Iota

What is IOTA

IOTA is a cryptocurrency that was born to be what is called using a known neologism the coin dedicated to the internet of things. In practice, everything that is concrete and real within the web.

Within what is the Blockchain, IOTA differs from other digital currencies in 4 important aspects. First of all, it is a scalable currency, it is decentralized, it is modular and, last but not least, it is not subject to taxation.

It is a digital currency which for the trend it has had over time is very reminiscent of classic Bitcoin, and is available today on Bitfinex, one of the main platforms for exchanging digital coins.

What is IOTA for

IOTA we have seen that it was born for a very specific need, that is to be able to act within that sphere which is the internet of things, in a transparent way and without the heavy burden of commissions.

According to the developers, this feature is essential in order to give the digital currency the right development also with regard to transactions.

It differs greatly from other types of cryptocurrencies due to its structure, an aspect which has often created a bit of perplexity among people.

One of the quite particular aspects of this digital currency is the absence of a blockchain, but at the base of everything there is a special ledger, which is known by the name of Tangle. A choice thought out and wanted by the creators and developers of the digital currency in question, who explained the reasons for this choice on the pages of the official IOTA website.

The IOTA foundation owns 5% of the circulating supply. As the developers who put the IOTA cryptocurrency into circulation know, this foundation is designed exclusively to be an independent and neutral entity, which operates on this cryptocurrency in a transparent, neutral and above all non-profit way. The goal of the foundation is to contribute to the development of the project.

Is IOTA minable?

Can I mine with IOTA? This is a question that surely many will be asking themselves by reading these lines, and we can certainly say that it is not possible to undermine this digital currency.

As we can easily observe by doing a very simple search on the web, we will discover that all the available supply of this cryptocurrency is currently in circulation, and has been distributed proportionally among all those who participated in the ICO.