What is Iota (MIOTA)? Iota is a distributed ledger technology (DLT) network and related native network coin that trades as MIOTA. Iota calls its network “the Tangle” and touts a number of differences from blockchain technology, such as parallel activity. The network requires no transaction fees and was constructed with a focus on the Internet of Things (IoT).
How does Iota work?
Blockchains can essentially run as immutable methods of information and value transfer. Blockchains typically function linearly, composing blocks containing transactions added in order to form a chain. In a way, blockchains rely on intermediaries (such as miners on proof-of-work (PoW) blockchains), essentially comprising open-market, fee-reliant systems.
Compared with blockchain technology, what makes Iota unique? Iota's global network, the Tangle, does not have blocks and does not run linearly. Although the Iota network is essentially an unchangeable record of network activity — similar to a blockchain — it operates in parallel instead of linearly.
Taking the form of a directed acyclic graph (DAG), the Tangle is essentially a mass of interconnected, simultaneous transactions operating according to its own set of parameters. Every new transaction attaches to between two and eight former transactions. New transactions are attached to the front end of the network at differing points, allowing for a more versatile and parallel structure than blockchain. Since the Tangle requires no transaction fees, its system differs from the open-market atmosphere of fee-based blockchains.
Iota price history
Since the Tangle can be used to build on, the network has a surrounding ecosystem. Among its uses, MIOTA plays a part within the Iota network's ecosystem. Although Iota's Tangle network does not directly have a price, its native coin, which trades as MIOTA, does have a market value that can be expressed in U.S. dollars (USD). For the Iota price today via a MIOTA-USD price, see the top of the page, which also shows the Iota marketcap (MIOTA's market cap) and more. Additionally, the MIOTA price chart above shows the coin's price history.
