What is IOTA Crypto Currency?A brief description of IOTA.
IOTA enables companies to explore new business-2-business models by making every technological resource a potential service to be traded on an open market in real time, with no fees. The main innovation behind IOTA is the Tangle, a revolutionary new blockless distributed ledger which is scalable, lightweight and for the first time ever makes it possible to transfer value without any fees. Contrary to today’s Blockchains, consensus is no-longer decoupled but instead an intrinsic part of the system, leading to decentralized and self-regulating peer-to-peer network.
The purpose of IOTA
High scalability, no mining, no blocks, no difficulty, no transaction fees, Trustless transactions between parties, Freedom of payments, Counterfeiting impossible, Fraud resistant, No single point of failure, No % based transfer costs, free to hold
In this paper we analyze the mathematical foundations of IOTA, a cryptocurrency for the Internet-of-Things (IoT) industry. The main feature of this novel cryptocurrency is the tangle, a directed acyclic graph (DAG) for storing transactions. The tangle naturally succeeds the blockchain as its next revolutionary step, and offers features that are required to establish a machineto-machine micropayment system. An essential contribution of this paper is a family of Markov Chain Monte Carlo (MCMC) algorithms. These algorithms select attachment sites on the tangle for a transaction that has just arrived .
More information can be found in the IOTA whitepaper https://iota.org/IOTA_Whitepaper.pdf
Other IOTA facts
- Trading symbol: MIOTA
- Governance: Semi-centralized
- Open source: Yes
- Product status: Fully working product
- Consensus method: Tangle
- Emmission rate: No new tokens created
- Transactions per second: 112
- Total Supply: 2,779,530,283
- Release date: 2015
Usefull IOTA links
- IOTA’s Website
- IOTA pricing data & fundamental IOTA information
- IOTA’s Website
- IOTA official blog
- IOTA’s Bitcointalk Forum
- IOTA’s Reddit Forum
- IOTA’s block explorer
- IOTA’s Alexa site stats
- IOTA’s official forum: Unfortunately we don’t have this data available.
- IOTA’s Github code repository:
- IOTA’s roadmap:
- IOTA’s team page: https://forum.iota.org/t/current-publicly-revealed-iota-foundation-members/2280
- IOTA’s whitepaper: https://iota.org/IOTA_Whitepaper.pdf