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About IOTA
Key Points
- IOTA is a distributed ledger technology (DLT) built on a directed acyclic graph (DAG) called the Tangle.
- IOTA aims to offer solutions to establish a secure and permissionless infrastructure.
- IOTA 2.0 will be a protocol upgrade that rebuilds IOTA’s architecture to deliver full decentralization, launching in 2024.
- The IOTA Foundation is a charitable non-profit organization founded in 2017, headquartered in Berlin, Germany.
- The total supply of the IOTA token is 4,600,000,000 IOTAs.
- IOTA 2.0 will employ committee-based consensus and staking-based consensus mechanism
About IOTA: Revolutionizing the Internet of Things
Introducing IOTA: A Revolutionary Distributed Ledger Technology
IOTA is a pioneering distributed ledger technology (DLT) that boasts a distinctive architecture and an open-source product suite, empowering individuals, businesses, and institutions to thrive in the Web3 ecosystem. Built upon a directed acyclic graph (DAG) known as the Tangle, which can be envisioned as a multidimensional blockchain, it facilitates the seamless exchange of data and value on a decentralized platform, ensuring direct, secure, and immutable transactions that are indelibly recorded on the network.
Delve into the intricacies of this project by exploring our comprehensive examination of IOTA.
In tandem with its staging network Shimmer, IOTA strives to provide solutions that establish a secure and permissionless infrastructure, poised to propel the economy of the future. By facilitating the development of decentralized applications, IOTA enables automated trust through Ethereum-compatible smart contracts, a cutting-edge consensus algorithm, and meticulously balanced incentives.
IOTA provides a comprehensive suite of tools for crafting and governing bespoke Layer 2 (EVM) chains, facilitating the deployment of smart contracts, minting of native tokens and NFTs with unique characteristics, and empowering users with digital identities.
Slated for launch in 2024, IOTA 2.0 promises to revolutionize the protocol by reconstructing its architecture, thereby achieving complete decentralization. For a deeper dive, please
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.
Introducing the IOTA Foundation: Pioneering the Future of Distributed Ledger Technology
Established in 2017, the IOTA Foundation is a charitable, non-profit organization headquartered in Berlin, Germany, boasting a distinguished tenure as one of the pioneering crypto projects. The foundation is dedicated to developing the IOTA protocol and fostering open-source governance, thereby propelling the technology towards production maturity. At the helm is Co-founder and Chairman, Dominik Schiener.
A pioneering initiative undertaken by the IOTA Foundation involves crafting infrastructure to digitally tokenize real-world assets. The overarching objective is to bridge the physical and digital realms, thereby rendering illiquid assets liquid and widely tradable, and unlocking novel economic opportunities.
Two pivotal organizations are instrumental in driving the widespread adoption of IOTA and fostering a thriving ecosystem of partners and innovators leveraging the technology. The Tangle Ecosystem Association (TEA), a Swiss-based non-profit entity, plays a crucial role in allocating grants and funding to a diverse range of ecosystem projects, strategic alliances, partners, third-party integrations, and builders. Meanwhile, the IOTA Ecosystem DLT Foundation, headquartered in Abu Dhabi, United Arab Emirates, holds the distinction of being the first DLT foundation to be officially registered under the regulatory authorities in the region.
Unveiling the Unparalleled Attributes of IOTA
IOTA stands out in the DLT landscape with its pioneering architecture and features. By leveraging the Tangle, a directed acyclic graph (DAG), it enables the parallel processing of transactions, thereby circumventing the scalability limitations inherent in traditional blockchain architectures. Consequently, the Tangle significantly enhances scalability and operational efficiency. The Tangle’s distinctive ability to accommodate simultaneous block additions, combined with its DAG architecture, facilitates continuous and parallel transaction processing, thereby optimizing computational resources and ensuring seamless handling of high-volume transactions.
One of IOTA’s defining features is its ability to operate independently, eliminating the need for external validators or miners, thereby rendering token-based transaction fees obsolete. This innovative approach ensures that transactions on the IOTA platform are not only economical but also impervious to potential manipulation, facilitating seamless and secure transaction transfers.
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The Circulating Supply of IOTA Coins: A Closer Look
The total supply of the IOTA token is capped at 4,600,000,000 IOTAs. Notably, the smallest unit of IOTA is denominated as “micros,” which boasts six decimal points, thereby rendering the total supply equivalent to a staggering 4,600,000,000,000,000 micros.
The IOTA Network’s Security Mechanisms: A Robust Framework
A robust validator and committee selection process, integral to the IOTA 2.0 protocol upgrade, ensures the integrity of the network and provides robust resistance against malicious activities through a staking-based consensus mechanism. The IOTA 2.0 protocol will employ a committee-based consensus, where the selection of committee members is contingent upon staked value, thereby deterring potential attackers. To prevent state reversion, the protocol incorporates conflicting opinion chains and supermajority consensus. Furthermore, the protocol introduces token-generated Mana and the Scheduler, effectively thwarting spam by requiring tokens for block issuance, all while avoiding the imposition of fees.
Where to Acquire IOTA (MIOTA): A Comprehensive Guide
IOTA is listed on multiple prominent exchanges, with many investors opting to purchase IOTA on esteemed platforms such as Binance, Bitfinex, and OKX. As stated by the project, a diverse array of trading pairs is available, linking the token to Bitcoin, Ethereum, stablecoins, and a range of fiat currencies, including the Japanese yen, euro, pound, and dollar. Learn more about fiat on-ramps
here
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