IOTA is one of the virtual currencies that are revolutionizing the digital currency marketbecause unlike its competitors such as bitcoin or ethereum, it is based on a totally different technology than blockchain where there is no talk of mines or miners.
For financial experts, IOTA is an ambitious and very risky bet whose main objective is to incorporate digital currencies into a single network, the internet of things.
While the debate becomes more heated every day about the convenience or not of its use, iota is trading this day at 10:30 am (UTC) at 0.14 USD, which represents a change of 0.35% regarding the last 24 hours and a variation of -0.8% with reference to its value reached in the last hour.
In terms of its market capitalization, it has maintained the position #97 among digital currencies.
Created by German developers, the digital currency uses a technology or architecture called Tangle focused on the Directed Acyclic Graph (DAG) which, among other things, is characterized by being friendlier, since transactions can be made with just having a mobile phone and a computer, while not consuming as much energy as a blockchain network.
Furthermore, these operations can be carried out by users who operate with IOTA and there are no commissions for operations because its users must make other transactions before materializing their own.
IOTA technology guarantees that users of this cryptocurrency have a more reliable environment than the one the blockchain network can provide, since the latter allows transactions to be made asynchronously, orderly and slowly for security reasons; while the Tangle allows parallel operations.
The maximum supply that IOTA has is 2 thousand 779 million 350 thousand 283 tokens and The goal is to get microtransactions made up to $0.001 without having to pay payment processing fees. In each operation, the “seed” is required, which is a randomly generated 81-character code that prevents the theft of funds.
Among its strengths is its resistance to quantum computing, millions of times faster than that known today; However, one of its weaknesses is security, since in 2017 it faced a hack that caused a break in its price and a loss in transaction volume.
Cryptocurrencies They are no longer foreign elements and have begun to enter the language of everyday life, awakening the interest of those who are concerned about finances or even reaching the level of being legalized in some regions of the world.
As their name suggests, cryptocurrencies they use cryptographic or encryption methods to carry out transactions in a deregulated system and, most of them, through block chains (blockchain), which distances it from traditional models where banks function as intermediaries.
Its innovation has caused many people to be interested in investing in digital currencies, since its value has increased considerably in recent years, being bitcoin, ethereum and dogecoin the most popular and those with the highest capitalization in the market.
Each of these units are founded through a process called “mining” and users can acquire them through various agents or cryptocurrency exchanges, and then store them in “cryptographic wallets” or make various transactions with them using unique keys.
Even though It was in 2009 when bitcoin entered the market as the first cryptocurrency in the world.the truth is that these are just experiencing a boom in the financial field, so their use is expected to increase in the not so distant future.
Cryptocurrencies have several factors that make them unique: not being regulated by any institution; not requiring third parties in transactions; and almost always use accounting blocks (blockchain) to prevent new cryptocurrencies from being created illegally or transactions already made from being modified.
However, by not having regulators such as a central bank or similar entities they are accused of being unreliable, of being volatilepromote fraud, not have a legal framework that supports its users, allow the operation of illegal activities, among others.
Although it could be a paradox, at the same time cryptocurrencies guarantee security to their miners regarding the network in which it is located (network) and which implies code management; Hacking this security is possible but difficult since whoever tried it would have to have a computational power greater than even that of Google itself.
Whoever invests in this type of digital currencies must be very clear that this form brings with it a high risk to capitalWell, just as there can be an increase, it can also unexpectedly crash and wipe out the savings of its users.
To store them, users must have a digital purse or walletwhich is actually a software through which it is possible to save, send and transact cryptocurrencies. In reality, this type of wallet only stores the keys that mark a person’s ownership and right to a certain cryptocurrency, so these codes are the ones that should actually be protected.
