The Internet of Things (IoT) is a new industry that is just beginning to integrate into the daily life of society. People don’t know much about IoT, but they talk a lot. In this article we will look at the IOTA project, which seeks to make a significant contribution to the development of the Internet of Things.
Key Points:
- IOTA is a cryptocurrency created for the development of the Internet of Things technology.
- During the bull run of 2021, MIOTA was unable to update its all time high.
- Fiatom will help you find the best rate to buy or sell MIOTA in seconds.
What is IOTA?
IOTA is a project designed to develop the ecosystem of the Internet of Things. The Internet of Things assumes that any objects equipped with a computer interface can interact with each other due to built-in technologies without human intervention. IOTA allows you to combine all devices into a single network and ensure that any tasks are performed within this network. The new cryptocurrency has completely replaced the blockchain with the unique Tangle technology. It differs from the blockchain in the structure. There are no blocks, chains and miners in it. And from this it follows that there are no transaction fees in IOTA.
Now there are only local cases of the “Internet of things” — for example, smart apartments with automatic regulation of heating and light. These are small autonomous “islands”. In the future, such apartments can be combined into houses and entire “smart cities”. Therefore, it is safe to say that IOTA is a project with brilliant prospects.
Speaking of the price of MIOTA, the project is not having the best of times. To date (March 21, 2022), MIOTA is trading at about $0.7. The record value was recorded on December 19, 2017 and amounted to $5.69. In 2021, when most cryptocurrencies updated their price highs, the maximum value of MIOTA was only $2.5. Perhaps the society is not yet ready to accept such an innovative project. After all, most have not yet fully understood what a blockchain is, what can we say about more sophisticated technologies. In addition, the credibility of the project was significantly undermined after an incident with a hacker who was able to steal MIOTA worth $3.94 million in 2018.
Why sell MIOTA?
The sale of MIOTA can be beneficial if you want:
- To invest your money in more promising cryptocurrencies.
- Get profit from past MIOTA purchases.
- Avoid losses in case of further reduction in the value of MIOTA.
How to sell MIOTA?
In order to sell or buy MIOTA, the user needs to select a platform and check whether it supports transactions with fiat currency. In addition, it is strongly recommended to study the rating, supported fiat currencies, fees, and the exchange rate provided. If you value your time, you can use Fiatom. We will do all the work for you. Just follow the instructions below:
- Select MIOTA from the list of supported assets.
- Enter the desired sale amount.
- Choose a fiat currency.
- Click “Search”.
- Choose the best offer from one of the fiat providers.
- Complete the payment on the platform of the selected provider.
- Get your funds.
If you want to buy MIOTA, the essence remains about the same:
- Select the fiat currency and enter the amount.
- Select MIOTA.
- Choose the best offer and complete the payment on the website of the selected provider.
- Get MIOTA to your wallet.
Conclusion
The technologies that the platform uses are promising. However, coming up with a good idea is not enough for success. It is important to implement and optimize it correctly. But the execution is still imperfect. Almost immediately after the start of the project, a serious vulnerability related to transaction confirmation was discovered. In addition, the trust of users has significantly decreased due to the history of a phishing attack. However, despite all the previous problems, the project is actively supported by developers and is improving. If the network and its technologies become more advanced in the future, this will give a new incentive to the growth of the popularity of the coin.