Anycoin Direct adds IOTA
This time we have listed a special coin on our platform. Starting today, the coin IOTA can be bought and traded on Anycoin Direct. Of course, you can also sell IOTA and have the payout transferred to your bank account.
IOTA is significantly different from other cryptocurrencies as it uses the 'Tangle' rather than blockchain technology. The Tangle is a stream of interlinked individual transactions. These Transactions are distributed and stored across a decentralised network of participants. Rather than paying transaction fees or staking coins, the Tangle forces users to contribute to the security and agility of the network by verifying two previous transactions on the network, before processing your own. The structure of the Tangle allows IOTA to be scalable, flexible and transaction cost-free.
● The IOTA Tangle is a Directed Acyclic Graph (DAG) structure and was introduced in the Tangle Whitepaper. Read about DAG here.
● In a blockchain, participants agree on which chain of transactions is correct by looking at the longest chain. Traditionally, forks and branches are discarded, the Tangle however, allows different branches to exist.
● The first transaction in the Tangle is referred to as the genesis and all IOTA tokens were generated in this genesis. About 2.77 billion IOTA tokens were released, no new tokens will ever be created.
● The Tangle does not have a built-in maximum throughput, meaning it is great at scaling and can handle a large influx of transactions at any time.
● Since there are no miners, there are no transaction fees. Each transaction sends the full input amount.
● For full details about IOTA, Tangle and other technologies related to the coin, you may read their Academic Papers.
With the coin IOTA and a brand new Trading feature, we want to bring exciting new possibilities to our customers. Our Coin-to-Coin Trading feature is a big step in enabling safe crypto transactions for everyone residing within the EU. If you want to stay updated with the latest news and updates, keep an eye on our social media channels.