Buy IOTA (miota)

The most important information about information about IOTA (MIOTA):

• IOTA was established in 2015 by David Sønstebø, Sergey Ivancheglo, Serguei Popov, and Dominik Schiener
• IOTA tokens are the smallest possible unit of the cryptocurrency; usually, MIOTA units (Mega-IOTA) are traded on cryptocurrency exchanges, representing one million IOTA units; they are capped at around 2,780,000,000 MIOTA
• IOTA does not operate on a blockchain but a "Tangle" system where transactions are confirmed through a network of nodes
• The technology behind IOTA was designed to promote the "Internet of Things" (IoT), i.e., the increasing interconnectivity of electronic devices
• As the cryptocurrency doesn't operate on a blockchain, there are no transaction fees and the number of simultaneous transactions is theoretically limitless

About IOTA (MIOTA)

The IOTA platform was founded and developed in 2015 by David Sønstebø, Sergey Ivancheglo, Serguei Popov, and Dominik Schiener. The platform doesn't utilise blockchain technology, but a system called Tangle. The origin of the network’s name has different theories. For example, IOTA is the ninth letter of the Greek alphabet, and many crypto investors interpret the name as the "Internet of Things Association," aligning with the concept of the "Internet of Things" (IoT). The IoT aims to increase the interconnectivity of electronic devices, making them progressively independent of human interference.

Fast and limitless transactions without fees mean MIOTA is well suited for the payment of services and goods within this interconnected system. Contrary to conventional blockchains, the IOTA network becomes more efficient with each additional user, rather than presenting problems through transaction fees and wait times.

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The Tangle and Directed Acyclic Graph instead of traditional Blockchain

The foundation of the IOTA platform is the Tangle, a Directed Acyclic Graph (DAG). The IOTA network consists of individual nodes that are interconnected. Before a transaction is conducted, two previous transactions must first be confirmed or validated. This eliminates validation systems like Proof of Work (PoW) or Proof of Stake (PoS) from traditional blockchains. With the absence of mining, which uses computational power to confirm a transaction, and staking, where existing tokens are used as security for validation, transaction fees and longer waiting times are also eliminated. This makes the Tangle, as the basis of the IOTA platform, virtually limitless in its scalability and an attractive proposition for daily payments. However, the benefits of the validation process also come with lower security than PoS or PoW blockchains.

Security of the IOTA network

While traditional PoS and PoW blockchains are only at risk during a so-called 51 percent attack, which is when a blockchain can be manipulated if a party controls 51 percent of the computational power. This can lead to false transactions and potential double spendings. Double spending involves promising a unit of a cryptocurrency to two recipients at the same time. For instance, if hackers control more than half, i.e., 51 percent, of the network's computational power, both transactions can be validated and executed.

For IOTA, however, a third, or 34 percent, is enough to manipulate the transactions of the platform. But due to the current number of nodes within the IOTA platform and the continuously growing size of the network, this risk is becoming increasingly unlikely. 

To further secure IOTA, a coordinator from the IOTA Foundation regularly issues signed transactions. With these operations, also known as milestones, the integrity of the Tangle can be ensured. If there's a contradiction between two consecutive milestones, such as through double spending, the later milestone is invalid and is not accepted by the nodes in the Tangle. This does secure IOTA, but it also restricts it as a decentralised network. The Foundation's coordinator is indeed a single point of failure and therefore does not provide decentralised security like traditional blockchain cryptocurrencies, where validation and thus verification of blockchain integrity takes place on many different computers around the world simultaneously. To confirm a transaction, a network participant must also solve a simple Proof of Work puzzle to further improve the platform's security.

IOTA as a limited pre-mined cryptocurrency with continuous development

Like many other cryptocurrencies, the number of IOTA is also limited. There are around 2.8 billion MIOTA tokens, which are essentially pre-mined, meaning they are already in circulation. During a crowdsale to finance the project, 999,999,999 MIOTA were sold, earning the platform 1,337 Bitcoin (BTC) at a then market value of 325 US dollars (USD) per token. In 2017, the IOTA Foundation was established and was supported by the community with around 5 percent of the MIOTA tokens. With the majority of the donations, the Foundation wanted to finance developers and researchers. In 2023, the IOTA 2.0 Blockchain and the Shimmer Network are set to go live. Shimmer is a test network for changes in the IOTA protocol. This allows for developments to be tested in a secure environment before they are applied.

IOTA (MIOTA): balancing price fluctuations through regular investments

Like all other cryptocurrencies, the price of IOTA is subject to strong volatility. Depending on when you buy individual tokens of IOTA, the price trend could be at a high or a low. So, the price of your investment could fall or rise in the coming weeks or months. Which means both significant gains as well as substantial losses are possible. If you instead purchase IOTA at regular intervals at different prices, the average price of your IOTA investment will increasingly equal an average IOTA price. Experts refer to this as the cost-average effect. This is possible, for example, with a Bitpanda Savings Plan. Just decide on an interval and an amount you want to invest, and relax.

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Important facts about IOTA (MIOTA)

What you should know about IOTA:

• The IOTA network and its corresponding cryptocurrency was founded and developed in 2015 by David Sønstebø, Sergey Ivancheglo, Serguei Popov, and Dominik Schiener
• The platform is not based on blockchain technology, but on the Tangle, a system of various nodes
• A Directed Acyclic Graph (DAG) verifies transactions by validating two existing movements in the network for every new transaction
• The crypto unit MIOTA corresponds to 1,000,000 IOTA units and is limited to approximately 2,780,000,000 MIOTA, all of which are already in circulation
• Measured by market capitalisation, IOTA (MIOTA) is currently among the top 75 cryptocurrencies at the current price
• The platform and cryptocurrency were developed with the use of the Internet of Things (IoT) in mind
• Advantages of IOTA include high scalability through fast transactions and the absence of transaction fees, making the cryptocurrency particularly interesting for microtransactions
• One disadvantage of the network is a lower security level than cryptocurrencies based on a blockchain
• An upgrade to IOTA 2.0 is planned for 2023, introducing the Shimmer system and near-instant transactions
• Over the years, IOTA has entered into many partnerships with renowned companies, including Volkswagen, Jaguar Land Rover, and Microsoft
• If you're interested in further information about the cryptocurrency IOTA (MIOTA), such as the technology behind the network or possible applications, we recommend taking a look at the IOTA whitepaper from the platform.

Information on the price of the cryptocurrency IOTA (MIOTA)

As with all other cryptocurrencies, the price per token for MIOTA is determined solely by supply and demand. Unlike many fiat currencies, established currencies that are controlled by states or financial institutions, no further entities have an influence on the IOTA price. However, political and economic events and decisions can affect the interest in cryptocurrencies like IOTA as a means of payment or investment. Measured by market capitalisation, IOTA is among the top 75 cryptocurrencies with the current price development.

IOTA (MIOTA) price: Milestones and important events

At a first Initial Coin Offering (ICO), where coins or tokens were sold in advance to finance a project, the price per MIOTA was around 0.001 US dollars. This brought the project about 500,000 US dollars in Bitcoin for the development of the project. However, the ICO investors claimed only about 60 percent of the total MIOTA. So, 40 percent of the tokens returned to the project.

In 2017, the IOTA price reached an all-time high of 5.69 US dollars per MIOTA. At this price per token, the cryptocurrency reached a market capitalisation of over 12 billion US dollars, placing it among the top seven cryptocurrencies of the time. On 13 March 2020, the IOTA price fell to an all-time low of 0.007962 US dollars per MIOTA. In the crypto year 2021, the price of the IOTA cryptocurrency briefly exceeded the threshold of 2.50 US dollars per token. Amid many price fluctuations, the IOTA price fell to a low of around 0.16 US dollars per MIOTA by December 2022. In recent months, the price per token has risen again, so IOTA reached a price of 0.25 US dollars per MIOTA at times.

As the IOTA platform enables near-instant transactions at no additional cost and is planning an update to IOTA 2.0 in 2023, many experts' forecasts see the practical use of the cryptocurrency and the IOTA price trend increasing. Nevertheless, past price developments are not an indicator of future performance.

The most important events and milestones of the IOTA or MIOTA price so far were:

• December 2015: 0.001 USD / MIOTA
• 2017: 5.69 USD / MIOTA
• March 2020: 0.007962 USD / MIOTA
• April 2021: 2.50 USD / MIOTA
• December 2022: 0.16 USD / MIOTA
• February 2023: 0.25 USD / MIOTA

The history of the IOTA price

During the Initial Coin Offering (ICO) to finance the project, Bitcoins worth 500,000 US dollars were raised through the sale of MIOTA. This resulted in MIOTA initially having a price per token of 0.001 US dollars. However, the ICO investors only claimed about 60 percent of the MIOTA tokens. The remaining 40 percent were returned to the project.

The IOTA price during the 2017 crypto-hype

During the crypto-hype of 2017, many cryptocurrencies saw significant price gains. The IOTA price also rose to an all-time high of 5.69 US dollars per token. The price per MIOTA subsequently fell following a price correction and disagreements over a long period.

Suspicions suggest that the hype was due to manipulation by a market participant. The Bitcoin price was artificially inflated using the cryptocurrency Tether (USDT) and the Bitfinex platform. With increasing media interest and growing awareness of cryptocurrencies as potential investments and means of payment, other cryptocurrencies like MIOTA also benefited from this market manipulation.

Tensions in the foundation and Sergey Ivancheglo's exit affect the IOTA price

In 2020, Sergey Ivancheglo announced on Twitter that there were significant problems between him and his co-founder David Sønstebø. He demanded from his business partner the payout of 25 trillion IOTA, worth 7.7 million US dollars, and announced that he would no longer be involved in the project.

As a result, the IOTA Coordinator was switched off for 12 days and the biggest investors publicly criticised IOTA. This public dispute and its consequences led to great uncertainties among investors. As a result, the IOTA price fell to its all-time low of 0.007962 US dollars per MIOTA in March. In December 2020, the foundation announced that IOTA had parted ways with David Sønstebø.

The IOTA price in the crypto year 2021

In 2021, many cryptocurrencies experienced a surge and some coins and tokens exploded in price. But other digital assets, like Non-Fungible Tokens (NFTs), also received a lot of interest. Companies like Tesla also announced significant investments, and PayPal announced it would accept payments in cryptocurrencies in the future.

Thanks to this economic upturn, growing interest and the increasing opportunities to pay with cryptocurrencies, MIOTA increased to a price per token of 2.50 US dollars.

The crypto winter of 2022 and the IOTA price

Following the boom of 2021, a dramatic price correction set in. The war in Ukraine and rising inflation rates lowered investors' willingness to invest. China issued a general ban on cryptocurrencies, and private crypto wallets were banned in India. Additionally, the first governments expressed interest in measures for state regulation of digital assets. The collapse of the crypto platform FTX and the crash of the Terra Blockchain further drove the price losses of many cryptocurrencies. As a result, the price per MIOTA fell to a low of around 0.16 US dollars in December 2022.

In the following months, the price recovered, and by February 2023, MIOTA had already temporarily returned to prices around 0.25 US dollars per token. With the upcoming update to IOTA 2.0 and increasing use of MIOTA as a means of payment, especially in the Internet of Things (IoT), many experts predict a positive development of the IOTA prices. However, past price developments are not an indicator of future price trends.

IOTA (MIOTA): Factors influencing the price

As can be seen from the IOTA price in recent years, various factors influence the ratio of supply and demand and thus also the price. In addition to classic economic and political factors, which determine investment willingness and interest in digital assets, many other influences also affect IOTA. For example, the external image of the foundation itself. It has often suffered in the past from the public airing of internal conflicts, which significantly reduced demand and therefore the price of the cryptocurrency.

Another factor is partnerships with well-known companies. Following the announcement of a new partnership, there was often an increase in the IOTA price. Popular supporters like Elon Musk can also influence the price of the IOTA currency.

A key factor is the further development of the platform itself, which is intended to make IOTA increasingly suitable for everyday use. For instance, easier use of MIOTA as a means of payment could lead to higher demand. If you want to pay quickly and easily with MIOTA today, this is possible, for example, with the Bitpanda Card. You can pay anywhere you see a Visa symbol using your stored digital assets. At the time of payment, your assets are converted at the current exchange rate into the required fiat currency.

FAQs – IOTA and MIOTA tokens

Are you interested in more information about MIOTA? The topic of digital assets can be complicated. We answer the most common questions about IOTA, the price of the cryptocurrency, and possible predictions based on Tangle technology.