IOTA is a project that deserves review due to the token making it to top gainers chart on coinmarketcap. Nowadays, the cryptocurrency world is being driven by memes, shitcoins and non-functional tokens, created on several different networks and blockchains, which serve no purpose at all other than tricking users into trading those assets to create market fluctuations that are backed by no specific reason at all and are all artificially made. This mess must come to an end, and cryptoandreviews.com is here to do that.
The benefits of IOTA are closely linked to the utility of the tokens which will be reviewed on this article.
Cronos, PancakeSwap and The Sandbox all had a quick run up when they were introduced into the market. Many people invested in the initial idea while others didn’t. You know the rest of the story as of today.
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A lot of investors have hurriedly delved into investing on a project they have little knowledge about Due to Fear Of Missing Out. So on this article, we will review IOTA token by explaining what the coin is about, tokenomics, roadmap, ICO, staking insights of the project, listing the pros and cons, the supply and how legit/safe the token is for investment.
What is IOTA?
IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains — and an ideal footprint for the ever-expanding Internet of Things ecosystem.
Because there’s no blockchain, there are no miners, and because there are no miners, there are no fees. Many established networks see costs balloon when congestion intensifies, but IOTA aims to provide limitless throughput at minimal expense.
In time, IOTA’s goal is to become the de facto platform for executing transactions between IoT devices. Given how estimates suggest there could be 20.4 billion such devices out there by 2024, this could end up being big business.
The team behind IOTA believe that the potential use cases don’t end here. They believe their distributed ledger could deliver digital identities to all, result in car insurance policies that are based on actual usage, pave the way for cutting-edge smart cities, deliver seamless global trade and prove the authenticity of products.
Originally known as Jinn, a crowdsale for the project was held in September 2014, and the network officially launched in 2016.
Who Are the Founders of IOTA?
IOTA has four co-founders, and their names are Sergey Ivancheglo, Serguei Popov, David Sønstebø and Dominik Schiener.
According to the IOTA Foundation, the initiative has rapidly grown since then — and team members are now based across more than 25 countries.
Sonstebo and Schiener are collectively co-chairmen of the board of directors, while Popov is a board member and the foundation’s director of research.
There are 2.78B MIOTA in supply worldwide.
Pros and Cons of IOTA
Pros of IOTA
- There is a surge in the market price currently
- Project whitepaper available
- There is a community
- Contract on Binance Smart Chain
- They are fully decentralized
- A lot of investors are ‘flocking’ to invest
- It is listed on coinmarketcap
- Good navigational website – IOTA
Cons of IOTA
- The coin is still under research and development
- Multiple issues with its synchronizations between ledgers
- Not listed on some exchanges
- No Github profile
- They have no reddit account
- No Bitcointalk thread created
- No traceable features on tradingview
Is IOTA Legit or Scam?
A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.
According to research and reviews, IOTA have developed a problem solver but with a weak back up for the token they produce. Going through their community and roadmap about their project, their visions and aims have so far been achieved.
Is IOTA Safe?
Being willing to invest in any token is a question entirely up to you to answer. IOTA token has a formidable team and vision to backup their digital assets and project. The project will succeed but depends if the team keeps the vision active and alive.
Make personal research on the coin, visit coin’s official website.
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