Tag Archives: MIOTA

IOTA (MIOTA)

IOTA, the next boom?

Many think that 2018 will be the year of IOTA and its currency MIOTA. To be honest, It blew my mind when I first learned about IOTA: a crypto which in spite of not being based on blockchain, increases transaction speed and does not need either miners or fees? WOW!!!! Can it be real?… Is MIOTA silently eating other cryptos’ lunch?

iotacoin

IOTA is focused on providing secure communications and payments between machines on the Internet of Things. It has a market cap of roughly $14 billion. I first heard about this coin when Bosch corporation acquired a large number of MIOTA tokens in 2017.

miota
                The Internet of things

Iota makes use of distributed ledgers. As I said before, unlike most cryptos, it does not use blockchain. Instead, it uses a technology its developers call the tangle, wich is based on a mathematical concept known as DAG (Directed Acyclic Graph). This design is what distinguishes MIOTA from other cryptos.

IOTA TANGLE
IOTA TANGLE

IOTA does not need miners, so there are no fees either. IOTA is 100% free to use, but it is still decentralised. Everybody plays an equal role in the network. Any time a transaction is made, the issuer must help authenticate to prevuious and also random transactions. It uses a series of cryptographic algorithms along with many other sophisticated techniques to do this work. Any device can manage it without too much effort.

A network like IOTA supports and facilitates a machine to machine economy and allows for two important features: microtransactions and speed (TSS, Transactions per Second). The more people that use the network the faster it becomes. That’s why, in the near future,  I dare say IOTA has good chances to become the underlying protocol behind the next revolution: the internet of things.

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If you are interested in getting some MIOTA you can get them on  Binance. Please note that you must buy MIOTA with ETH or BTC, so you will need to transfer them from another exchange or wallet.

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