

Are any key members involved in other projects?

Advisory Board

Is the project advised by anyone notable?

0.00

Market & Competition

0.00

Awareness
+?

Attention

Is the project on the public’s radar?

Hype

Is the general opinion of the project positive or negative?

Community

Is the project supported by a large number of crypto enthusiasts?

0.00

Coin Utility
+ ?

Usefulness

Is the project’s native currency needed for key features?

Versatility

Does the native currency have a number of different uses?

0.00

Our opinion

lorem ipsum dolor sit amet consectetur adipiscing elit

Sign up for free

Description

What does IOTA do?

IOTA operates as a scalable platform for micro-transactions and serves as a settlement layer for the Internet of Things. The Internet of Things, or IoT for short, is an exciting new concept that describes the way physical objects can be categorized, identified, and even monetized in a digital way.

By utilizing an entirely unique consensus mechanism called Tangle, IOTA offers its users transactions without any fees. This makes IOTA especially attractive for companies that need to carry out large numbers of transactions.

What is IOTA used for?

IOTA will be used for machine to machine micropayments to support the Internet of Things. To make the cryptocurrency suitable and affordable for the machine-to-machine transactions of the future, quadrillions of IOTA were issued.

With the Internet of Things, IOTA can be used for many purposes simply and automatically. For example, if a toll booth and a car both have Internet of Things sensors enabled, a driver can pay their toll without even stopping as the toll booth sensor charges IOTA from the driver’s car sensor.

Traders are currently buying and selling mIOTA, which are equal to one million IOTA. In addition to machine-to-machine transactions, IOTA tokens are also used between individuals to transfer value.

How can IOTA value appreciate?

By working to support the IoT (Internet of Things), IOTA could earn an important spot in the future of technology. Especially since IOTA is targeting major companies to become its partners (like Microsoft, Samsung, and Volkswagen), the project may have an extremely bright future.

Ultimately, the developers behind IOTA believe it can foster an entire economy for the Internet of Things. If successful, IOTA will certainly appreciate.

What is the difference between IOTA and its competitors?

IOTA uses a unique Directed Acylcic Graph (DAG) mechanism called Tangle that is thought to be quantum-proof, meaning that while other cryptocurrencies have significant reason to worry about hacking attacks from the quantum computers of the future, IOTA may be safe.

Another cryptocurrency that uses the same consensus mechanism (DAG) as IOTA is NANO . The difference is that NANO made changes to the algorithm that allows users to add blocks to their account change that do not affect the rest of the network.

text