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Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens - Investment - Nairaland

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Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by Yards(m): 6:03pm On Jun 19, 2017
WHAT IS IOTA?

IOTA is a revolutionary new transactional settlement and data integrity layer for the Internet of Things. It’s based on a new distributed ledger architecture, the Tangle, which overcomes the inefficiencies of current Blockchain designs and introduces a new way of reaching consensus in a decentralized peer-to-peer system. For the first time ever, through IOTA people can transfer money without any fees. This means that even infinitesimally small nanopayments can be made through IOTA.

IOTA is the missing puzzle piece for the Machine Economy to fully emerge and reach its desired potential. We envision IOTA to be the public, permissionless backbone for the Internet of Things that enables true interoperability between all devices.


THE TANGLE


The main innovation behind IOTA is the Tangle, a revolutionary new blockless distributed ledger which is scalable, lightweight and for the first time ever makes it possible to transfer value without any fees. Contrary to today’s Blockchains, consensus is no-longer decoupled but instead an intrinsic part of the system, leading to decentralized and self-regulating peer-to-peer network. The Tangle also makes IOTA the first blockchainless Cryptocurrency.


WHAT ARE THE MAIN USE CASES OF IOTA?

IOTA's main features (in its current form) are feeless micropayments and secure data transfer and data anchoring. With these two features, combined with IOTA's scalability and partition tolerance we can derive a plethora of use cases which are mostly only possible with IOTA.

The primary focus area is obviously the Internet of Things, especially in areas such as Smart Cities, Infrastructure and Smart Grid, Supply Chain, Transportation and Mobility. Apart from that, IOTA can also function as the backbone for any peer to peer transactional settlement needs, such as web payments or even remittances.

HOW IS THE TANGLE DIFFERENT FROM BLOCKCHAIN?

1. Data Structure: which enables Iota to perform high transactions with zero transaction fees, fast transactions and confirmation.

2. Consensus: unlike blockchain In IOTA, every participant in the network making a transaction also actively participates in the consensus. More concretely, you are referencing two transactions directly (branch and trunk transactions) and other transactions in the sub-tangle indirectly. Through this, validation is parallelized and the network stay completely decentralized, with no miners to delegate trust to or having to pay a transaction fee.

3. Quantum-secure: Iota is quantum proof, meaning it cannot be hacked by a quantum computer; the next generation of computers that has been predicted to be able to Crack the blockchain when it's finally created. What actually makes IOTA quantum-secure is the fact that they use Winternitz signatures.

4. No mining and can process Nano-transactions: Iota is infinite scalable unlike blockchain, transactions can be made even in Nano units. All IOTA's which will ever exist were created with the genesis transaction. This means that the total supply of IOTA's will always stay the same and you cannot "mine" IOTA's.


WHAT CAN I DO WITH IOTA?

IOTA currently does two things really well: transactional settlement (especially micropayments) and data integrity. Through these two features you can derive most use cases that make sense and are most of the time, only possible with IOTA. More features (such as Oracles, Smart Contracts, etc.) are on their roadmap and will be added in the near future.

The main focus of IOTA is the Internet of Things, with machines paying each other for resources, services or access. This includes smart cities, smart grids, infrastructure, supply chain etc. where IOTA makes certain use cases possible. On this blog you will continue to find more concrete examples of what you can do with IOTA. Look out for a tutorial in your preferred programming language, or even write one yourself.

TOTAL TOKENS IN CIRCULATION AND UNITS


I have attached an image containing the total tokens in circulation and it's units to this post. You can also view it on https://coinmarketcap.com It's number 8 on the list, it just debut some few days ago and have been on the top 10 ever since.

CONCLUSION

This was how the blockchain Technology started with the Bitcoin as it main currency. Experts has agreed that the blockchain is a great technology but retained a believe that it's the foundation of a greater technology, The Tangle is revolutionary, it solves all the blockchain limitations and has been dubbed the Blockchain Successor.

Will the Tangle fulfill it's potential and become the undisputed technology of the Internet of things?
It's looking likely so far; although it's still many years away from full potential and currently behind the blockchain in the adoption market.

Luckily for us we found this early enough to get involved. You can invest in the token and hold for a long time who knows what your few hundreds or thousands of dollars investment will turn into in few years if the project succeeds

Miota is the trading unit of Iota in the exchange market currently trading at $0.389 or 15675 Satoshi per Miota.

IF YOU ARE INTERESTED TO HOLD THIS TOKEN CHECK BELOW FOR HOW TO PURCHASE FROM BITFINEX.

If you are able to purchase some token and you are feeling Generous, You can donate Iota.



IOTA address:

CVSGOEUJSFGTCZDFRVZSASQPTCCGHQVQVNAQYGIDZSIITKISLRCKPPGCFCDREPNYECHKAIJHAXHPTZQPUQRKKHPXUR

Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by Yards(m): 6:08pm On Jun 19, 2017
How To Purchase IOTA

Now that IOTA is officially on exchanges you can buy directly with BTC or USD from Hong Kong exchange Bitfinex. Other exchanges will likely follow soon

STEP 1

Open An Exchange Account Go to https://www.bitfinex.com and open an account

Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by Yards(m): 6:12pm On Jun 19, 2017
Step 2:

After creating your account kindly goto settings and enable 2FA for maximum security. Then proceed to
Deposit BTC or USD To fund your account you will need either bitcoin or USD.

NB: Bitfinex has 3 types of wallets, kindly deposit to the exchange wallet.

Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by Yards(m): 6:17pm On Jun 19, 2017
Step 3: Buy IOTA

Now that your account is funded with Bitcoin or USD. You can head over to trading and select either IOTA/USD or IOTA/BTC.

Input the amount of Iota you wish to purchase base on your available fund.

Kindly change the order form from limit to market for faster transaction.

Place your order and wait for fill.

Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by nurez305(m): 6:19pm On Jun 19, 2017
Yards:
Step 2:

After creating your account kindly goto settings and enable 2FA for maximum security. Then proceed to
Deposit BTC or USD To fund your account you will need either bitcoin or USD.

NB: Bitfinex has 3 types of wallets, kindly deposit to the exchange wallet.
how much is the current price now?
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by Yards(m): 6:25pm On Jun 19, 2017
Currently I still have my tokens on Bitfinex, I'm still learning and understanding the IOTA MOBILE WALLET, after I'm comfortable navigating the wallet i will then proceed to withdraw my tokens from Bitfinex.

You can download the android wallet from Google play store just search for IOTA WALLET.

There's also a desktop or laptop version for Windows, Linux or Apple.

Go here for more details regarding wallet: http://iotaprice.com/iota-wallet.html
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by Yards(m): 6:26pm On Jun 19, 2017
nurez305:
how much is the current price now?

Have stated it in the main post kindly check.
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by JAZES(m): 4:43am On Jun 24, 2017
Yards:


Have stated it in the main post kindly check.

It has moved up from 0.33 to 0.5506 as at today
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by Yards(m): 6:53am On Jun 24, 2017
JAZES:


It has moved up from 0.33 to 0.5506 as at today

If I decide to cash in now I will be making over $500 profit already.
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by omoneg: 10:08am On Jun 24, 2017
Yards:
Step 2:

After creating your account kindly goto settings and enable 2FA for maximum security. Then proceed to
Deposit BTC or USD To fund your account you will need either bitcoin or USD.

NB: Bitfinex has 3 types of wallets, kindly deposit to the exchange wallet.

Hello, where will i see the btc i sent to d exchange wallet on bitfinex?
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by Yards(m): 10:13am On Jun 24, 2017
omoneg:


Hello, where will i see the btc i sent to d exchange wallet on bitfinex?

Goto wallet on bitfinex and check your bitfinix btc wallet
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by omoneg: 12:21pm On Jun 24, 2017
Yards:


Goto wallet on bitfinex and check your bitfinix btc wallet

Thanks alot sir. Ive seen it. I really appreciate. Time to buy now
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by ekwii: 3:36pm On Jun 24, 2017
Yards:


Goto wallet on bitfinex and check your bitfinix btc wallet
I just created account on the bitfinex. But anytime i login and click any other menu to proceed, it will automatically log me out. If i log in again, the process will occur. Please what is the problem? even as i click deposit as you said, it just logout on its own
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by Yards(m): 6:58pm On Jun 24, 2017
omoneg:


Thanks alot sir. Ive seen it. I really appreciate. Time to buy now

Great
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by Yards(m): 6:59pm On Jun 24, 2017
ekwii:

I just created account on the bitfinex. But anytime i login and click any other menu to proceed, it will automatically log me out. If i log in again, the process will occur. Please what is the problem? even as i click deposit as you said, it just logout on its own

That's strange.

Hope you checked your network connection?
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by ekwii: 8:50pm On Jun 24, 2017
Yards:


That's strange.

Hope you checked your network connection?
Other sites are opening and operating normal
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by Najwal: 9:17pm On Jun 24, 2017
Yards:


That's strange.

Hope you checked your network connection?

Thanks to your guide, i just got some iota tokens, but i didn't have btc so i transfer some eth, exchange to btc then exchange to iota, hope to see great things work from this project. Gracias
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by Yards(m): 9:31pm On Jun 24, 2017
Najwal:


Thanks to your guide, i just got some iota tokens, but i didn't have btc so i transfer some eth, exchange to btc then exchange to iota, hope to see great things work from this project. Gracias

If you have patience you will have success.
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by omotech: 9:55pm On Jun 24, 2017
I have created account for the past 3 days with my laptop l didn't see 2FA and deposit, but l saw fundind and l have been trying funding it through my bitcoin wallet but proved abortive, please how do l transfer money from bitcoin to bitfinex thank you.
Yards:
Step 2:

After creating your account kindly goto settings and enable 2FA for maximum security. Then proceed to
Deposit BTC or USD To fund your account you will need either bitcoin or USD.

NB: Bitfinex has 3 types of wallets, kindly deposit to the exchange wallet.
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by Yards(m): 12:43am On Jun 25, 2017
omotech:
I have created account for the past 3 days with my laptop l didn't see 2FA and deposit, but l saw fundind and l have been trying funding it through my bitcoin wallet but proved abortive, please how do l transfer money from bitcoin to bitfinex thank you.

Everything is well listed for easy location

Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by ekwii: 2:26pm On Jun 25, 2017
Yards:


Everything is well listed for easy location
Today as i open my account, it is working fine now. I have deposited bitcoin in my wallet, though not confirmed yet. I will give feedback as i progress. Thanks
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by Yards(m): 2:37pm On Jun 25, 2017
ekwii:

Today as i open my account, it is working fine now. I have deposited bitcoin in my wallet, though not confirmed yet. I will give feedback as i progress. Thanks

OK great
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by silverline4: 9:34pm On Jul 15, 2017
Yard please I want to learn about cryptocurrency from you with some friends.kindly mail me at seyemysee@gmail.com,or send me ur phone number I will call you.
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by adeyinka09: 6:27am On Dec 05, 2017
Yards:


OK great
Hello boss, kindly assist with the two way authentication process.i have tried the sms but didn't receive any code on my phone. Can you please delineate how your fix yours and the option you selected.Thanks
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by ABMC(m): 3:26am On Dec 07, 2017
Guys, this coin is for real. It already $4. Please invest into Cryptocurrencies.
Re: Getting To Understand The Record Breaking IOTA And How To Purchase IOTA Tokens by charlsecy(m): 8:54pm On Dec 14, 2017
Yards:
IOTA is a revolutionary new transactional settlement and data integrity layer for the Internet of Things.
What do you think of IOTA now? Is it worthy to invest in it?

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