Iota is number twelve in the coinmarketcap.com rank of 400 cryptocurrencies by market value, is not tied to the blockchain. Rather than a chain of transaction blocks, Iota uses a tree of transactions called a tangle.
Iota takes its name from the Internet of Things (IoT) where it finds promise for multiple applications. Iota confirms each individual transaction by linking with two other transactions in its tangle. No mining is necessary because validators of transactions are rewarded with the ability to process a new transaction.
History of IOTA
IOTA was introduced way back in 2015, as a quantum-resistant distributed ledger protocol. With the pure objective of IOTA being to guarantee an anytime-anywhere accessible decentralized payment system, be it micro or nano, it offers solutions that warranty data integrity without any compromise on security.
The challenges of blockchain technology being data accessibility also came in packages. Those packages included slower transactions but higher costs. IOTA ensured these redundant costs are eliminated along with the advantage of the higher speed of transactions.
This prized digital currency offered users the advantage of fixed money at no inflationary cost.
The avant-garde technology of IOTA has made it a front runner in next-generation solutions. Breaking the barriers of conventional methodologies of the transaction and offering innovative solutions for the future, IOTA features in the top-ranked choices of users who aim to match pace with the progressive cryptocurrency trends in trading.
Institutions across the globe have emerged showing active interest to sign a partnership with IOTA.
Going by the predicted estimates, there would be 26 billion objects empowered by the revolutionary IoT constituting $4 trillion to $11 trillion of the global economy. The future is bright for IOTA as organic adoption gains momentum since the DLT network assimilates solutions based on real-life applications.
Where to Buy IOTA From?
- Open an online account.
IOTA is a relatively small project, so not all exchanges have listed the digital asset for investors to buy and sell. The largest U.S based exchange that gives users access to IOTA is eToro. eToro has several great features and is a top crypto exchange for several types of investors. The platform also offers dozens of other cryptocurrencies, as well as unique features like CopyTrading large investors.
- Make your purchase.
All exchanges accept bitcoin for a deposit, so bitcoin can be used as the source of funds in order to purchase MIOTA. You can also fund an eToro account with other altcoins or a bank transfer. Once your account is funded, simply move the funds into USD and then select the IOTA/USD pair. After selecting the pair, go ahead and choose the amount you’d like to purchase and set either a market or limit buy order.