IOTA
Current price
$0.0451
−7.39%24h
LiveUpdated 35s ago
TodayIOTA drops 7.4%, trailing the market.
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View as table
| Time | Price |
|---|
Change by period
- 1 hour0.00%
- 24 hours−7.39%
- 7 days−16.94%
- 30 days+8.52%
- 1 year−68.30%
IOTA's move in context
Lagging the market today
−7.39% today against −3.26% for the market as a whole, a gap of 4.1 points. A gap this wide suggests something specific to IOTA may be moving it, not just the market mood.
Trend has turned
−16.9% over 7 days and +8.5% over 30 days: the last week went against the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About IOTA
Overview
IOTA is a revolutionary cryptocurrency designed specifically for the Internet of Things (IoT) ecosystem. Its core mission is to facilitate seamless machine-to-machine transactions without the need for intermediaries, thus promoting efficiency and lowering transaction costs. Unlike traditional blockchain systems, IOTA employs a unique technology called Tangle, which distinguishes it from conventional cryptocurrencies by enabling fast, feeless transactions. This makes it particularly suitable for microtransactions, which are essential for the IoT environment where devices frequently transact in small amounts. IOTA's architecture aims to address the challenges of scalability and high transaction fees, providing a foundation for a thriving digital economy based on connected devices.
Technical Features
IOTA's most notable technical feature is its consensus mechanism, which operates without miners. Instead, it employs a directed acyclic graph (DAG) architecture known as Tangle. In Tangle, each transaction verifies two previous transactions, thereby eliminating the need for a centralized authority. This structure enhances security and scalability as the network grows. IOTA also incorporates a unique cryptographic approach, using the Winternitz one-time signature scheme to ensure the integrity and security of transactions. The absence of fees allows for micropayments, which are pivotal for IoT applications. Furthermore, IOTA's framework supports the development of smart contracts, allowing developers to create decentralized applications (dApps) that operate efficiently on the Tangle network.
Use Cases
The primary use cases for IOTA revolve around the burgeoning IoT sector. It acts as a backbone for various applications such as smart cities, supply chain management, and mobility solutions. In smart cities, IOTA can power a range of devices, enabling efficient data sharing and real-time decision-making. In supply chain management, IOTA's ability to facilitate data integrity and traceability enhances transparency and trust among stakeholders. Additionally, IOTA's platform is poised to play a significant role in the development of decentralized finance (DeFi) applications by offering an infrastructure for trustless transactions and integrated smart contracts. IOTA has also been explored for applications in the energy sector, where peer-to-peer energy trading could become a reality.
Development Background
IOTA was founded in 2015 by David Sønstebø, Dominik Schiener, Sergey Ivancheglo, and Sergei Petkevich, with the aim of enabling secure transactions for the rapidly evolving IoT space. The IOTA Foundation, a non-profit organization, plays a crucial role in the protocol's ongoing development and ecosystem expansion. Since its inception, IOTA has witnessed significant milestones, including partnerships with major corporations such as Bosch and Volkswagen, signaling strong industry interest. However, the project has also encountered challenges, including security breaches and network outages that have prompted ongoing refinements in its architecture and governance model.
Community and Ecosystem
The IOTA ecosystem thrives on a vibrant community that comprises developers, researchers, and enthusiasts contributing to various initiatives. The IOTA Foundation actively supports developer engagement through grants and programs, promoting innovation and the creation of dApps. Various collaborative projects and partnerships have emerged, including those focused on sustainability and renewable energy. Additionally, IOTA has built an extensive network of integrations with various platforms and services, including data marketplaces and IoT devices, which enhances its practical applications and encourages broader adoption.
Future Potential
The future potential of IOTA is promising as the demand for IoT solutions continues to grow. Upcoming developments include advancements in the Chrysalis upgrade, which aims to improve network performance, scalability, and usability. IOTA's focus on interoperability with other blockchains and integration with Ethereum's smart contract capabilities augurs well for its role in the broader blockchain ecosystem. The project's roadmap also emphasizes enhancing security measures and exploring novel applications for industrial sectors. Given the increasing push towards automation and connectivity, IOTA's innovative approach places it in a favorable position to capitalize on the expanding IoT market in the coming years.
IOTA market
- Position by market cap among the coins we track.
- #127
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $193.94M
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $0.0444High $0.0492
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $5.25
- Now 1% of itReached 19 Dec 2017 · Needs +11,541% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 4.3B IOTA
- 93% of max
- Coins that exist now and can be traded.
- Every coin created so far, minus any destroyed, including coins that are locked up.
- 4.6B IOTA
- Every coin created so far, minus any destroyed, including coins that are locked up.
- The most coins that can ever exist. Some coins have no limit.
- 4.6B IOTA
- The most coins that can ever exist. Some coins have no limit.
IOTA converter
1 IOTA = $0.0451
