Home » Blockchain » What is the IOTA coin and how does it work?

What is the IOTA coin and how does it work?

by Financial Economy

IOTA coin; It is a scalable, decentralized, modular and transaction fee-free crypto currency that operates for the Internet of Things (IoT) industry. Among the features of this cryptocurrency, the technology called Tangle stands out. Detailed information about the IOTA coin is included in the rest of the content. For information on BUSD (Binance USD), you can check out here.

What is the IOTA coin and how does it work?

The rise of Bitcoin in recent years has also positively affected and led to altcoins to rise. One of these altcoins, IOTA, was founded in 2014 by 3 partners with “Internet of Things” propaganda and is an organization under the IOTA foundation of Germany.

IOTA differs significantly from other altcoins with its rise and features such as speed, security and free transactions brought by Tangle technology. As soon as Bitcoin reached its ceiling, the market value of IOTA also increased.

The aim of IOTA is to make every object connected to the internet, such as smartphones, tablets, computers and smart watches, more useful with mutual communication. Of course, this definition is open to interpretation and is a very broad one. We will see together how much IOTA can realize or realize its dream of using objects more beneficially.

Can IOTA mining be done?

While there is the opportunity to mine cryptocurrencies within the blockchain, there is no such thing in IOTA. As such, some positive and negative features of this situation emerge. That is, the fact that IOTA cannot be mined means that the amount of IOTA in the market does not change suddenly. This causes no sudden fluctuations in the value of IOTA. On the other hand, the inability to mine IOTA poses a negative situation for crypto money miners.

For details: https://en.wikipedia.org/wiki/IOTA_(technology)

Related Posts

Leave a Comment