Monday, June 5, 2023

Cryptocurrencies: what is the price of IoT today

IOTA is a virtual currency that is changing the digital currency marketBecause unlike its competitors like bitcoin or ethereum, it is based on a completely different technology. blockchain Where there is no talk of 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, internet of things,

Created by German developers, the digital currency uses a technology o architecture is called confusion The focus is on Directed Acyclic Graphs (DAGs), which among other things are characterized by being friendlier because transactions can be performed with just a mobile phone and a computer, while consuming as much energy as a network. does not do. blockchain,

Furthermore, these operations can be performed by users who work with IOTA and there is no commission for the operations as their users have to make other transactions before their own can materialize.

IOTA technology guarantees that users of this cryptocurrency have a more reliable environment than the network itself blockchain It can give, as the latter allow, that transactions are performed asynchronously, orderly and slowly for security reasons; While Tangle allows to perform parallel operations,

IOTA has a maximum supply of 2 thousand 779 million 350 thousand 283 tokens and The goal is to make micro transactions Up to $0.001 without paying a payment processing fee. Each operation requires a “seed”, a randomly generated 81-character code that prevents theft of funds.

Among its advantages is its resistance to quantum computing, which is millions of times faster than that known today; However, one of its weaknesses is security, as it suffered a hack in 2017, which caused its price to drop and trading volume to drop.

iota cryptocurrency price

Hour: 3:45 PM (UTC Time)

worth: 0.1660896 dollars

Changes in the last 24 hours: -12.78%

change in the last hour: -5.42%

popularity by capitalization: #71

All about cryptocurrency

Physical representation of different cryptocurrencies. (Reuters / Banco Santander)

cryptocurrency foreign elements are ceasing to be and are beginning to enter everyday language, arousing the interest of those concerned about finance or even the degree of being Legal in some areas of the world,

As its name implies, digital currencies They use cryptographic or encryption methods to transact in a regulated system and through most of them block chain ,blockchain), which moves it away from traditional models where banks act as intermediaries.

Its innovation has made many people interested in investing in digital currencies, as their value has increased significantly in recent years. bitcoin, ethereum and dogecoin The most popular and the ones with the largest market capitalization.

Each of these units is produced through a process called “mining” And users can receive them through various agents or virtual currency exchanges, later store them in “cryptographic wallets” or perform various transactions with them through unique keys.

Though It was in 2009 when bitcoin entered the market as the first cryptocurrency in the world.In fact, they are currently experiencing a boom in the financial sector, so it is expected that their use will increase in the near future.

Cryptocurrencies have distinct characteristics that make them unique: Not controlled by any organization, There is no need for middlemen in the transaction; And they almost always use accounting blocks (blockchains) to prevent new cryptocurrencies from being created illegally or from changing transactions that have already been made.

An ATM to buy cryptocurrency. (EFE)

However, in the absence of regulators such as central banks or similar entities They are indicated as unreliable, unstablePromoting fraud, not having a legal framework to support its users, allowing illegal activities to be conducted among others.

Although it may seem a contradiction, cryptocurrency in turn guarantees security to its miners in terms of the network in which it is located (the mesh) and means code management; It is possible but difficult to break this protection Because whoever tried it must have had computational power, even better than Google itself.

Anyone who invests in this type of digital asset should be very clear that this form brings with it high risk to capitalWell, just as it can surge, it can also crash unexpectedly and wipe out the savings of its users.

To store them, users must have a digital currency or wallet, which is actually a software through which it is possible to save, send and transact cryptocurrencies. In fact, this type of wallet only stores the keys that mark the assets and rights of a person to a certain cryptocurrency, so these codes are the ones that really need to be protected.

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