Why Invest In IOTA? Everything You Need To Know

What is IOTA (MIOTA)?

IOTA (MIOTA) is a different kind of cryptocurrency. Unlike competitors, IOTA doesn’t utilize blockchain technology to accomplish its tasks. Instead, the platform relies on various Internet-of-Things (IoT) applications. As such this platform has unmatched scalability and endless use cases in the market.

Notably, the co-founders of the project, Sergey Ivancheglo, Serguei Popov, David Sønstebø, and Dominik Schiener didn’t originally plan to host a cryptocurrency or even a decentralized network for that matter. Instead,  IOTA started off as an IoT hardware chip manufacturer. These systems could record and execute transactions between machines and devices within the Internet-of-Things (IoT) ecosystem.

After recognizing the potential of an IoT network, the firm changed its focus to expanding the decentralized network aspects of this technology. IOTA allows developers to further explore use cases scenarios and different functionalities of IoT and their interfaces. Consequently, IOTA plays a pivotal role in the further adoption of this revolutionary technology.

What Problems Does IOTA Solve?

IOTA (MIOTA) attempts to rectify some glaring issues facing the IoT and blockchain sectors. For one, it provides developers an alternative to blockchain networks for the programming of Dapps. This diversification allows for a better distribution of information.

In its current state, IoT data is very compartmentalized. There is very little exchange in the way of data sharing. However, IOTA introduces standards and provides a reliable and affordable way for all of these devices to leverage other sensors in the network efficiently, This strategy opens the door for some pretty amazing functionalities.

For example, imagine if your smart fridge was able to sense that you were running low on milk. The fridge could then send a request for another gallon either to your smart car or the grocery store’s ordering platform. From there, your smart car could cruise over to the store and pick up your order, or the store could send a drone with your order directly to your doorstep. All of this and more is possible through the advancement of IoT networks. Best of all, you could track everything directly from your smartphone.

MIOTA

MIOTA is the main utility token within the IOTA sphere. This cryptocurrency is used to account for transactions, pay fees, and initiate smart contracts. There will be a total of 27 quadrillion IOTA issued over the life span of the project. In essence, IOTAs structure makes its expandability limited only by the flexibility of its programming languages.

Benefits of Investing in IOTA (MIOTA)

There are a ton of benefits users get when they invest in IOTA. For one, the design of the network eliminates all transaction fees. Additionally, the network is very fast. Combined, IOTA has near-unlimited scalability. It’s also far more energy-efficient than blockchain-based cryptocurrencies.

How to Buy IOTA

IOTA is available at most exchanges today. This popular altcoin has proven to be extremely resilient in terms of tradability. IOTA consistently ranks in the top 50 cryptocurrencies in the world in terms of market capitalization. As such, you can find IOTA on the world’s most popular exchanges including Binance.

• Here is a Forbes article explaing it in more detail-https://www.forbes.com/sites/jonathanchester/2017/10/16/what-if-you-could-have-bitcoin-without-the-problems-of-a-blockchain-iota-may-be-the-solution/?sh=214b29e639fd

You should never invest more money into cryptocurrencies than you can afford to lose.

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