IOTA (MIOTA) is a distributed ledger for the Internet of Things (IoT). Instead of using blockchain technology, IOTA uses a directed acyclic graph (DAG). The protocol used in it is known as Tangle which is a quantum-proof protocol. Some features of Tangle include ‘zero fees, infinite scalability, fast transactions, and secure data transfer.’ The IOTA Tangle is a Directed Acyclic Graph which almost cost no transaction fees, and there is no upper limit for the number of transactions that can take place per second in the network. Interestingly, the throughput of the network enhances as the congestion increases, i.e., the more activity, the faster the network.
With a negative Return on Investment (ROI) of 51.43%, the market capitalization of IOTA (MIOTA) on April 23, at UTC 07:24 was around USD 862,050,565. Its price against Bitcoin was around 0.00005758 BTC per chip. IOTA’s last 24 hours trading volume was approximately USD 12,251,080. At present, IOTA is ranked at 16th place in cryptocurrency ranking. On March 29, its value was around USD 0.308698, however, today, after 25-days, the price of IOTA seems to be flat since then, and it currently is trading at USD 0.310143, with a slight bounce of about 0.5%.
Let’s have a brief look at the variation of price of IOTA (MIOTA) over time. The total market supply of IOTA coins is around 2,779,530,283 MIOTA. The crypto hit the top of Bollinger Chart on Dec 19, 2017, and traded at USD 5.69. Nevertheless, on July 15, the same year, it dropped to the bottom and priced at USD 0.147933. Yesterday’s high and low for IOTA (MIOTA) was USD 0.312287 and USD 0.302606 respectively. While the coin opened yesterday at USD 0.306142, it closed at USD 0.310028 with a cumulative hike of USD 0.003886 (1.27%). The total trading volume of IOTA (MIOTA) for the previous day was ofUSD 12,014,918.
IOTA (MIOTA) Price Forecast:
In 2018, IOTA (MIOTA) had expanded their team with active talent acquisition including researchers, developers, domain experts, and ecosystem building enthusiasts which clearly signifies that there is no looking back for them. The removal of the centralized server, the coordinator, and disqualifying IOTA from being a decentralized ledger, served greatly in its favor. In the year 2018, IOTA has validated various aspects of their earlier roadmap and come up with great improvements. In addition to that, they started researching a potential breakthrough that if validated, would greatly accelerate the performance of Coo-less IOTA. However, the future of this world is data. And data is IOTA’s main target. IOTA has partnered with Microsoft, Fujitsu, Bosch, and others which will help them in having command over this entity. According to the IOTA predictions, we know that IOTA might eclipse the current level by almost 3 times and reach $0.85 by the end of 2019.