IOTA

 

IOTA

• IOTA is a project that operates a Tangle network for the processing of Machine to Machine (M2M) transactions required to implement the Internet of Things (IoT). Due to the nature of the IoT industry, which requires micro-transactions between devices, the units of transactions within the platform are small, and are mainly traded in units of Mega IOTA, which means 1 million IOTA. IOTA is used as a means of data transactions within the Tangle network.

 

 

UP-BIT

 

 

First issue	Unprovided	Total issue limit	Unprovided
market capitalization		Current Distribution
As of June 05, 2024 (Courtesy of Coin Market Cap)	529.36 billion won	As of June 05, 2024 (Courtesy of Coin Market Cap)	852,150,859
As of June 05, 2024 (Courtesy of CoinGecko)	666.9 billion won	As of June 05, 2024 (Courtesy of CoinGecko)	1,057,397,981

 

 

IOTA Features

1. IOTA is using the Tangle algorithm, not the blockchain. Under this algorithm, all traders verify the transaction details of two previous traders, which secured fast transactions and scalability, and there is no transaction fee.
2. IOTA has a special central node called Coordinator, which further verifies transactions every 1-2 minutes. The coordinator's verification work is always considered valid and improves network security by ensuring that only proper transactions are confirmed.

 

IOTA Vision

• Based on the Tangle algorithm, IOTA received a lot of attention for its faster transaction processing and no transaction fee as the number of network participants increased. Based on these advantages, it is expected that it will be able to play an active role in the Internet of Things field, which requires fast transaction methods.