How the value of the iota cryptocurrency has changed over the past day

How the value of the iota cryptocurrency has changed over the past day

IOTA is one of the cryptocurrencies that are revolutionizing the digital currency marketbecause unlike its competitors such as bitcoin or ethereum, it is based on a technology that is totally different from the blockchain where we are not talking about mines or miners.

For finance experts, IOTA is an ambitious and very risky bet whose main objective is to integrate digital currencies into a single network, the internet of things.

Created by German developers, the digital currency uses technology o architecture called entanglement focused on the Directed Acyclic Graph (DAG), which is characterized among other things by its greater user-friendliness, since transactions can be carried out with only a mobile phone and a computer, while it does not consume as much energy as a blockchain network.

In addition, these operations can be carried out by users who operate with IOTA and there are no commissions for the operations because their users must carry out other external transactions before materializing theirs.

IOTA technology guarantees users of this cryptocurrency a more reliable environment than the blockchain network can provide, since the latter allows transactions to be carried out in an asynchronous, orderly and slow manner for security reasons; while the Tangle allows to do parallel operations.

The maximum supply that IOTA has is 2 thousand 779 million 350 thousand 283 tokens and the goal is to perform microtransactions up to $0.001 without paying any payment processing fees. In each transaction, the “seed” is required, which is a randomly generated 81-character code that prevents the theft of funds.

Among its advantages is its resistance to quantum computing, millions of times faster than what we know today; However, one of its weaknesses is security, since in 2017 it faced a hack that caused its price to break and loss of trading volume.

While the debate heats up every day on the convenience or not of its use, iota is trading today at 3:45 p.m. (UTC time) at $0.2007263, which is a change of 4.36% compared to the last 24 hours and a change of 1.11% with reference to its value reached in the last hour.

Regarding its market capitalization, it maintained the position #76 between digital currencies.

Cryptocurrencies are digital currencies that do not physically exist. and, unlike currencies such as the dollar, euro or peso, they are not regulated by any institution and do not need intermediaries in transactions.

Consequently, they are regularly not viewed favorably by the formal market and are accused of being unreliable, volatile, promoting fraud, not having a legal framework that supports their users, allowing the exploitation of illegal activities, among others.

Yet, little by little, they paved the way to such an extent that companies, millionaires and even states encouraged or authorized their use.

These cryptocurrencies work through cryptographic encryption that guarantees the security of transactions, as well as control over the creation of their currencies. To make transactions, virtual currencies use a decentralized database, blockchain or shared ledger.

Currently, there are different cryptocurrencies in this unregulated market, however, the pioneer was Bitcoin, created in 2008, with it came others such as litecoin, ethereum, bitcoin cash, ripple, dogecoinsome of the most popular.

One of the richest men in the world, Elon Muskhas made comments in favor of cryptocurrencies such as bitcoin and dogecoin, even temporarily accepting digital currencies from its electric car company Tesla, which has boosted its price.

In The Savior, President Nayib Bukele legalized bitcoin, becoming the first country to do so. In the case of Mexico, one of the richest businessmen in the country, Ricardo Salinas Pliego, has made public his intention to accept cryptocurrencies in his companies, one of his main ones – the Elektra store – already does so. For his part, the President of Argentina, Alberto Fernández, suggested using its use to fight inflation. Even in Peruthe Central Reserve Bank has warned that it is working on its own digital currency project.

To buy any of the cryptocurrencies that exist in this unregulated market, you need to go to specialized websites.

It should be mentioned that the value of each of these digital currencies depends on supply and demand, as well as the engagement of the users themselves, which can cause abrupt changes.

This means that the more people are interested and want to get a certain cryptocurrency, the higher its price will be and vice versa.

However, anyone investing in this type of digital currency should be very clear that this form brings with it a high capital riskjust as there can be an increase, it can also have an unexpected crash and wipe out the savings of its users.

Melissa Galbraith
Melissa Galbraith is the World News reporter for Globe Live Media. She covers all the major events happening around the World. From Europe to Americas, from Asia to Antarctica, Melissa covers it all. Never miss another Major World Event by bookmarking her author page right here.For tips or news submission: