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IOTA Price today is $1.440 - IOTA exchanges, IOTA Price prediction, market live

Last Updated on April 18, 2021 by

iota IOTA (MIOTA)

$1.440
-5.15% (24H)
Watch
Market CapVolumeAvailable Supply
$3.99 B $158.39 M2.78 B MIOTA

IOTA price today is $1.440, IOTA price -5.15% down in 24h, IOTA market cap is $3.99 B, IOTA exchanges, IOTA price prediction, price charts, market live

IOTA cryptocurrency price live, market,charts, trading volumeIOTA, which stands for Internet of Things Application, is betting on the future of connected devices, as its name implies.

IOTA is a revolutionary new transaction settlement and data transfer layer for the Internet of Things (IoT). It is based on a new distributed ledger technology, the Tangle, which overcomes the inefficiencies of current Blockchain designs and introduces a new way of reaching consensus in a decentralized peer-to-peer system.

Using IOTA, for the first time ever, people and machines can transfer money and/or data without any transaction fees in a trustless, permissionless, and decentralized environment.

This means that even nano-payments are possible without the need for a trusted intermediary of any kind.

In simple terms, IOTA doesn't use blockchain technology.

In fact, IOTA uses distributed ledger based technology termed as Tangle.

Which is developed to overcome the deficiencies of blockchain technology i.e. A transaction can be completed without a fee?

It can also execute a nano as well as a microtransaction efficiently. While maintaining the decentralized, anonymous and peer to peer characteristics of blockchain technology.

As the number of transactions grows over the internet due to more number of connected devices. Hence to settle transactions will require Micro and Nano payment structure.

IOTA will enable the micro and even nano-transactions due to the unique IOTA Tangle architecture.

The tangle ledger is able to settle transactions with zero fees.

Hence devices can trade exact amounts of resources on-demand, as well as store data from sensors and dataloggers securely and verified on the ledger.

IOTA uses authenticated communication channels between devices.

All data which is transferred through IOTA is fully authenticated and tamper-proof — making attacks impossible.

The IOTA Foundation is the Germany based non-profit organization behind the IOTA distributed ledger technology (DLT).

IOTA has already partnered with companies Cisco Systems Inc, Samsung Electronics Ltd, Innogy an energy company. These companies are playing a  major role in the development of IOTA technology and to increase its popularity.

IOTA market is expected to be more than $570 billion by 2020.


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