IOTA (MIOTA) — a distributed ledger with one big difference: it's not actually a blockchain. Instead, its proprietary technology, known as Tangle, is a system of nodes that confirm transactions.
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Information about the IOTA project (MIOTA)
The founder of this project claims that it offers much faster speeds than conventional blockchains and is ideal for the ever-expanding IoT ecosystem. There is no blockchain on the platform, no miners, and since there are no miners, there are no fees. On many established networks, costs skyrocket as congestion increases, but IOTA aims to provide unlimited bandwidth at the lowest possible cost.
Over time, the goal of IOTA - to become the de facto platform for performing transactions between IoT devices. The team behind IOTA believes the potential use cases don't stop there.
Platform features
The developers of the project believe that their distributed ledger can provide digital identity for everyone, lead to usage-based car insurance policies, pave the way for cutting-edge smart cities, enable seamless global trade and prove the authenticity of products.
Uniqueness of IOTA:
| Tangle | This technology aims to preserve the ability of the blockchain to perform secure transactions. The only difference is that it gets rid of the concept of blocks. |
| Transaction verification | New transactions are verified by validating two previous transactions from another node - and this is a new approach as it means the size and speed of the network will be directly related to how many people use the platform. |
Finally, IOTA has distinguished itself from many other crypto competitors by forging a high-profile partnership with automaker Volkswagen and helping the city of Taipei with smart projects.
Where can I buy tokens?
Many people prefer to buy MIOTA on the following exchanges:
- Binance
- Bitfinex
- OKEx
According to the project, a number of trading pairs are available, linking the token with bitcoin, ethereum, stablecoins and fiat currencies, including the Japanese yen, euro, pound and dollar.