Today we have prepared an article about the cryptocurrency IOTA (MIOTA). This cryptocurrency was introduced on 11 June last year by founder David Sønstebø. It is referred to as the third generation cryptocurrency (for interest, Iota is the ninth letter in the Greek alphabet). Iota has been here for some time, but it did not come to people’s awareness until June this year when it was added to the Bitfinex stock exchange. However, the real attention came up to 15 July, when you could buy one coin of this cryptocurrency for 15.6 cents US dollars and 17 August, a month later, the price was already $ 1.08. Yes, you are reading correctly. Iota made a wonderful appreciation at that time.
What is Iota interesting and different? IOTA does not use the classic Blockchain, but its own invention, Tangle. Tangle is much less demanding for computing performance and the best thing is that the transactions of this cryptocurrency are fast and completely free. IOTA’s vision is to become the Internet of Things (IoT). In other words, thousands of electrical appliances that are connected to the Internet, will send more information than people in the future.
In this time, there is no cryptocurrency with the strong point of microtransactions (sending money in small volumes). These microtransactions overload the network at any time, and consequently it is spam for several days (for example, the coinexchange.io). Cryptocurrency IOTA has solved this problem and today is a major part of the Internet. Over time, the value of Iota will rise due to advancement in techonology (estimated to be $ 50 billion in the next decade!). Maybe that’s the reason, why in June of this year, the huge company Outlier Ventures Capital has invested a 7-figure amount in this ambitious project.