IOTA is a cryptocurrency that uses a unique distributed ledger technology called the Tangle, which is designed to facilitate secure communication and transactions between machines and devices in the Internet of Things (IoT) ecosystem without the need for miners, fees or traditional blockchain structure. IOTA aims to become the backbone for the machine economy by enabling data integrity, trust, and interoperability between devices and machines in various industries, including healthcare, supply chain, energy, and more.
About $MIOTA token
$MIOTA is the ticker symbol for IOTA's native cryptocurrency, which is used to facilitate transactions and data exchange within the IOTA network. $MIOTA is divisible by 1 million, and its supply is fixed at 2.78 billion tokens, which were all pre-mined at the network's inception. $MIOTA can be used to pay for goods and services, transfer value, and access various features and applications within the IOTA ecosystem. The token's price is determined by market demand and supply, and it's traded on various cryptocurrency exchanges.
How to buy $MIOTA with a payment card
1. Enter the amount of $MIOTA and fiat currency that you wish to purchase.
2. Verify your phone and email.
3. Enter or create $MIOTA wallet
You are given the option to enter your $MIOTA wallet address or create one using the Swipelux widget.
4. Pass KYC flow
This verification process helps protect you from fraud and other malicious activities.
5. You're now ready to buy $MIOTA with a credit and debit card.
Market Position and Adoption: As of March 2023, IOTA's MIOTA token holds a market rank of #78, with a market capitalization of $562,601,431 USD. Over 363,255 watchlists follow the coin, indicating a fair level of interest from investors. The MIOTA token is used to facilitate transactions and data exchange within the IOTA network, which aims to provide secure communication and transactions between machines and devices in the Internet of Things (IoT) ecosystem. IOTA's adoption rate is growing steadily, with various partnerships and collaborations with companies in different industries, including supply chain, energy, and healthcare. However, the adoption rate of IOTA and its MIOTA token is still relatively low compared to other cryptocurrencies due to the network's complexity and the limited number of use cases.
Technology and Platform: IOTA uses a unique distributed ledger technology called the Tangle, which is designed to facilitate secure communication and transactions between machines and devices in the IoT ecosystem without the need for miners, fees, or traditional blockchain structure. The Tangle is a Directed Acyclic Graph (DAG) that can process multiple transactions simultaneously, making it more scalable and efficient than traditional blockchain technology. IOTA's platform also includes various features and applications, including IOTA Access, IOTA Streams, and IOTA Identity, which aim to enhance security, privacy, and interoperability within the IoT ecosystem.
Team: IOTA's team includes experienced developers, researchers, and industry experts who work on different aspects of the network's development, including software development, research, and community engagement. The team is led by co-founders David Sønstebø, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov, who have a combined experience in software development, cybersecurity, and business development. The team has also established partnerships and collaborations with various companies and organizations to support the development and adoption of the IOTA network.
Competition: IOTA faces competition from other blockchain-based platforms that aim to provide similar services, including blockchain-based IoT platforms like IoT Chain (ITC), Waltonchain (WTC), and VeChain (VET). However, IOTA's unique Tangle technology gives it a competitive edge over these platforms, making it more scalable and efficient in processing transactions. IOTA also faces competition from other cryptocurrencies that serve as a medium of exchange, such as Bitcoin, Ethereum, and Litecoin.
Supply: The MIOTA token has a fixed supply of 2.78 billion tokens, which were all pre-mined at the network's inception. As of March 2023, 2.78 billion MIOTA tokens are in circulation, representing 100% of the total supply. The MIOTA token is divisible by 1 million, allowing for microtransactions and smaller denominations. The token's price is determined by market demand and supply, and it's traded on various cryptocurrency exchanges. The limited supply of MIOTA tokens may positively impact its price in the future, provided that demand for the token increases.
1. Market Volatility: Like all cryptocurrencies, the value of MIOTA token is subject to market volatility, which means that the price can fluctuate rapidly and unpredictably due to various factors such as regulatory changes, investor sentiment, and global economic conditions. This volatility can pose risks for investors, particularly those who trade with leverage or invest large amounts of capital.
2. Adoption and Use Case: The adoption and use case of MIOTA token are still relatively limited compared to other cryptocurrencies, which can negatively impact its value and market demand. The success of IOTA's Tangle technology and its applications in the IoT ecosystem depends on the adoption and integration by businesses and industries, which may take time and face challenges.
3. Network Security: The Tangle technology that powers the IOTA network is relatively new and complex, and its security has been a subject of scrutiny and criticism in the past. Any vulnerability or security breach in the network can lead to loss of funds, damage to reputation, and decreased market confidence.
4. Regulatory Risk: The regulatory landscape for cryptocurrencies is still evolving, and changes in regulations or restrictions on the use and trading of cryptocurrencies can negatively impact the value and adoption of MIOTA token. Increased regulatory scrutiny can also pose risks for the IOTA Foundation and its operations.
5. Competition: MIOTA token faces competition from other cryptocurrencies and blockchain-based platforms that provide similar services and applications, which can impact its market demand and adoption rate. The success of IOTA's Tangle technology and its applications will depend on its ability to differentiate itself from competitors and provide unique value to its users.
Potential market development triggers
Increased adoption of IoT technology: As the Internet of Things (IoT) becomes more widespread, the demand for a secure and scalable network for IoT devices could increase. MIOTA token's Tangle technology offers a unique solution to this problem and could become a preferred platform for IoT applications.
Expansion of partnerships and collaborations: The IOTA Foundation has already formed partnerships with major companies and organizations, including Volkswagen, Fujitsu, and the United Nations, among others. Further collaborations and partnerships could increase the adoption and use case of MIOTA token.
Integration with other platforms and services: Integration with other blockchain-based platforms and services, such as decentralized finance (DeFi) and NFT marketplaces, could increase the demand for MIOTA token and expand its use case.
Upgrades and improvements to the Tangle technology: The IOTA Foundation is continuously working on improving the Tangle technology and addressing any security and scalability issues. Upgrades and improvements could increase the market confidence in MIOTA token and attract new users and investors.
Positive regulatory developments: Positive regulatory developments, such as clearer guidelines and regulations for cryptocurrencies, could increase the adoption and use case of MIOTA token and improve the overall market sentiment towards cryptocurrencies.