What is Iota Currency?

Do you want to know what is Iota currency and how to trade Iota online? In this course, we will teach you what cryptocurrencies are, how to trade cryptocurrencies, what cryptocurrencies are and how Iota works and much more. Follow our website to read Iota news every day and use it to your advantage for the tading of digital currencies.

What is Iota Cryptocurrency and how it works?

Iota is a cryptocurrency that is quite unique for several different reasons. It is listed on most major cryptocurrency exchanges, and has been gathering quite a bit of volume recently. The difference with Iota is that it does not use blockchain technology, it uses something called tangle. Instead of sending out a ledger around the world to show transactions, tangle is a mesh of transactions instead of single transactions being agreed-upon. Every time a transaction is sent by its design you will verify 2 other transactions behind you. Because of this, there are zero transaction costs involved.

Iota also is perfect for the Internet of Things. Smart machines and smart living in a deeply interconnected network of microcomputers is quickly becoming a reality. Because Iota is completely free of transfer costs, small machines can use it. For example, a cleaning robot can request a ride from a drone to be used as taxi service. This offers a whole new way to transact in an economic environment.

Iota is also quantum proof. With quantum computers coming out, there are serious concerns that they will be able to break the cryptocurrency of Bitcoin wallets. Because of this, we could find a situation where Bitcoin suddenly becomes a very insecure to work with. The fact that Iota is set up in a way that quantum processing cannot crack it, it could very well become the future of cryptocurrencies.

Ultimately, this is a Cryptocurrency that has been reasonably stable, and as it is one of the top 10 by market capitalization, it’s likely that Iota does have a place in the future, as it offers a very unique way to interact with financial transactions, especially considering that even machines can use the system as there are no cost, something that is very rare.