IOTA Price Up 25.3% This Week (MIOTA)

IOTA (CURRENCY:MIOTA) traded up 2.9% against the dollar during the one day period ending at 20:00 PM E.T. on November 25th. IOTA has a market capitalization of $4.35 billion and $223.49 million worth of IOTA was traded on exchanges in the last 24 hours. One IOTA coin can now be bought for $1.56 or 0.00002654 BTC on popular cryptocurrency exchanges. During the last week, IOTA has traded 25.3% higher against the dollar.

Here is how related cryptocurrencies have performed during the last 24 hours:

  • VITE (VITE) traded 6% higher against the dollar and now trades at $0.12 or 0.00000204 BTC.
  • Obyte (GBYTE) traded 0.8% higher against the dollar and now trades at $41.76 or 0.00070848 BTC.
  • Poseidon Network (QQQ) traded 0.3% higher against the dollar and now trades at $0.0137 or 0.00000023 BTC.
  • IoT Chain (ITC) traded down 12.7% against the dollar and now trades at $0.0756 or 0.00000128 BTC.
  • HYCON (HYC) traded up 5.1% against the dollar and now trades at $0.0002 or 0.00000000 BTC.
  • TrustNote (TTT) traded down 0% against the dollar and now trades at $0.0000 or 0.00000000 BTC.

IOTA Profile

IOTA is a Tangle coin that uses the

Directed Acyclic Graph (DAG)

hashing algorithm. Its launch date was July 17th, 2016. IOTA’s total supply is 2,779,530,283 coins. The Reddit community for IOTA is /r/Iota and the currency’s Github account can be viewed here. IOTA’s official website is www.iota.org. 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 possible to purchase alternative cryptocurrencies such as IOTA directly using US dollars. Investors seeking to trade IOTA should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase IOTA using one of the exchanges listed above.

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