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About IOTA

“Redefining trust, value, and ownership”

IOTA is a cryptocurrency built on the vision of enabling all connected devices through a trustless verification system, incentivizing devices to make their data available in real-time.  Given that the number of connected devices is expected to reach 75 billion by 2025, the need for an overarching network to manage this increasingly interconnected world has become more and more urgent. Due to this problem still being unaddressed, we have already begun to see network congestions in our existing digital infrastructure. Over the next five years, global IP traffic is expected to increase five-fold – yet, broadband speeds are only expected to double in this same period. How will our existing systems handle this influx?

It is just not possible for all the centralized cloud silos to account for the growing world wide web. We simply do not possess the means. This conundrum was what spurred the IOTA Foundation and their solution, IOTA.

IOTA, unlike other cryptocurrencies, utilizes a different consensus mechanism called the ‘Tangle’ or the Directed Acyclic Graph (DAG). This means that every time a user sends a transaction, they are confirming two more in the same process, thus making transactions free for everyone. This also means that the larger IOTA becomes, the stronger and faster it will be. Its technology thus looks promising from a technical standpoint.

Because there are so many IOTAs in circulation, each IOTA traded on exchanges is actually 1 MIOTA which is 1 million “IOTAs.” This was done to make it easier to trades since a singular IOTA is so minuscule and meant for nano-transactions between machines. Each traded IOTA on exchanges is actually 1 MIOTA.

ICO Price

The Price per 1 MIOTA at ICO was $0.000179. The ICO was conducted in 2015.

Key Features

IOTA boasts many key features that give it an advantage over its competitors. You can read more about IOTA’s features in detail in their whitepaper.

  • Because of the Tangle, the network grows stronger the more users it has.
  • Infinitely scalable.
  • Feeless.
  • Data-point encryption.
  • Due to its network infrastructure, IOTA is made for micropayments and the internet-of-things.
  • Strong partnerships with industry leaders like Volkswagen, positioning itself as the de facto currency of the internet-of-things.

About the Team

The IOTA project is funded and developed by the IOTA Foundation which boasts a world-class team of developers, entrepreneurs, and analysts. With their own board of directors, supervisory board, executive team, and core developers, IOTA is well-positioned to dominate the digital market in a few years.

The IOTA Foundation is also working closely with industry giants like Bosch, Volkswagen, and Fujitsu to integrate smart cars, connected devices, and data inputs onto the IOTA network.

You can read more about their team on their website.

Price History

IOTA has had a tumultuous price history. After reaching an all-time-high in December 2017 of $5, its price has collapsed to around $0.26 at the time of writing. Although it is one of the best-performing coin relative to ICO price, the price decline has led some investors to be concerned about the long-term future of IOTA. However, regardless of market price, the IOTA Foundation has enough funding to support its development throughout the next decade.

Website and Social Media

IOTA boasts a strong social media presence on Twitter and Reddit along with an active Telegram chat. Dominik Schiener is the co-founder of IOTA and is also quite active on Twitter.

You can also check out their website for any news-related updates on IOTA and where the project is going along with their plans for the future.

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