IOTA is a virtual currency that stands out from others for having the basis of its operation in the Directed Acyclic Graph (DAG) with an architecture called Tangle, while the most famous ones such as bitcoin or ethereum do so through blockchains.
This cryptocurrency, also known as MIOTA, is designed to be used as a means of payment with unlimited scalability (transactions) and across all devices that are part of the internet of things no additional fees.
Unlike the blockchain, in this new scheme each of the records or users has a unique timestamp and must be subject to a cryptographic signature consisting of 81 charactersLikewise, each transaction is made through this private key, which does contain details such as the sender, recipient and amount.
The main characteristics of IOTA are: they have no scalability limits, so unlimited transactions can be made; the system adjusts to usage and popularity without being highly volatile; does not require mining or miners; and has no extra fees for trading.
According to information from Binance, this digital currency currently has 3.25B units created.
While the debate becomes more heated every day about the convenience or not of its use, iota is trading this day at 10:30 hours (UTC) at 0.224849 USD, which represents a change of -0.99% regarding the last 24 hours and a variation of 0.47% with reference to its value reached in the last hour.
In terms of its market capitalization, it has maintained the position #106 among digital currencies.
Created by German developers, the digital currency uses a technology or architecture called Tangle focused on the Directed Acyclic Graph (DAG) which, among other things, is characterized by being friendlier, since transactions can be made with just having a cell phone and a computer, while it does not consume as much energy as a blockchain network.
Furthermore, these operations can be carried out by users who operate with IOTA and there are no commissions for operations because its users must make other transactions before materializing their own.
IOTA technology guarantees that users of this cryptocurrency have a more reliable environment than the one that the blockchain network can provide, since the latter allows transactions to be made asynchronously, orderly and slowly for security reasons; while the Tangle allows parallel operations.
The maximum supply that IOTA has is 2 thousand 779 million 350 thousand 283 tokens and The goal is to get microtransactions made up to $0.001 without having to pay payment processing fees. In each operation, the “seed” is required, which is a randomly generated 81-character code that prevents the theft of funds.
Among its strengths is its resistance to quantum computing, millions of times faster than that known today; However, one of its weaknesses is security, since in 2017 it faced a hack that caused a break in its price and a loss in transaction volume.
Virtual currencies are currencies that do not physically exist and, unlike currencies such as the dollar, the euro or the peso, they are not regulated by any institution and do not require intermediaries in transactions.
For this reason, they are regularly not viewed favorably by the formal market and are accused of being unreliable, volatile, promoting fraud, not having a legal framework that supports their users, and allowing the operation of illegal activities, among others.
However, little by little they have opened the way to such a degree that companies, millionaires and even States have encouraged or legalized its use.
These cryptocurrencies work through cryptographic encryption that guarantees the security of transactions., as well as control of the creation of its currencies. To carry out transactions, Cryptocurrencies use a decentralized database, blockchain, or shared ledger.
Currently there are different cryptocurrencies in this unregulated market, however, the pioneer was Bitcoin, created in 2008, with it others emerged such as litecoin, ethereum, bitcoin cash, ripple, dogecoinsome of the most popular.
One of the richest men in the world, Elon Muskhas made comments in favor of cryptocurrencies such as bitcoin and dogecoin, even temporarily accepting the digital currencies at his electric car company Tesla, which has triggered the increase in their cost.
To buy any of the cryptocurrencies in this unregulated market you have to go to specialized pages.
It is worth mentioning that the value of each of these digital currencies depends on supply and demand, as well as the commitment of the users themselves, which can cause abrupt changes.
This means that the more people are interested and want to get hold of a certain cryptocurrency, the higher its value will be and vice versa.
However, whoever invests in this type of digital assets must be very clear that this form brings with it a high risk to capitaljust as there may be an increase, it may also unexpectedly crash and wipe out the savings of its users.
