IOTA is the cryptocurrency created for the IOTA-Ledger (ledger). The network is not on a blockchain because there is no chain in the network that is extended with blocks. Instead, transactions are connected linearly, with the goal of creating a network for communication between machines and systems, also known as the "Internet of Things" (IoT).
Despite not being located on a blockchain, the IOTA network is decentralized. Therefore, the IOTA network works with the Tangle protocol which works with the DAG concept which stands for "directed acyclic graph. This system is very similar to the current banking system only because of the DAG system, the transactions with the nodes that confirm transactions are not linearly connected. This makes it enormously difficult to predict or influence follow-up in a chain.
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The Vault is a safe alternative to the traditional crypto wallet for those who want to buy, sell and swap their coins on Anycoin Direct. Within the Vault you can store all your digital assets and swap them against one another. Still want to send crypto to an external wallet like your Ledger? No problem, the Vault is an additional feature. The choice is yours.
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In 2015, the concept of IOTA was established by the four founders Serguei Popov, Sergey Ivancheglo, David Sønstebø and Dominik Schiener. An Initial Coin Offering (ICO) places already followed in the zeflde year. Thus, the IOTA token was issued also called MIOTA with which the team managed to secure its first funding. In the following year in 2016, IOTA introduced the Tangle protocol which was to serve as the replacement of blockchain. Several also followed and the network received increasing attention from large companies. In the following years, many improvements to the network followed, including scalability and security.
As with most cryptocurrencies, the IOTA coin can be used to conduct transactions. In doing so, IOTA works with the Tangle protocol to make transactions fast, scalable and secure. Also, IOTA payments can be made for Internet of Things (IoT). This allows IoT devices to exchange value among themselves.
IOTA coins also allow administrators to build dApps on the IOTA network. And IOTA owners can participate in the network by validating transactions through strike.
In addition to IOTA, there is also MIOTA, which stands for one million IOTA. The network chose to use this designation because IOTA can only be stored per coin and not like Bitcoin a portion of the coin. So make no mistake, MIOTA stands for 1,000,000 IOTA.
On Anycoin Direct's platform, you can easily store your IOTA in the Anycoin Vault. You are the only one with access to this Vault after you activate it on your personal dashboard. In the vault, you can easily buy and store IOTA. On our website, you can also easily buy IOTA and send it to your personal wallet.