IOTA - The Cryptocurrency That Jumped Into 6th Position

Author: kingscrown

Tags: technology blockchain cryptocurrency news beyondbitcoin

IOTA was the hot topic of yesterday, for most people it “came out of nowhere” and got into 6th spot (today 7) by Market Cap in whole crypto world.

http://i.imgur.com/jgU44JM.png

Currently its trading only on one exchange but a big and badass one - BitFinex so register to get some if you wish.

Sure i remember hack on them and i have been telling you PSA before it happened (sorry too much to browse to find this post) but they are back and have volumes.

To people who didnt get my previous post about 2 wallets issues - PSA means Please Stay Aware, it doesnt mean something will happen for 100%, but means there are signals so its worth doing something to not be sorry later.

IOTA Short Description

http://i.imgur.com/A6lFqDB.png

Okay so its connected to IoT aka Internet of Things. If you never heard of it read more on Wiki - https://en.wikipedia.org/wiki/Internet_of_things

Short Version

http://i.imgur.com/FyW6ipy.png

So based on this concept in the new autonomous Machine Economy IOTA will be the backbone.

The Tangle ledger is able to settle transactions with zero fees so devices can trade exact amounts of resources on-demand, as well as store data from sensors and dataloggers securely and verified on the public ledger. http://i.imgur.com/BZ9Whqn.png Tangle is a scalable, lightweight and zero-fees “blockchain kind of thing” which will let IoT communicate, exchange data and do more than we can think of now. http://i.imgur.com/RfBqKJr.png

Installing Wallet

If you want to get some coins from BFX and hold them off exchange you need to install one of the wallets. https://github.com/iotaledger/wallet/releases The process is simple but you need to enter node, go for BFX one - http://iota.bitfinex.com:80 http://i.imgur.com/krCyFFI.png

Notice - currently when writing the post IOTA withdrawals/deposits are not working but hopefully they will run again soon.

BitFinex Trading

As usual opening price was super high and now its trying to find real one. I believe IoT is the future so this coin should see huge raises when its time comes - just like ETH got.

Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips!