iota token

What Is The IOTA Token?

in Use Crypto by

Introduction to IOTA Token

IOTA is an extremely original project both in terms of ideas and implementation. And what pleases most about this project is the developers. They make every effort to develop the project. Among a large number of blockchain projects that “flooded the entire planet”, closer to the top ten, is the IOTA Coin cryptocurrency, whose work is based on another technology –Tangle. Today, we decided to make out for you the prospects of this project, and look into the “future” of the Internet of things.

Where does it come?

The goal of the project is a developed infrastructure where various devices will conduct transactions between each other, paying for services, access or resources. We are talking about “smart cities”, in which there are “smart homes”, “smart appliances” and “smart gadgets.” All this should interact with each other, making our life more efficient and comfortable. Moreover, it is assumed that transactions between devices should be carried out in real time, in free competition and without commissions. The project started at the end of 2015 when developers managed to collect 1337 BTC as part of the ICO. Then 2,779,530,283 tokens were issued, and since then there have been no additional issues. In general, the project developers do not plan to carry them out.

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IOTA scalability

IOTA is a grandiose project that should revolutionize the “Internet of Things”, allowing all devices connected to the network to perform microtransactions without a commission. This communication protocol works smoothly, and it is obvious that IOTA has a bright future. Since the project is only at the beginning of its journey, you can still successfully invest in this cryptocurrency, the rate of which has not yet reached its peak.

Is it worth investing?

Among the partners of the IOTA project you can find such major representatives of the world of science and business as the Imperial College of London, the Norwegian Ministry of Health, Deutsche Telekom, Bosch, Microsoft, PricewaterhouseCoopers, Accenture, Fujitsu, and a number of famous universities around the world. Therefore, it is not surprising that the value of the coin is increasing day by day. At the moment, one IOTA token costs $ 4.02, and the total capitalization is $ 11,174,045,281, providing IOTA fourth place in the ranking of the 100 most successful cryptocurrencies.

How to buy IOTA

IOTA can be purchased for Bitcoins, dollars, and broadcasts on Bitfinex, as well as on Binance, IOTA Exchange and Bit520. Anyone wishing to withdraw IOTA coins from the exchange can use the services of a paper wallet since this is the simplest solution for the long-term storage of cryptocurrencies. Technically savvy users can install a desktop wallet. We advise you not to use mobile and web wallets, as they are still under development.

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IOTA wallets

Despite the fact that the project is developing technically quite rapidly, in terms of user convenience, it is a little behind. Although it is difficult to blame him, he was created for very different purposes. Many buyers have IOTA accounts on stock exchanges since at the moment there are no user-friendly wallets. But it is not very safe.

Review recap

If you are interested in this project, then you can read the instructions for its purchase in this article, and the instructions for using the wallet for IOT are here. You can follow us on social networks facebook, google + and twitter. That’s all, thanks for staying with us.

I’m a freelance writer and full-time curious person. My main interests are philosophy, politics, art, culture, science, and how they’re all interlinked. When I’m not writing, I’m fronting a band, producing records, and making videos. I’m also currently working on launching a YouTube channel that will focus on culture and politics. I think blockchain technology is fascinating because of the huge potential it has to revolutionise not only the financial sector, but society as a whole.