IOTA Hits Market Cap of $3.74 Billion (MIOTA)

IOTA (CURRENCY:MIOTA) traded 0.2% lower against the U.S. dollar during the twenty-four hour period ending at 21:00 PM ET on October 13th. One IOTA coin can currently be purchased for $1.35 or 0.00002341 BTC on popular cryptocurrency exchanges. IOTA has a total market cap of $3.74 billion and approximately $84.15 million worth of IOTA was traded on exchanges in the last day. During the last week, IOTA has traded up 5.2% against the U.S. dollar.

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

  • Poseidon Network (QQQ) traded up 8.9% against the dollar and now trades at $0.0219 or 0.00000038 BTC.
  • VITE (VITE) traded 0.9% higher against the dollar and now trades at $0.0837 or 0.00000145 BTC.
  • Obyte (GBYTE) traded 4.3% lower against the dollar and now trades at $23.96 or 0.00041657 BTC.
  • IoT Chain (ITC) traded 1.7% lower against the dollar and now trades at $0.0585 or 0.00000102 BTC.
  • HYCON (HYC) traded up 24.9% against the dollar and now trades at $0.0003 or 0.00000001 BTC.
  • TrustNote (TTT) traded down 0% against the dollar and now trades at $0.0000 or 0.00000000 BTC.

IOTA Coin Profile

IOTA (CRYPTO:MIOTA) is a Tangle coin that uses the

Directed Acyclic Graph (DAG)

hashing algorithm. Its genesis date was July 17th, 2016. IOTA’s total supply is 2,779,530,283 coins. 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. The official message board for IOTA is forum.iota.org.

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 GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy IOTA using one of the exchanges listed above.

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