IOTA (MIOTA) Market Cap Hits $3.11 Billion

IOTA (CURRENCY:MIOTA) traded down 4.9% against the US dollar during the 24-hour period ending at 19:00 PM ET on June 10th. IOTA has a market capitalization of $3.11 billion and $79.71 million worth of IOTA was traded on exchanges in the last day. Over the last week, IOTA has traded down 20.2% against the US dollar. One IOTA coin can currently be bought for $1.12 or 0.00003046 BTC on cryptocurrency exchanges.

Here is how related cryptocurrencies have performed over the last day:

  • Poseidon Network (QQQ) traded 0.1% lower against the dollar and now trades at $0.0259 or 0.00000070 BTC.
  • VITE (VITE) traded down 10.9% against the dollar and now trades at $0.0931 or 0.00000253 BTC.
  • Obyte (GBYTE) traded down 16.8% against the dollar and now trades at $30.75 or 0.00083599 BTC.
  • IoT Chain (ITC) traded 12.4% higher against the dollar and now trades at $0.12 or 0.00000325 BTC.
  • HYCON (HYC) traded 6.2% lower against the dollar and now trades at $0.0007 or 0.00000002 BTC.
  • TrustNote (TTT) traded down 0% against the dollar and now trades at $0.0000 or 0.00000000 BTC.

IOTA Profile

IOTA (MIOTA) is a Tangle coin that uses the

Directed Acyclic Graph (DAG)

hashing algorithm. It launched on July 17th, 2016. IOTA’s total supply is 2,779,530,283 coins. IOTA’s official Twitter account is @iotatoken and its Facebook page is accessible here. The Reddit community for IOTA is /r/Iota and the currency’s Github account can be viewed here. The official website for IOTA is www.iota.org. 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): “

Buying and Selling IOTA

It is usually not currently possible to purchase alternative cryptocurrencies such as IOTA directly using U.S. dollars. Investors seeking to trade IOTA should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase IOTA using one of the exchanges listed above.

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