IOTA is an open-source distributed ledger (cryptocurrency) focused on providing secure communications and payments between machines on the Internet of Things. IOTA is not Blockchain technology. IOTA is using directed acyclic graph (DAG) technology instead of the traditional blockchain, IOTA’s transactions are free regardless of the size of the transaction, confirmations times are fast, the number of transactions the system can handle simultaneously is unlimited, and the system can easily scale.
Blockchain technology was pioneered by Bitcoin and all other cryptocurrencies that followed by using blockchain are considered Altcoins (Alternative Coins). IOTA pioneered the Tangle technology. Technically speaking IOTA is now the Bitcoin of 2009.
You can send any amount of IOTA for FREE.
There are many misconceptions about the supply of IOTA. The final supply of BITCOIN is 21 million. The final supply of IOTA is 2.79 million GIOTAS.
1 IOTA is the smallest divisible portion of this cryptocurrency. For example, you can own 0.0000001 Bitcoin. With IOTA the smallest unit is 1 IOTA. You can never own less than 1 IOTA, unless you have zero.
IOTA uses the SI system of measurement, if you understand basic computer measures then you would know : 1 byte – 1 Kb – 1 Mb – 1Gb – 1Tb…
This is the supply of IOTA:
IOTA= 2.779.530.283.277.761 ( 2.7 Quadrillion)
KIOTA = 2.779.530.283.277 (2.7 Trillion)
MIOTA = 2.779.530.283 (2.7 Billion )
GIOTA = 2.779.530 (2.7 Million )
TIOTA = 2779 (27 Hundred)
1KIOTA = 1000 IOTAS
1MIOTA = 1000 KIOTA OR 1 Million IOTAS
1GIOTA = 1000 MIOTA OR 1 Billion IOTAS
1TIOTA = 1000 GIOTA OR 1 Trillion IOTAS
1 IOTA = 0.00000107931 USD
1 KIOTA = 0.00107931905 USD
1 MIOTA = 1.08 USD
1 GIOTA = 1080 USD
1 TIOTA = 1.08 Million USD
Values are based on the current market cap of +- 3 Billion USD and obviously fluctuate.
All current exchanges trade IOTAS in the MIOTA scale. If you are sending funds from your wallet be aware of the measurement units.There is also PIOTA but realistically no one will ever have 1 PIOTA.
As a matter of comparison, if IOTA ever reaches the market cap of Bitcoin today: 1 MIOTA would be worth 60 dollars. 1 GIOTA would be worth 60 Thousand dollars.