IOTA, an open source cryptocurrency designed for the Internet-of-Things (MIOTA) industry. It does not use Blockchain technology like Bitcoin, but a new technology called Tangle. By virtue of Tangle, IOTA allows new possibilities, such as 0 transaction fees, infinite scalability, but also secure data transfers.
IOTA is a cryptocurrency that will be mainly used for micro payments of connected objects (Internet of Things). It is is a virtual currency of micro-transactions optimized for the Internet-of-the-objects. Choose a sensor for which you want to obtain the measurements, for example, the quality of the air, the soil, the weather, a charging station measures produced locally by different organizations or specialized companies. Through micro payments, you can access these feeds directly to feed reports and data-hungry applications. Similarly, a connected device or object can directly obtain the same information in real time as resources for its various tasks. With IOTA interoperability and sharing of resources between connected objects becomes natural and fluid.
Starting off at 50.85 INR on 1st September 2017, IOTA gained momentum for the next few weeks and stabilised at 40.44 INR.
Although there were a few technical glitches on the IOTA network. The team fostered the network performance after a temporary shutdown to prevent attacks by bugs. Following which IOTA had released their latest GUI wallet which was well received in the IOTA community. Post which IOTA token reached 25.19 INR on 31st October 2017.
Followed by a malicious attempt to steal IOTA tokens which led to the IOTA team's reckoning spirit to process returns in a custodial manner, IOTA started off at a price of 25.43 INR on Nov 1st 2017, following the above trends IOTA finally reach 86.07 INR on 30th Nov 2017.
On 28 November 2017, the Berlin-based IOTA Foundation launched its marketplace (public data market), increasing the attractiveness of the product to a level never seen before. The initiative has attracted the attention of many media outlets and brought together various academic research groups around the world and especially dozens of leading industrial companies such as Deutsche Telekom, Bosch, Microsoft, PricewaterhouseCoopers, Accenture, Fujitsu and Schneider Electric to name a few.
Following the above trends IOTA finally reached 243.17 INR on 31st Dec 2017.
After a splendid growth in 2017 IOTA has partnered with International Transportation Innovation Center (ITIC), to collaborate with them to work on autonomous vehicle test beds which was well received in the market and lead to enormous IOTA finally attained 263.90 INR on Jan 8th 2018.
Initial price on 1 January 2018 was INR 260.57 and then IOTA finally reached INR 140.62 on 31 January 2018.
Starting off on 1 February 2018 at INR 144.82, IOTA was trading at INR 125.14 on 28 February 2018.
The IOTA token is issued on the string "TANGLE" (entanglement), a distribution of sites connected in P2P (peer to peer) as for other virtual currencies; except that this chain has no block. Every piece of information or data entered in the TANGLE chain is inviolably distributed with the use of sophisticated algorithms that make it immutable and resistant against all sorts of attacks, including those that can arise from malicious computers, with phenomenal computing capacity. The TANGLE is evolutionary, lightweight and integrates into native, a consensus algorithm, a computer method of integration of a transaction in the chain that makes it unique, immutable and transparent on all nodes
The protocol also allows for micro-payments without commission or fees. It is able to compensate between transmitter and data users, integrate data between connected objects with exact amounts of on-demand or run-time resources, as well as store data from logging sensors. secure and verified way on the chain. These features optimize machine-to-machine, object-to-object micropayment with smooth data flow. As such, the IOTA token is a modern fuel for performance and interoperability.
The prices fluctuate based on local demand and supply.