What is IOTA coin, How does it work from other currencies.
January 16, 2018
IOTA is stands for Internet of Things Application. It has a “TANGLE”, at its core for which like Bitcoin IOTA Coin is a new cryptocurrency, next generation public distributed ledger that uttilizes a novel invention, a revolutionary new IOTA is a cryptocurrency designed for the Internet of Things. IOTA could become the standerdized currency of the so it called Internet of Things. The Tangle in IOTA is a new data structure based on a Directed A cyclic Graph, The digital currency market continues to grow for which IOTA is one of several cryptocurrencies making waves at the moment .. As such it has no Blocks, no Chain, also no Miners. Because of this radical new architecture. Compared to other Blockchains the things in IOTA work quite differently.
As the blockchain cryptocurrencies which get slower with increased numbers of users but The remarkable result is that in IOTA, as the number of users increases the network transaction speed increases . There is no Fees to make a transaction because It also eliminates the need for users to pay miners for doing the proof of work because they do it themselves.
How do I buy Iota:?
Like other cryptocurrencies you were buying., You can buy Iota by using something called a crypto exchange. But the main problem is you can only trade it for another cryptocurrency, it is not available to buy directly with traditional cash. So if you want to buy some IOTA, you 1st need to have some other currency like Bitcoin, Ethereum etc
Coinbase, Blockchain.info and Xapo are some of the most popular options for buying, But you can then trade them on certain crypto exchanges for Iota. Bitfinex and Binance are currently only two exchanges with significant trade volume of Iota.
The values of IOTA are volatile with the ability to droop as quickly as they shoot up so it should be very careful of anyone thinking of investing in Iota or any other cryptocurrencies And investors are frequently attacked by hackers and other criminals who seek to steal their crypto cash online.