IOTA (MIOTA)

Machine to machine micro transactions

#30

Marketcap Ranking

0.338008 (-4.52%) arrow_drop_down

Market Price (24h change)

939,504,611

Total Market Cap

3.7

4.6

info_outline What is IOTA

4.2

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IOTA Short Description

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)..

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IOTA Explanation Video

IOTA's Tangle - Simply Explained | Simply Explained - Savjee

How does IOTA's tangle work and how does it compare to a traditional blockchain like the one Bitcoin uses? In this video I'll explain these topics in a simple way! Correction: bit ...

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Screenshot from Website

www.iota.org
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Website Informationclose

Organization: [ "IOTA Foundation", "Redacted for Privacy Purposes" ]
Name: Redacted for Privacy Purposes
Country: DE
City: Redacted for Privacy Purposes
Zipcode: Redacted for Privacy Purposes
Address: Redacted for Privacy Purposes
Mail: a
Creation date: 1997-09-30
Expiration date: 2023-09-29
Nameserver: DARA.NS.CLOUDFLARE.COM

build IOTA Product Analysis

4.8

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IOTA Whitepaper

In this paper we analyze the mathematical foundations of IOTA, a cryptocurrency for the Internet-of-Things (IoT) industry. The main feature of this novel cryptocurrency is the tangle, a directed acyclic graph (DAG) for storing transactions. The tangle naturally succeeds the blockchain as its next evolutionary step, and offers features that are required to establish a machineto-machine micropayment system.


The whitepaper of IOTA is 28 Pages long.

The most influencial keywords are: Transactions, Tips, Attackers, Approve, Tip selection, Nodes, Weights, Time, Possible attack, and Random.

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IOTA Competitors

  • 1.) Nano

    Digital currency for the real world – the fast and free way to pay for everything in life. WIth instant transactions, zero fees*, and scalable network *There is required POW work to do, when you want to send transaction through network (there is 0 fee in terms of absolute value, but you need to "pay" in your computational power) Dev fund (premine): 7 000 000 NANO

  • 2.) Banano

    Don't let your memes be dreams! Banano is a fourth-generation cryptocurrency that offers feeless, instant and green transactions. It utilizes a novel DAG (Directed Acyclic Graph) based block-lettuce™ architecture, where each user possesses his own blockchain. Banano is a meme cryptocurrency with a free and fair ongoing distribution.

  • 3.) Aidos Kuneen

    Aidos Kuneen is an open source project that focuses on privacy, decentralization and scalability.

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IOTA Product Analysis

IOTA was founded back in July 2017. Its source code was released publicly on github on October 2016 under the GNU General Public License v3.0 license.
Organization wise, IOTAs Development is Semi-centralized and is being developed under the lead of Dominik Schiener.

The consensus on which the IOTA network is run is called Tangle, while the underlying algorithm is called Kerl.
In the current state of IOTA currently is Beta version

group IOTA Community Analysis

3.2

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IOTA Communities & Events

Welcome to r/IOTA! -- IOTA is a quantum-robust distributed ledger protocol launched in 2015, focused on being useful for the emerging m2m economy of Internet-of-Things (IoT), data integrity, micro-/nano- payments, and anywhere else a decentralized system is warranted. IOTA uniquely offers zero fees and decentralized consensus where users are also validators. The digital currency 'iota' has a fixed money supply with zero inflationary cost.

view_list r/Iota Subreddit
person 116,835 Subscribers
directions_run 294 Active Users
create 8 Daily Posts
speaker_notes 46 Daily Comments
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view_list Telegram: Contact @otatangle Channel
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Official Twitter account for IOTA

view_list @iotatoken Channel
person 127,079 Followers
12.01.2020
11:05
Today we have a special live session with our #Bee team! Thibault Martinez will demonstrate Bee on a #testnet. Join us at 5PM CET. #IOTA #rustlang 227 favorite
12.01.2020
10:21
Are you a #SoftwareEngineer #rustlang interested in the latest technologies? Do you want to help us build the next generation of distributed technologies #IOTA? Join our team! All details at https://t.co/pKeegNrk5E #IOTAJobs https://t.co/tFcTSysHf2 191 favorite
11.30.2020
18:36
The IOTA 1.5 network upgrade is approaching! With it, #Firefly will become #IOTA's new wallet. The result of over 3 years of learning, with next-level security, an improved user experience & an expandable app architecture. https://t.co/HSUubfnspZ 768 favorite
11.30.2020
17:15
Distributed ledger technology can do for cities infrastructure what existing technologies can't. @DomSchiener & @Mat_Yarger explain via @TechCrunch how #DLT allows for more security & upgrades to critical infrastructure in #smartcities. https://t.co/GCJGBXGPeL #IOTA 349 favorite
11.30.2020
15:34
Last month, we released the one-click Private #Tangle on the AWS Marketplace! We have updated it to automatically deploy a Private Tangle Explorer and Visualizer as part of the installation. Check it here: https://t.co/Yib8mBG57k #IOTA https://t.co/5RtgDjJIFS 317 favorite
11.30.2020
12:02
In the "Federated CSPs Marketplace" whitepaper, Dr. Michele Nati & other industry experts explain how #DLT offers a needed data trust infrastructure for new business models in the #telco industry. #IOTA is the 1st ledger integrated using @tmforumorg APIs. https://t.co/8NFyLaH72P https://t.co/zLWduMohu9 360 favorite
11.27.2020
16:00
We're pleased to announce a new #Coordicide Grant! This grant project, given to @bergplace in #Poland, will undertake a study on #CellularAutomata Consensus Mechanism and #Autopeering Optimization. https://t.co/dqvUrHRqyV #IOTA 417 favorite
11.27.2020
13:00
Chrysalis weekly update, Nov 27 - The successful test synchronization between #Bee and #Hornet nodes, finalization of the #Firefly UI, and work on the components for a public testnet are some of the updates. Read the latest updates at https://t.co/4tPPRXKWO4 #IOTA #Chrysalis 387 favorite
11.27.2020
12:01
We're inviting all the #IOTACommunity and #developers to join our webinar on December 3rd at 4PM CET about the Zebra Savanna & IOTA Track and Trace Ledger API! Learn how to easily combine barcodes/RFID technology with #blockchain #DLT. https://t.co/XLDH0fR3EF @ZebraTechnology 339 favorite
11.26.2020
15:01
Zebra Savanna & #IOTA introduce the Track & Trace Ledger API, which combines barcodes/RFID technology w/ #blockchain #DLT to build decentralized #supplychain applications. Check all the functionalities to #developers & join our webinars! https://t.co/MZydQqQJgX @ZebraTechnology 554 favorite

There are no events for IOTA in the next 3 Months

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IOTA Google Trends


The Google Trends chart displays the search interest on google in IOTA relative to its peak over the last year. A rising chart shows growing interest int he project.

code IOTA Development Analysis

4.1

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IOTA Github Analysis

Code Updates (Commits)


Every change to the codebase of IOTA is registered as a commit. More active projects have many commits, dead projects nearly none.

Code line changes (+/-)


Extending a project results in many new lines of code. Changing existing code results in nearly the same amount of additions and deletions. Projects that are growing show a large number of code additions with relatively few deletions.

Programming languages

Repository Numbers

star 1,182 Stars
remove_red_eye 139 Watchers
usb 408 Forks
sync_problem 423 Open Issues
border_color 2.21 % Comment Coverage
lock_open GNU General License

attach_money IOTA Price Analysis

4.6

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IOTA Price Prediction

$ 0.354917 (4.61%) arrow_drop_up

Predicted USD Market Price in 24h by Coinpaper

$ 0.429127 (26.49%) arrow_drop_up

Predicted USD Market Price in 14d by Coinpaper

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Converter MIOTA - USD

Convert between MIOTA and USD with the live IOTA prices, aggregated from all big exchanges that trade IOTA.


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Market insights

Volume from exchanges is considered untrusted if the exchange has little reputation and no License but reports suspiciously high trading volume in particular coins.

account_circle IOTA Team Analysis

4.8

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IOTA Team

IOTA Team Leader

David Sonstebo - Co-chairman of the board of directors & founder
David is a serial entrepreneur with a passion for any kind of technology that can push human progress forward.


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IOTA Team Members (18)

launch

Dominik Schiener

Co-chairman of the board of directors & founder

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Serguei Popov

Member board of directors & founder

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John Licciardello

Managing director, ecosystem development fund

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Janine Härtel

Senior product manager

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Rihards Gravis

Software engineer

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Sabri Goldberg

Creative director

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Paulo Finardi

Research scientist

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Chris Dukakis

Software engineer

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Vassil Dimitrov

Senior research scientist

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Sam Chen

Senior software engineer

remove_red_eye IOTA Product Review by Coinpaper

4.5

IOTA Product description

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IOTA is short for Internet of Things Application, and it provides seamless transactions between the devices present on the Internet of Things (Garner, 2018).
IOTA (MIOTA) attempts to become the main currency for all transactions of the Internet of Things (IoT). For this to happen Iota needs to solve the current problems of scalability, transaction speed, and centralization that has kept other cryptocurrencies on their toes. IOTA (MIOTA), is a cryptocurrency, specifically designed to process financial transactions that are faster, safer, cheaper, smaller and scalable (IOTA Support, 2018). This technology addresses the major concerns of scalability and transaction fees linked with other cryptocurrencies. IOTA offers a unique technique of facilitating transactions by eliminating the need for blockchains. Unlike many other cryptocurrencies, it uses distributed ledgers. This enables it to delete the ‘miners,’ and serve the purpose of faster and cheaper transactions using a mathematical concept of Directed Acyclic Graphs. This is the main essence of the IOTA technology which separates IOTA with every other cryptocurrency out there (Everything Tangle, 2017).

4.7

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The actual goal of IOTA is to provide a seamless transaction which is both faster and cheaper. In order to do this, IOTA has replaced the blockchain technology with its own technology knows as Tangle (IOTA Foundation, 2018). Tangle is a system of interlinked and individual transactions that are stored across the decentralized network of users. When a transaction is initiated, it needs to verify two previous random transactions, meaning each user plays the role of a miner by processing the previous transactions.
However, it is difficult to process transactions on a decentralized network like Tangle, as the data that needs to be obtained comes from outside the execution environment. To address this problem, IOTA has developed its own protocol, known as Qubic, which provides the solution in the form of quorum based computing (IOTA, 2018). In layman terms, Qubic offers support to the Tangle technology in form of multiprocessing capabilities.

3.7

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IOTA was founded by David Sønstebø, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov in 2015 (IOTA Support , 2018). Dr. Serguei Popov, a Ph.D. in mathematics, developed the mathematical model of the technology they call ‘Tangle’, while it was transformed into code form by the software geniuses Sergey Ivancheglo and Dominik Schiener. The whole project is headed by David Sønstebø who is said to be an excellent businessman and equally talented in technology. The team is well reliable and trustworthy, owing to the fact that they have all been in the Crypto industry for a considerable time in their career.

4.6

How things stand for IOTA

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IOTA undoubtedly has an unmatched potential to be used as a major means of transaction in many real-world scenarios. Recent developments have occurred which are all in favor of the technology. Among them is the acceptance of IOTA as a technology of the future that will lead the IoT industry. To advance this purpose, Süddeutsche Zeitung, one of Germany’s biggest newspaper, held its annual summit in 2018. At the summit, Dominik Schiener (IOTA’s co-founder) met and held a panel discussion with Helge Braun, Head of the Chancellery & Federal Minister for Special Affairs for Germany. The summit also featured Angela Merkel (German Chancellor), Jean-Claude Juncker (President of the EU Commission), and several ministers of the German government. Among the attendees were the top administration of many high-ranking German companies (Mueller, 2018).
The team behind IOTA, at IOTA Foundation is reportedly working with Deutsche Telekom, Europe’s largest telecommunication providers, and Deutsche Bahn, world’s second-largest transport company to adopt IOTA and contribute to the IOTA’s Data Marketplace (Mueller, 2018). Adding to this, Jaguar Land Rover, which is one of the leading automobile manufacturers in Europe, is working on a project that will reward its drivers with IOTA cryptocurrency in exchange for sharing data related to their location, road quality, car health, navigation, etc. (Chavez-Dreyfuss, 2019). All these developments regarding IOTA technology shows how serious and impactful this cryptocurrency can be.
In January 2018, a wave of IOTA thefts swept the internet. A conman set up a website that claimed to guide the masses with the basics of IOTA and provided them with services like seed generation for their IOTA wallets. Deep down the otherwise seemingly safe website lied the scam of stealing IOTA coins from the user’s wallets. Fortunately, Europol with the help of German and British authorities, and the support of the IOTA’s active community was able to track down and arrest the man behind the notorious scam (Cimpanu, 2019).
Additionally, what is considered the biggest achievement and the latest development regarding IOTA is that it is set to become standardized. According to Richard Soley, CEO of Object Management Group (OMG), the IOTA technology will be standardized by the International Organization for Standardization (ISO) by the end of the next year (Jain, 2019). After standardization, new horizons will open up for IOTA; it will become open-sourced, widely recognized and adopted, resulting in a boom in the IOTA’s market capital share.

4.9

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The IOTA Foundation is the main body representing and developing the IOTA technology. Under their hood, they have many projects which aim at renewing, updating and developing the code frequently.
As mentioned earlier, Tangle is the technology that enables the IOTA currency to become a decentralized asset, unlike all other cryptocurrencies which are based on blockchain technology. In December 2018, IOTA Foundation in partnership with Cybercrypt A/S developed a lightweight trinary cryptographic hash function that is designed to provide security against all known cyber and crypt-based attacks. The hash function has been named Troika (Harbor, 2018).

4.8

IOTA Pro/Contra

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Security The developers of IOTA and its hash function Troika boasts the security of their technology which does not work with blockchains. In fact, the IOTA Foundation has announced that they are willing to give shares worth up to $220,000 to anyone who can find loopholes in their technology.
Transactions per second IOTA technology is much quicker than other cryptocurrencies. To put things in perspective, IOTA can process 500-800 transactions per second as compared to bitcoin’s 7 transactions per second.
Transaction cost IOTA, apparently, does not charge any processing fees. Its transaction cost is zero.
Energy consumption As IOTA is not based upon blockchains, it does not require mining. Therefore, IOTA is very energy-friendly. Since the validation process of IOTA’s transaction does not involve heavy computations, it is not energy-intensive. All it requires is a minimal amount of energy from the devices of its users.
Product availability IOTA exists in an actual product form. It is being used in many applications, while many industrial giants are making use of the technology to incorporate it into their IoT projects.
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Adoption With IoT in its initial phases, the use of IOTA is limited. We can say the technology is a little ahead of its time and is currently premature.
Transaction speed Since part of the IOTA transaction process requires verification from other users; the speed depends upon the number of active users present on the network. At present, people have demonstrated IOTA’s transaction speeds which take up to 4-5 minutes to send and receive IOTA coins. More participants in the network will result in faster transaction times.
Decentralization The coin is centralized though the Coordinator. Coordicide has not been implemented yet!
Exchange availability While some exchanges offer IOTA, including Binance, Coinone, Trade.io, it is not available on many known exchanges like Coinbase and Bittrex.
Privacy IOTA technology complies with the rules and regulations of the EU General Data Protection Regulation, which means it secures the transactional data of its users.

remove_red_eye IOTA Market Review by Coinpaper

4.8

IOTA Foresight

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With the industry talking about the Industrial Revolution 4.0 and the paradigm shift to the Internet of Things, IOTA offers a strong and impactful resource in its core. The possibility that IOTA could eliminate all middlemen from the financial transactions and make transactions more scalable further affirms that it is certainly the technology of the future if the IOTA foundation manages to breach the chains of the trilemma by integrating the Coordicide.

4.6

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Coordicide, which is being named as the next step in IOTA’s evolution, is a project that eliminates all the coordinators and middle parties from the financial transaction, rendering IOTA a long-term decentralized platform (Markus, 2019).
Another project supporting the IOTA technology is the Trinity Wallet being launched by the IOTA Foundation that is designed specifically for IOTA cryptocurrency.

4.8

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IOTA technology has seemingly many real-world applications. With the developments towards IoT, the use of IOTA increases day by day. The technology has massive potential of proving itself to be technology of the future.

5.0

IOTA Business Case

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IOTA was created with the sole purpose of making the financial transactions faster and more secure while cutting down on the processing fees. It uses a decentralized technology known as Tangle, as opposed to the blockchain concept that all other cryptocurrencies perform on. It solves the problem with apparently zero- processing fees while allowing for much smaller transactions. The technology was developed for the ‘Internet of Things’ devices and is, therefore, the technology of the future. Keeping these facts under consideration, it would not be wrong to say that there is no other substitute for IOTA.

5.0

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IOTA has already partnered with many industrial giants and is working on many different projects at the moment. The Foundations has developed the IOTA Data Marketplace in partnership with Bosch (Bosch Connected Devices and Solutions GmbH, 2019), is working on an innovative parking app with Edag (Lange, 2019). A smart city project is in the testing phase in collaboration with Fujitsu and Samsung (Paradigm, 2019).
Also, IOTA Foundation is looking to generate seed funds with the start-up studio Nova for entrepreneurs that aim to contribute to the decentralized ledger technology (O'Brien, 2019).

5.0

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The IOTA Foundation, together with the IOTA User community is working continually with the aim of developing and improving the IOTA technology. Recently, the IOTA Foundation has announced $5 million in grants to research that aims to develop, optimize and facilitates in improving the IOTA technology (Greve, 2019).

4.5

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The team behind IOTA is the IOTA Foundation led by David Sønstebø. Among the founders are Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov. The supervisory team is led by Richard Soley, while the executive members all possess top-notch resumes and have ample experience in the relevant field (IOTA Support , 2018).

4.8

compare_arrows IOTA Exchanges

IOTA Markets

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# Exchange Pair Price 24h Volume Trusted
# 1 Bitfinex MIOTA/USD $ 0.336310 $ 2,125,378 check
# 2 Binance MIOTA/BTC $ 0.339195 $ 1,725,740 check
# 3 Bitfinex MIOTA/BTC $ 0.336704 $ 379,676 check
# 4 Binance MIOTA/BUSD $ 0.338774 $ 182,920 check
# 5 Binance MIOTA/ETH $ 0.338411 $ 162,330 check
# 6 Binance MIOTA/BNB $ 0.338470 $ 91,439 check
# 7 Bitfinex MIOTA/EUR $ 0.342995 $ 82,691 check
# 8 Bitfinex MIOTA/JPY $ 0.340394 $ 50,153 check
# 9 Bitfinex MIOTA/ETH $ 0.337333 $ 49,794 check
# 10 Bittrex MIOTA/BTC $ 0.336129 $ 47,250 check

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