HOW TO INVEST IN IOTA
An Investment in IOTA
While there are literally hundreds of cryptocurrencies in the crypto ecosystem as we speak (probably with more to come), IOTA is a little different. Unlike the cryptos we’ve covered before, this one doesn’t use blockchain! IOTA describes themselves as a business-2-business (B2B) virtual currency for the Internet of Things. In fact, IOTA is short for Internet of Things Application.
As usual it’s a decentralized currency, but it’s more enticing due to its scalability, lack of fees and modular nature. The feeless structure makes IOTA a much more reasonable choice for everyday micropayments. Bitcoin’s average fees clock in at about $40/transaction, which makes it an impractical choice for smaller payments.
IOTA’s ledger is called Tangle and is a directed acyclic graph (DAG). Tangle is the reason IOTA can avoid blockchains. It cannot be mined, which makes it more energy efficient and easier to use. It also makes it truly decentralized.
Amazingly, IOTA’s speed also gets faster as more people use it (which is the opposite of how blockchains work). This is because each in order for a user to make a transaction, they have to first validate the last two transactions. The work to do this is minimal and helps keep IOTA’s speed fast. IOTA is also resistant to quantum computations which makes it more secure.
IOTA was released by the IOTA Foundation in June 2016. Founders include David Sønstebø, Sergey Ivancheglo, Dominik Schiener and Serguei Popov. IOTA is a nonprofit that follows German laws.
IOTA VS. BITCOIN
Total Amount of Coins
Each cryptocoin has a set amount of tokens it can create. Bitcoin has a total supply of 21 million. Iota has more than 2.75 billion MIOTAs.
Transaction Processing Speed
IOTA can typically process between 500–800 transactions per second (tps), depending on how many users there are in that moment. Recently it’s been as fast as 1000 tps. Bitcoin processes 3–4 tps.
INVEST IN IOTA
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HOW TO INVEST IN IOTA
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Reach out to us today and learn more about investing in IOTA, the long-term value in Poken, and most importantly, Open Your IOTA IRA Account with CryptoWallet IRA!