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IOTA MIOTA

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1. Summary

Fundamental Rank
96
Developer Rank
100
Social Rank
99
Coinrank
99
Price
$0.77 -1.9%
Market Cap
$2.14B (#34)
Supply
2.78B / 2.78B
Description

IOTA stands for Internet of Things Application, and it is a cryptocurrency that was created to help solve some of the scalability problems that are present in cryptocurrencies such as Bitcoin and Ethereum for example.

In order for the Internet of Things (IoT) to work within a blockchain, the network needs to be able t...

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IOTA stands for Internet of Things Application, and it is a cryptocurrency that was created to help solve some of the scalability problems that are present in cryptocurrencies such as Bitcoin and Ethereum for example.

In order for the Internet of Things (IoT) to work within a blockchain, the network needs to be able to handle millions of transactions, and this is why IOTA introduces The Tangle.

IOTA’s distributed ledger is known as The Tangle. It is required to verify transactions; however, it does not require a lot of people who are battling to solve cryptographic puzzles in order to create blocks.

For every transaction to take place, it needs to approve two transactions. This means that dedicated miners are not a requirement in The Tangle, and the more transactions that take place, the quicker it becomes at processing them. Furthermore, it has no transaction fees, and it can be used to process transactions for almost nothing as a result.

The MIOTA Token Explained

The MIOTA token is used to transact value on the IOTA distributed ledger. The platform itself functions as a bridge between IoT devices, and the network can handle data transmission to and from connected devices in the IoT ecosystem. The network itself can also execute complex, multi-device smart contracts directly, and to do this it relies on The Tangle, however, for the Tangle to work, it requires and uses MIOTA.

Features of IOTA

The Tangle is also known as the Directed Acrylic graph and is a technology that aims to retain the blockchain’s ability to secure transactions, by throwing away the notion of blocks.

Transactions are validated by approving two previous transactions, so there are no blocks and no miners. When you send an IOTA transaction, you validate two other transactions, and this allows IOTA to overcome the cost of scalability limitations of blockchain technology. The IOTA network by itself is built for the Internet of Things (IoT) with tamper-proof data, feeless microtransactions as well as low resource requirements.

Founders of IOTA (MIOTA)

Discussing the founders of IOTA, it was founded by Dominik Schiener, David Sonstebo, Serguei Popov, and Sergey Ivancheglo. Ever since its inception, the project evolved, and currently has team members across numerous countries around the globe.

Dominik Schiener and David Sonstebo are the co-chairmen of the board of directors.

Serguei Popov is a board member and fills the role as the director of research, while Sergey Ivancheglo, unfortunately, resigned from the project back in 2019, however carries on as an advisor.

2. Price

$MIOTA / USD

2.1. Market Performance

How does IOTA's (MIOTA) performance compare to assets of a similar market capitalization?

30 Day Return

-16%

MIOTA

-17%

Similar Market Cap

60 Day Return

-58%

MIOTA

-46%

Similar Market Cap

1 Year Return

232%

MIOTA

835%

Similar Market Cap

3. Developer Activity

We're monitoring 100 Github repos for the IOTA project.

Commits vs. The Market

  • Past 4 weeks: 587 commits vs. an average of 58
  • Past 12 weeks: 2,864 commits vs. an average of 244
  • Past year: 14,065 commits vs. an average of 1,512

Top Repos by Code Commits

Past week 119
Past 12 weeks 304
Past year 1315
Past week 0
Past 12 weeks 1
Past year 1269
Past week 33
Past 12 weeks 271
Past year 1086
Past week 14
Past 12 weeks 199
Past year 891
Past week 4
Past 12 weeks 51
Past year 723
Past week 7
Past 12 weeks 195
Past year 716
Past week 13
Past 12 weeks 74
Past year 632
Past week 22
Past 12 weeks 156
Past year 614
Past week 109
Past 12 weeks 253
Past year 606
Past week 0
Past 12 weeks 1
Past year 577
Past week 0
Past 12 weeks 169
Past year 527
Past week 1
Past 12 weeks 72
Past year 389
4. Social Activity
Reddit Subscribers (Iota) 136,216
Active Reddit Users 438
Telegram Users 6,739
Twitter followers 194,097
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