IOTA


A Scalable, Feeless, and Fast transaction platform.

Why Use IOTA?

1. It's fast
Unlike bitcoin, ethereum, and litecoin, IOTA transactions are extremely fast and take only several minutes, at most, to verify.
2. It's cheap
Unlike all other cryptocurrencies, IOTA has absolutely zero fees. This means that IOTA is usable for day-to-day use. No fees means you can also send microtransactions easily.
3. It's scalable
Unlike conventional blockchains, IOTA is infinitely scalable as the number of users increases. No more block scaling drama. IOTA is ready for the transaction load of the world.

FAQ

What is the Tangle?
A Tangle is an alternative to blockchain, where each transaction verifies two other transactions. This allows for much faster asynchronous creating of transactions.
Why doesn't it need fees?
When you send a transaction, you do the (very minimal) work needed to verify two other transactions. This eliminates the need for wasteful miners, and reduces centralization of processing.
How many iotas are there?
Iota has no decimal point; instead, IOTA has SI prefixes for size; Kiloiota, megaiota, gigaiota, etc. An iota is like a satoshi; it is the smallest unit of value. There are 2,779,530,283,277,761 iotas in existence and more cannot be created.
What is a light wallet?
A light wallet connects to a full node, so you don't have to sync the entire subtangle to your computer. Even if the full node you are connected to is corrupt, it cannot take your funds. However, you are encouraged (if you can run a 24/7 node) to run a full node, to contribute to the network topology.

Getting started

1. Download a wallet from the official github
After downloading and running your wallet, you will need to make a seed, which is a string of characters (uppercase letters and the digit 9) up to 81 characters long (you can have longer, but there's no additional security). This seed is akin to your bitcoin private key; write it down somewhere safe and do not lose it! For security reasons, *never* use a seed generator that you can't see the source of, and ensure that the seed generator uses a cryptographically secure random number generator. You can use this generator.
2. Buy Iota
You can buy Iota from bitfinex, and choose to use our affiliate link, or not (you save 10% on trading fees for first month using affiliate code). For Australian users, Iota can also be bought at Coinspot.
3. Get involved!
You can check out the official slack and subreddit, or contribute to the development of iota on the Github. You can also learn about the iota api on github, and build your own apps that run on iota. Or, if you run an online shop, you could start accepting iota as payment!

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