IOTA is a cryptocurrency 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 created to be used as a means of payment with unlimited scalability (transactions) and through all the 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 3.31B 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 $0.186099, which represents a change of -0.93% regarding the last 24 hours and a variation of -0.9% with reference to its value reached in the last hour.
In terms of its market capitalization, it has maintained the position #114 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.
Digital currencies emerged in 2008 as an alternative to the devaluation of several currencies as a result of the economic crisis of that year.
The first digital asset created was the bitcoin and over time others emerged like litecoin, ethereum, bitcoin, cash, ripple, dogecoinsome of the most popular.
Cryptocurrencies work through a cryptographic encryption that guarantees the security of transactions, as well as control of the generation of your coins .
To make transactions, Cryptocurrencies use a decentralized database, blockchain, or shared ledger.
It is important to mention that cryptocurrencies are digital currencies that do not physically exist and, unlike assets such as the dollar, euro or peso, they are not regulated by any institution and do not require intermediaries in transactions.
The latter has caused cryptocurrencies to not be viewed favorably by the formal market, accusing them of being unreliable, volatile, promoting fraud, not having a legal framework that supports their users, and allowing the operation of illegal activities, among others.
Even so, little by little the way has opened to such a degree that companies, millionaires and even governments have encouraged or authorized its use.
One of the richest men in the world, Elon Musk, has made comments in favor of cryptocurrencies such as bitcoin and dogecoin, temporarily allowing their use in the electric car company Tesla, which triggered, at the time, the increase in their price.
