#SUNDAYCOINDAY WEEK 2: IOTA (MIOTA)
IT IS IMPORTANT TO SAY THAT THIS IS NOT FINANCIAL ADVICE, I WILL JUST SHARE THE INFORMATION I SEE RELEVANT ABOUT EVERYONE OF THOSE PROJECTS AND MY PERSONAL OPINION ABOUT CERTAIN TOPICS OF THEM.
TODAY: IOTA (MIOTA)
OVERVIEW
IOTA basically creates a blockchainless approach, with MIOTA as the cryptocurrency for the Internet-of.Things industry. Instead of the block verification IOTA creates a TANGLE where the users to issue a transaction, they must work to approve other transactions, in other words, they reach consensus in a peer-to-peer decentralized way.PROBLEMS THEY'RE TRYING TO SOLVE
The main problem is the micro-payment issue, where its nonsense that you make a small transaction knowing that the fee is bigger than the amount you're trying to send, and get rid of the fees are not easy because it is the incentive to those who put the blocks. The TANGLE offers a no-fee environment specially designed for micro-transactions between machines.
3 . THE TANGLE
Is a directed acyclic graph (DAG) as a distributed ledger which stores all transaction data of the IOTA network. It is a Blockchain without the blocks and the chain:
The consensus here is no longer an apart issue, it is now an instrinsic part of the system.
The network is composed by nodes, which are entities that issue transactions, nodes work this way
more information in the whitepaper: https://iota.org/IOTA_Whitepaper.pdf
4 . THE TOKEN
The MIOTA token enables a Machine Economy that makes every technological resource a potential service to be traded in an open market with no fees.
-Market Cap: $738,821,385
-Circulating supply: 2,779,530,283 MIOTA
-Total supply: 2,779,530,283 MIOTA
You can get MIOTA trhough Bitfinex exchange.
FINAL THOUGHTS
I think that this is a must have in a wallet, i personally think that is a crypto that could at least duplicate its price in the mid to long term, according to the acceptance and the stability of the network.
They currently have an Alpha on t.
Further information in the webpage: https://iota.org/
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IOAT is great technology. I hope you´re right about its future. I personally think it can be the next big thing even beyond doubling its price;-)
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IOTA has great features going for it and had good press lately. I think the wallet software needs a 2.0 version and transaction reliability to go up before it can really shine.
Best coin on the market