IOTA Review: A Complete Guide To $MIOTA Cryptocurrency in 2024

€ 0.2494

-0.3588102456
Dernière mise à jour à 12:02:05 UTC
Market Cap
€ 781,490,333.84
Fully Diluted Market Cap
€ 781,490,333.84
Volume
€ 4,536,336.66
Circulating Supply
3.13B IOTA

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Last updated at 12:15:05 UTC

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Welcome to our comprehensive review of the IOTA cryptocurrency (also known as $MIOTA).

First things first, we need to say that IOTA isn’t just any cryptocurrency. It is the flagship project of the Internet of Things (IoT) ecosystem. IOTA has a special goal of helping to provide a fast and secure way for machines and other devices to interact with one another. To achieve this, the group behind this digital asset has developed its own technology called Tangle.

In this guide, we will review everything you need to know about this project: how it works, why it was created, where you can invest in IOTA, and how you can anticipate its future value, although that remains quite complex!

What is IOTA?

iota crypto logo

IOTA is a digital technology that emerged in 2015. Today the IOTA price in USD is 0.148876. The project was created by IOTA founder David Sønstebø along with Sergey Ivancheglo, Dominik Schiener, and Serguei Popov.

The goal behind the launch of IOTA was to find an alternative to the limitations of the cryptocurrency market at the time. Scalability, scalability, transaction fees… there were quite a few issues to target.

To achieve its goal, IOTA developed a technology called Tangle (based on the mathematical model of graph theory). This technology replaces the traditional blockchain technology (Bitcoin, Ethereum, etc.) as we know it. The result is quite surprising. Tangle allows:

  • Increasing transaction throughput;
  • Eliminating the need for miners. Each user wishing to make a transaction must validate two previous transactions on the network.

But in addition to Tangle, IOTA also introduced a new consensus mechanism called the “coordinator”. This mechanism is responsible for ensuring the total security of the network. However, for many investors, this in-house technology is far from the initial message promoted by the cryptocurrency market, namely, decentralization.

The History of IOTA

While the IOTA Foundation was established in 2015, the $MIOTA token was launched in 2017. Initially, the company’s goal was to provide a secure and scalable platform to users interested in the Internet of Things ecosystem, which was booming and still in development.

The vision of the team behind IOTA was straightforward: a world where all devices would be seamlessly interconnected, and entirely securely. However, faced with scalability and blockchain cost issues, the group was forced to find an alternative solution.

That’s where Tangle was born. Today, $MIOTA meets all the needs previously mentioned. The technology is scalable and eliminates miners while significantly reducing transaction fees (the system is self-regulating). It’s the ideal solution for micropayments and other transactions between IoT devices.

Since then, the IOTA project has had quite a journey. In 2017, the IOTA Foundation was created to support network development. Two years earlier, in 2015, the group launched its ICO. It was a real success, raising over $590,000 USD. In 2018, numerous partnerships were formed, and since then, the project has seen increasing adoption.

Why Was IOTA Created?

As explained earlier, IOTA blockchain isn’t really a thing… IOTA is not based on blockchain technology at all, it is based on Tangle, which in turn is based on the mathematical model of graphs. It is a data structure that allows for faster and more efficient transactions than a traditional blockchain.

iota interface

Today, IOTA is represented by the $MIOTA token. You can exchange it (buy, sell, and trade) on multiple trading platforms (but we’ll come back to this later in the article). The IOTA token has a total supply of 2,779,530,283 MIOTA, with no new tokens being created.

The primary use case for $MIOTA is to strengthen and contribute to the development of the Internet of Things (IoT) industry. Indeed, the IOTA network was designed to:

  • Enable communication between machines and objects;
  • Facilitate transparent and secure transactions between these objects.

Let’s take an example to make it more concrete and understandable. A smart home using the network developed by IOTA can automatically settle certain bills, such as electricity, gas, or water. The central computer operates autonomously and interacts with other networks to act independently. But that’s not all… IOTA can also be used in the supply chain. The network ensures the smooth operation of the supply chain, tracks the movement of goods, and guarantees their uniqueness, quality, and deliverability. Ultimately, this allows a company to have a transparent supply chain.

How Does IOTA Work?

IOTA ($MIOTA) is a technology that facilitates microtransactions between machines and devices on the Internet of Things (IoT) network. However, as explained, IOTA crypto does not rely on a traditional blockchain (like other cryptocurrencies). It is based on Tangle, a specially developed technology.

In Tangle, the network self-manages. Each transaction confirms two previous transactions, creating a complete structure that gradually grows and strengthens as more transactions take place. In other words, this means that the more people use IOTA, the more secure the network becomes, and the faster and more efficient transactions are.

As mentioned, one of the interesting features of IOTA is its ability to conduct transactions… offline! Indeed, these transactions are stored and recorded before being confirmed and validated as soon as a device connects to the network. This is why it is an intriguing platform, especially for IoT and interconnectivity enthusiasts!

Where To Buy IOTA Crypto?

Are you interested in investing in IATO crypto ($MIOTA)? Would you like to learn more about it but don’t really know how to get started? In the following content, we will introduce you to three of the best trading platforms where you can buy IOTA.

Binance

Binance, is the world’s number one cryptocurrency exchange and trading platform. On this platform, you can buy, sell, or trade IOTA crypto. Its great strength is being a relatively liquid exchange platform. Therefore, you can easily place your orders without getting stuck! Furthermore, Binance offers many options, such as margin trading, futures trading, staking, and DeFi. To use it, you will need to register, complete KYC (Know Your Customer) verification, and deposit funds. For the rest, it’s pretty standard!

Binance

  • Low fees
  • One of the largest crypto exchanges
  • Fee discount for using native BNB

Bitfinex

Bitfinex is one of the oldest players in the cryptocurrency trading market. Indeed, this exchange platform has been operating since 2012 and it’s well known to a lot of people. It is a user-friendly, dynamic, and secure platform. However, it is slightly less liquid than Binance, so you may have to wait a bit for your orders to go through. Nevertheless, it is a recommended exchange platform if you prefer a clean interface for investing in IOTA.

Bitfinex

  • Comprehensive platform
  • Enhanced security
  • Suitable for experienced traders

Kucoin

Kucoin may be the least known of the three presented here. However, Kucoin is also a historical player in the cryptocurrency market. The interface is user-friendly, and the fees are competitive. Kucoin also has a mobile application to facilitate trading on the go. On this platform, you can position yourself on a good number of pairs, including $MIOTA. Again, you will need to register and complete KYC verification before you can deposit your funds and trade.

KuCoin

  • Wide range of cryptos
  • Advanced Trading Options
  • Competitive fees

So, which platform should you choose? Which platform should you use? Not surprisingly, we recommend using Binance. The platform’s reputation speaks for itself, security measures are serious, and the interface is both dynamic and user-friendly.

However, Tokize does not provide investment advice. We only offer our opinion based on a very personal analysis. If you want to invest in the cryptocurrency market, including IOTA via Binance, Kucoin, or Bitfinex, we recommend conducting your own research to understand the real IOTA value for investment.

IOTA Fear and Greed Index

Updated:: 25 February 2024

Now: 78 Extreme Greed

Now: 78 Extreme Greed

Yesterday: 78 Extreme Greed

Last Week: 70 Greed

Is IOTA a Good Investment in 2024?

If you’re wondering about our IOTA prediction and asking questions like ‘will IOTA go up in value?’ The answer is not clear-cut. Like many digital assets, IOTA has experienced ups and downs. Price fluctuations can affect investor confidence. However, the project is solid. In operation since 2015, the IOTA Foundation continues to optimize and improve its technology to meet expectations. In addition, new partnerships and increasing adoption of the cryptocurrency market contribute to its growth.

Indeed, Web 3.0 is becoming increasingly popular. While the technology may have been somewhat immature a few years ago, today, cryptocurrencies, blockchain, and the Internet of Things (IoT) are increasingly entering everyday vocabulary. However, there is still much progress to be made in terms of adoption, democratization, and security!

From the perspective of IOTA, Tangle technology is somewhat revolutionary. Unlike traditional blockchain networks, it allows for increased scalability, scalability, and relatively low transaction fees. Therefore, investors, developers, and businesses are naturally turning to it. New applications are developed on the network every day, and more and more developers are exploring the use cases of IOTA!

However, competition is increasing, and more similar, competing projects are emerging. As a result, it can be difficult to navigate and determine which token to invest in. Finally, like all cryptocurrencies, IOTA could face regulatory challenges in the future, as governments and financial institutions seek to regulate the space.

IOTA: Our Final Opinion

In our opinion, IOTA crypto ($MIOTA) has the potential to become a revelation in the IoT sector, and IOTA’s future could be bright. However, many criticisms have emerged, especially regarding the project’s lack of decentralization, which is a hindrance for many investors. In the long term IOTA forecast, this could slow its growth and adoption.

It is important to note that, like any investment, there are risks. The cryptocurrency market is very volatile and subject to sudden fluctuations, so investing in IOTA, or any cryptocurrency for that matter should be approached with caution and a long-term perspective. To be sure that you want to invest in this token, we recommend conducting your own research. Feel free to browse the company’s Telegram and Discord groups, read the Whitepaper, and inquire on social media about the usefulness of IoT (Internet of Things) and how the application of this technology could revolutionize everyday life. It’s all very much linked!

  • Strong growth potential as technology continues to develop and partnerships expand;
  • Unique Tangle technology allows for increased scalability and security compared to traditional blockchain networks;
  • A strong community and development team.
  • Past volatility that could return in the future;
  • Competition from other cryptocurrencies and technologies in the IoT and machine-to-machine communication space;
  • Regulatory challenges that could impact adoption and value.

General information

What is IOTA?

IOTA is the parent company of $MIOTA. It’s a token specialized in IoT, the Internet of Things. You can trade it on various platforms, including Binance.

What is IoT, the Internet of Things?

IoT (or the Internet of Things) is a comprehensive technology aimed at connecting machines, thereby automating certain everyday processes.

Where Can I Buy IOTA Crypto?

You can buy IOTA ($MIOTA) on well-known trading platforms like Binance, Bitfinex, or Kucoin.

About the author

Sam Town

A writer from the north of England, I've been fascinated by all things cryptocurrency since the early days of Bitcoin. I've written countless articles in the crypto space over the years, contributing to various websites in the process. I'm always reading and forever following the trends and expanding my knowledge so that I always have more to share!