What IOTA Is All About In Cryptocurrency


IOTA is one of several cryptocurrencies that made making waves in the latter half of 2017 as the digital currency market boomed.
Here's everything you need to know about it, and how much it's worth today…
What is Iota?
Iota – which stands for Internet of Things Application – is a cryptocurrency, similar to Bitcoin.
But it is different in certain key ways.
Bitcoins aren’t printed, like pounds, dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world.
To process Bitcoin transactions, a procedure called “mining” must take place, which involves a computer solving a difficult mathematical problem with a 64-digit solution.
For each problem solved, one block of Bitcoin is processed.
Iota, on the other hand, removes the need for this by asking anyone submitting a transaction to verify two other random transactions.
It all sounds quite technical but it basically means it is decentralised, there’s no fee for transactions and the more people using Iota the faster the network becomes.
How do I buy Iota?
You can buy Iota by using something called a crypto exchange – the same as if you were buying other cryptocurrencies.
The main difference with Iota is that it is not available to buy directly with traditional cash – you can only trade it for another cryptocurrency.
That means if you want to get your hands on some Iota, you first need to acquire something like Bitcoin or Ethereum.
Some of the most popular options for buying these are Coinbase, Blockchain.info and Xapo.
You can then trade them on certain crypto exchanges for Iota.
There are currently only two exchanges with significant trade volume of Iota – Bitfinex and Binance.
Bitfinex is based in Hong Kong and is better for non-US customers.
But anyone thinking of investing in Iota or any other cryptocurrencies should be very careful.
Their values are volatile, with the ability to plummet as quickly as they shoot up.
And investors are frequently targeted by hackers and other criminals who seek to steal their crypto-cash online.
Is Iota as valuable as Bitcoin?
Iota is a newer currency which – trading as "IOT" – was worth £1.37 ($1.91) on February 21, a tiny fraction of Bitcoin at £7927.40 ($11036.33).
The currency has been struggling since the possibility of regulation in South Korea was announced, and slumped to a price of just £1.01 ($1.41) on February 6.
Iota is some way shy of its December high of £3.77 after suffering from a massive crash over January 2018.
IOTA is one of several cryptocurrencies that made making waves in the latter half of 2017 as the digital currency market boomed.

Comments

Post a Comment

Popular posts from this blog

Check Out The Best Spy Software For Cell Phone In 2018

Picking the best phone spy software can be tricky. There are dozens of excellent phone trackers out there. Fortunately, I'm here to help. I've worked as a private investigator for the past 15+ years. I use phone trackers almost every day. Today, spy apps can be used to track somebody without their knowledge. They're very popular even outside the law enforcement community. Some of the top spy software users are parents. It's a dangerous world out there, and parents want to make sure their kids are safe at all times. Good phone spy software lets you read text messages, track photos, monitor social media, track location data, and even record phone calls. Today's best spy software will record all data online where you - as a concerned parent or spouse - can quietly access it. Some of the spy software on this list can even record ambient noise through the microphone or remotely take a photo using the phone's camera. With that in mind, let's take a loo
Read more

How To Protect Your Data From Ransomware

Unless you avoided reading or listening to the news last year (and with everything going on in the world who can blame you), you no doubt heard reports of ransomware attack after ransomware attack occurring in 2017. This type of hacking issue, where cybercriminals break into individual or company systems and hold data for ransom, is rife right now, and according to one report, actually increased almost ten-fold last year. As such, no matter which industry you work in, and whether you’re an entrepreneur, freelancer, contractor, or employee, it’s imperative to keep all your important information safe from prying eyes, and from downtimes as a result of it being held captive. Read on for some steps you can take to avoid a ransomware attack this coming year. Install Security Software and Firewalls First off, one of the simplest things you can do to protect your data is to install top-quality security software on all the devices you use. There are many different products on the market
Read more

Hardware Zone Forum hit by security breach and profiles affected

Approximately 685,000 user profiles were affected when the HardwareZone (HWZ) Forum website was hit by a security breach, the site's owner SPH Magazines said in a news release on Tuesday (Feb 20). A suspicious post on Sunday prompted an investigation to ascertain whether a security breach had occurred, the news release said. The probe showed that a senior moderator's account had been compromised by an unidentified hacker, and used to access the user profiles since September 2017. "The hacker used the compromised credentials to impersonate the senior moderator to retrieve user profile data which comprised name, email address and user ID, and possible optional data fields," said SPH Magazines. It added that the database of the online tech portal did not contain NRIC numbers, telephone numbers and addresses as these had been purged in line with the Personal Data Protection Commission (PDPC) guidelines in July 2015. As a matter of precaution, forum users were
Read more