IOTA (MIOTA)

What is IOTA (MIOTA)?

IOTA is a distributed ledger that has a huge difference as it isn’t actually a blockchain. It is in fact a proprietary technology that is known as Tangle. Tangle is a structure of nodes that confirm transactions. The developers of the project state that this system offers far greater speeds than traditional blockchains and an ideal footprint for the ever-expanding Internet of Things ecosystem. Since the system doesn’t use blockchain technology, the system has no miners, furthermore there also no fees.

The team behind IOTA believe that their distributed ledger could provide digital identities to all, provide car insurance policies that are based on actual usage, herald cutting-edge smart cities, provide harmonious global trade and prove the legitimacy of products.

Team

The four co-founders of IOTA are Sergey Ivancheglo, Serguei Popov, David Sønstebø and Dominik Schiener.

The IOTA Foundation is the main organisation behind the development of IOTA. It is a non-profit foundation with several goals for the project. Some of them include to research and implement the foundation protocol layer, develop production-ready opensource software and provide education on their technology.

The foundation receives funding mainly form holdings of IOTA tokens and contributions from private individuals and organisations as well as grants form public bodies.

The IOTA Foundation states that the initiative has rapidly grown since its inception and the team members are now based across more than 25 countries. Sonstebo and Schiener are jointly co-chairmen of the board of directors, whilst Popov is a board member and the director of research of the foundation. Ivancheglo resigned from the Berlin chapter of the project in June 2019 but remains as an unofficial advisor to the project.

Roadmap

Chrysalis: Jan 2020 - December 2020

IOTA 1.5, the mainets intermediate stage before Coordicide.

Bee Node: Aug 2020 – Dec 2020

A minimum implementation ‘Bee’, a Rust node software. This will allow you to connect it to other neighbours on the Mainnet. Bee also allows users with very restricted resources to take part in the IOTA network.

IOTA Streams: Aug 2020 – Sep 2020

IOTA Streams (previously Masked Authenticated Messaging) permits devices of any size to produce and access encrypted data streams. IOTA Streams will be easy to use while also providing important supplementary functionalities.

Chronicle: Oct 2020 – Sep 2020

A permanode stores the full history of the Tangle. We are building a production-ready permanode in Rust.

Where to Store IOTA (MIOTA)

Leading hardware wallet providers such as Ledger are integrated with IOTA and MIOTA wallets will come as standard on their devices. 

Trinity is the official wallet for IOTA. It is a mobile and desktop-friendly wallet, which is very user-friendly, with all the upgraded technologies. Tasks are easy to perform as there is heavy automation requiring little work from the user. Trinity is protected and it protects you in every step. Like other wallets, you can create a backup should you need one in the event of a security breach. Trinity is available on both android and iOS versions. For desktop, it supports Windows, Mac, and Linux.

Where to Buy and Sell IOTA (MIOTA)

You can Buy & Sell IOTA (MIOTA) by heading over to the Buy Coins page of our website. IOTA (MIOTA) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Tether has never been easier, simply place your order and provide your wallet address.

Once your payment arrives IOTA will be sent directly to your wallet. If you choose to Sell IOTA (MIOTA) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on the ‘Sell Coins’ page.

IOTA (MIOTA) Resources

Website: https://www.iota.org/
Block Explorer: https://thetangle.org/
Twitter: https://twitter.com/iotatoken
GitHub: https://github.com/iotaledger

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.