What is the Iota coin?

The IOTA project also has its own cryptocurrency, too, which is called MIOTA. However, to keep things simple, I will refer to it as the IOTA coin! Before IOTA officially launched, it raised funds through an initial coin offering ( ICO ). In total, the project received more than 3000 Bitcoin, which at the time was worth $434,000.

Is Iota a good cryptocurrency?

As with most cryptocurrencies, IOTA’s system is nascent and unproven. A phishing attack on its network resulted in the theft of MIOTA worth $3.94 million. In response to the attack, the IOTA development team wrote a blog post outlining steps to generate a strong seed for using its cryptocurrency.

What is MIOTA & how does it work?

MIOTA is the native cryptocurrency of IOTA, which is a blockchain-based project that aims to conduct transactions between machines and devices that are connected to the Internet of Things (IoT), a term that refers to a system of smart devices like Alexa speakers that share data and information between one another.

What is an IOTA wallet?

Wallets hold a set of keys that are used to access your funds – private and public key. The official wallet for IOTA is the GUI IOTA Light wallet (Which is pretty much the same as the official Web Wallet).