IOTA (MIOTA)
| Market Cap | $544,758,547 |
|---|---|
| Trading Volume | $12,321,960 |
| Volume / Market Cap | 0.0226 |
| Total Supply | 2,779,530,283 MIOTA |
| Max Supply | 2,779,530,283 MIOTA |
IOTA is currently trading at $0.1959, after a price change of 1.82% in the last 24 hours.
Ranked as cryptocurrency #68 by capitalization today, MIOTA market cap is valued at $544,758,547. MIOTA trading volume reached $12,321,960 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on MIOTA coin price prediction page.
What is IOTA?
IOTA is a cryptocurrency that is not based on blockchain technology. By relying on Internet-of-things apps to finish its operations, it enhances scalability and usability. It was introduced in 2015 by David Sønstebø, Dominik Schiener, Sergey Ivancheglo, and Serguei Popov. The native token of this platform is known as MIOTA.
Although blockchains offer a safe and transparent way to control the flow of information, there is an incentive mechanism where the miners receive rewards for expending computational power. It uses a unique data structure where each node is tangled with numerous others. This allows the system to process the transactions at the same time.
With more nodes being added, the efficiency and security of the network go up. There is no need for miners as the system can reference the previous couple of orders to authenticate a transaction. Not only does this reduce the number of resources, but it also brings down the processing period.
For transaction verification, the network uses a proof-of-work model where members need to solve some puzzles or quizzes. There are no fees involved and you can use the MIOTA token for a wide range of systems.