IOTA cryptocurrency 2018 Overview: is it so innovative?

By |2020-01-20T18:01:27+00:00May 10th, 2018|Tags: |

Almost all the Cryptos are made on the same technology, but with a certain pack of differences and advantages. In simple words we should understand that there is a distributed ledger that is made up of transactions that are linked in “blocks” and all together in a sequence (so called chain) – this is a blockchain.

But IOTA (MIOTA) is a different coin. It’s a cryptocurrency that is based on a distributed ledger without blocks, and there is no chain. IOTA value or a benefit is its scalability, but there is one important point one should have in mind – IOTA is time- and resource-intensive, which makes scaling quite difficult.

If we are talking about IOTA we should consider the term Tangle. The Tangle is a data structure; specifically a Directed Acyclic Graph (DAG), which is an innovative technology. Such a structure allows the network to scale, and when it scales it gets faster.

IOTA is a cryptocurrency that has no transaction fees and there is no need in miners to process transactions and due to several reasons the IoTa can be used as an ideal option for the Internet of Things “IoT” as a distributed communication protocol.

IOTA Cryptocurrency Price

So, what about IOTA coin price and what could be the IOTA price prediction for the 2018? Let’s take a look.

IOTA today is in the TOP 10 Cryptos according CoinMarketCap with a more than 6 billion US dollars capitalization. IOTA token price today is at the level of 2,30 USD per token, which is not very high in comparison with the others. Nevertheless, the coin is one of the most popular digital assets traded on the most famous Crypto Exchanges like Bitfinex, Binance, Huobi, OKEx, HitBTC, etc., where you can both sell and buy IOTA Cryptocurrency.

Advantages of IOTA and its technology

IOTA has no mining, no blocks and no difficulty

IOTA has no transaction fees

IOTA scalability almost unlimited

IOTA is mainly an interoperability protocol that helps solving the IoT-related issues

IOTA serves for the machine economy

IOTA is highly supported by the IOTA Foundation and Token Community

IOTA has Micro-Payments

Summary

IOTA looks to be Fee-less and scalable. This makes IOTA incredibly promising as a technology for a huge number of applications. IOTA is cheap and future ready, which expands significantly the possibilities of industrial appliance thanks to the “Tangle”. IOTA is an incredibly ambitious and interesting project so far. The IoT aspect of IOTA is also quite interesting. Giving machines the ability to trade information, services, and goods for income is an interesting proposition using a transaction-free network.

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