IOTA Reaches Market Capitalization of $1.82 Billion (MIOTA)

IOTA (CURRENCY:MIOTA) traded 3.1% higher against the U.S. dollar during the one day period ending at 15:00 PM ET on July 22nd. During the last week, IOTA has traded down 6% against the U.S. dollar. IOTA has a total market cap of $1.82 billion and $25.60 million worth of IOTA was traded on exchanges in the last day. One IOTA coin can now be bought for about $0.66 or 0.00002029 BTC on exchanges.

Here’s how other cryptocurrencies have performed during the last day:

  • Poseidon Network (QQQ) traded up 0.8% against the dollar and now trades at $0.0226 or 0.00000070 BTC.
  • VITE (VITE) traded 0.4% higher against the dollar and now trades at $0.0508 or 0.00000157 BTC.
  • Obyte (GBYTE) traded down 1.5% against the dollar and now trades at $21.44 or 0.00066328 BTC.
  • IoT Chain (ITC) traded up 5.5% against the dollar and now trades at $0.0600 or 0.00000186 BTC.
  • HYCON (HYC) traded 2.4% higher against the dollar and now trades at $0.0001 or 0.00000000 BTC.
  • TrustNote (TTT) traded 0% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.

About IOTA

MIOTA is a Tangle coin that uses the

Directed Acyclic Graph (DAG)

hashing algorithm. It was first traded on July 17th, 2016. IOTA’s total supply is 2,779,530,283 coins. The official message board for IOTA is forum.iota.org. IOTA’s official website is www.iota.org. The Reddit community for IOTA is /r/Iota and the currency’s Github account can be viewed here. IOTA’s official Twitter account is @iotatoken and its Facebook page is accessible here.

According to CryptoCompare, “IOTA is an open-source distributed ledger protocol that goes 'beyond blockchain' through its core invention of the blockless ‘Tangle’. The IOTA Tangle is a quantum-proof Directed Acyclic Graph, with no fees on transactions & no fixed limit on how many transactions can be confirmed per second in the network. Instead, throughput grows in conjunction with activity in the network; the more activity, the faster the network. Unlike blockchain architecture, IOTA has no separation between users and validators; rather, validation is an intrinsic property of using the ledger, thus avoiding centralization. IOTA is initially focused on serving as the backbone of the emerging Internet-of-Things (IoT). For a more in depth look at the technical design of IOTA read their https://iota.org/IOTA_Whitepaper.pdf.  The total supply of IOTA is (3^33 – 1) / 2 = 2,779,530,283,277,761 tokens. This value is optimized for ternary computation – it is the largest possible 33-digit ternary number: 111,111,111,111,111,111,111,111,111,111,111 (base-3) = 2,779,530,283,277,761 (base-10) The total IOTA token supply was “minted” on the genesis transaction and will never change. It is now impossible for anyone to “mint” or “mine” new IOTA tokens. IOTA uses the International System of Units (or SI units): “

IOTA Coin Trading

It is usually not currently possible to buy alternative cryptocurrencies such as IOTA directly using US dollars. Investors seeking to acquire IOTA should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy IOTA using one of the exchanges listed above.

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