What is IOTA (MIOTA)?
IOTA (MIOTA) is a cryptocurrency project designed for settlements on the Internet of Things ( IoT ) system. The project is based not on the blockchain, but on the Tangle technology.
The total number of IOTA tokens is limited and equal to 2777 530 283 277 761 units of IOTA currency.
Currently, the total market cap of the coin is over $923M USD in MIOTA. The 24h trading of the currency is above $27M USD. According to the cryptocurrency rating website CoinMarketCap, the coin takes 28 place in the top 50 cryptocurrencies in the world by market cap. At the time of writing, MIOTA price is staying at $0,3364 USD .
Over the past months, the coin price in terms of BTC has been rapidly heating up to 0,000037 BTC per 1 MIOTA. However, since then, the coin price has been falling down to the current marks.
IOTA (MIOTA) Blockchain
As it was mentioned above, IOTA is not deployed on a blockchain network. Unlike Bitcoin ( BTC ), IOTA has no issues with scalability.
The more participants join the IOTA network, the faster transactions can go through. Moreover, commissions for conducting transactions are not charged even with a small amount of transfer.
In addition to that, the project is based on the quantum-proof protocol called Tangle, which solves many cryptographical issues that may appear in the upcoming future.
IOTA (MIOTA) Price predictions
At the beginning of 2019, the MIOTA coin price was at the $0,38 USD level and even managed to hit its high in May, when the coin reached $0,56 USD. Eventually, due to the regulatory uncertainty, audit issues speculations and crypto winter, the IOTA cryptocurrency price began to decline gradually.
Recent Improved IOTA
According to Dominik Scheiner, the IOTA and IOTA Foundation co-founder, all credit goes to the team behind the development and the IOTA community for enabling the upgrade. In his opinion, the second phase will offer more improved features compared to this one.
Currently, IOTA is considered to be among the fastest networks, offering 10-second confirmation speeds. This is a considerable improvement from the previous 80-second rate.
The Future of IOTA Blockchain
Sequentially, Trinity desktop wallet holders and node runners should upgrade their applications to fit the update.
The second phase, whose development started months ago, should come online later in the year. The whole purpose of the Chrysalis upgrade is to create a better ecosystem for an effortless transition into the Coordicide phase.
Before the launch of Coordicide, IOTA hopes to be enterprise-ready with the additional features present in IOTA 1.5 phase two.
The IOTA price saw a rejection against USDT
Best Regards and successful trades