The IOTAUSD instrument contains the Iota token and the US dollar. Unlike other crypto coins, Iota is a digital currency that uses Tangle instead of blockchain technologies. The developers say Iota does not compete with Bitcoin but enlarges the blockchain potential.
Tangle allows users to conduct a bigger number of micro-transactions without a commission and is therefore used in the Internet of Things (IoT) to transfer data across various devices. In the future, this technology will be used to develop smart cities, confirm the authenticity of things, store a digital personality, and in international commerce. For example, the app developed based on the Iota technology — EnergyKnip — helps citizens of Emmen in the Netherlands exchange data about energy-saving measures and receive digital points to buy energy-saving devices.
The main feature of the Iota platform is its social and scientific potential. The technology can be used in various sectors, and this cryptocurrency is guaranteed a big future and stable growth. So, besides market capitalization, the token's cost also depends on the news about Iota-based projects.
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