The exact total supply of IOTA is 2,779,530,283,277,761 units. This value is optimized for ternary computation and can be expressed as 2.779 x 1015. The total supply is based on the 33 digit ternary number 111,111,111,111,111,111,111,111,111,111,111.
IOTA is a non-inflationary currency in that there is a fixed amount of tokens in circulation and the protocol doesn't algorithmically create additional supply.
This amount is currently 333-1/2 or 2,779,530,283,277,761 iota -- but it can be changed when necessary. This has happened in the past and involved all existing balances to inflate along with it.
To your point, one IOTA is currently the smallest possible increment of supply.
If IOTA increases in value to the point where microtransactions and streaming real time payments become infeasible, the developers have clarified that they will add smaller denominations of IOTA. As IOTA doesn't work well with decimals, they will dilute the supply. By that, I ...
There is no way to really burn IOTAs. But you can send IOTAs to an address to which nobody has the private key to:
this address already has 5 IOTAs. They are basically destroyed now because the chances that somebody will ever find out the private key to this address are ...
Here are some properties of IOTA:
Scarce: has a finite limit
Can be used to purchase things instantly and without fees: cheaper to make purchases for both buyer and seller, creating value over credit cards and paypal
Can be used without human operator: machine to machine transactions
IOTA does money BETTER than current options, therefore, people are ...
I don't think it is possible to give a proper answer to this question, as we are lacking benchmarks from high-end hardware.
I will, however, try to estimate a value:
My GPU, a Nvidia GeForce 730 takes 24 seconds (2,5/second) on average to attach an address to the tangle. I measured this by using the light wallet on an idle Windows 10 PC. I started the ...
Unfortunately direct USD to IOTA isn't available yet, you will need to buy another crypto-currency first, transfer it to an exchange that trades IOTA and trade it there. The best/cheapest way to buy IOTA differs from moment to moment and can be found on https://iotaprices.com/ - This includes instructions on how to do so. Buying Ethereum is currently ...
There is no way to literally burn IOTA in such a way that the total supply is reduced. The only thing you can do is send IOTA to an inaccessible address.
You have two options:
1) Generate a seed, put it into the wallet, create an address, and send the IOTA to that address. Do not save the seed anywhere, then close. You will never be able to access these ...
How to Purchase IOTA in the US
Overview on how to purchase IOTA in November of 2017 in the US. For the sake of simplicity I am going to use Ethereum (ETH) as an example. Bitcoin (BTC) could also be used here (w/ higher fees).
Create a Coinbase Account (recommend 2-factor authentication)
Create a GDAX Account (owned by Coinbase, same market)
Link a new bank ...
Don't forget that when you buy from an exchange the default unit is MIOTA (1 million IOTA)
PS: Just for comparison, the total amount of Bitcoin is 21 million but if you take the smallest subdivision (Satoshi) in order to compare with Iota the smallest subdivision of IOTA it goes like this.
2,100,000,000,000,000 Satoshi -- 2,779,530,283,277,761 Iota
Currently, other than supporting the community (or if you're a business implementing the Tangle internally) there is little incentive to run a full node. The expectation is that the introduction of Qubic (no ETA) will also bring incentives to run full nodes.
Once m2m economy requires more fine-granular payments (even less than 1 iota maybe) the founders stated that the supply would be increased proportionally to the owners' stake. They wanted to avoid having comma-values in iota ever since.
Also Integer values are easier to handle by low-range iot devices than floating point calculation
Surely there is a point ...
Interesting topic for the protocol. Currently I think it would be suitable if you use the messages for it. You have then just to include tax rate etc. You can also use encryption for it. Iotas masked messages feature could be used for this topic: https://blog.iota.org/introducing-masked-authenticated-messaging-e55c1822d50e
Source of information: mainly youtube presentations of the project. The white-paper presenting the Peaq project in details is currently under review, but should be available in december. (1/12/2017)
Creating a token with Peaq consist of a single transaction on the tangle were you declare the total amount of token.
The data of the Peak protocol is embedded ...
1) Buy BTC or LTC from CoinBase
2) Transfer BTC or LTC to CoinSpot
3) Buy IOTA with BTC through CoinSpot
4) Send IOTA from CoinSpot to your IOTA wallet
(CoinSpot is an Australian exchange you might be more comfortable using as a US citizen than an Asian based exchange)
In order to send value over the IOTA network you must use the IOTA token/coin so it will have stored value. Also, the value of the services offered over the network and the value of the sensor data available from devices over the network will give it market value. Another way it has value is from the exchange value with other cryptocurrencies on exchanges as ...
I was in discord around the time this was originally posted. I figured someone would have provided the answer right after we discussed it...
@Come-from-Beyond brought it up himself, and he said that it was a good write-up, and question, but he was concerned that the answer was too simple.
Java (the language it was first implemented in) uses 4 bytes for an ...
Since I am not CfB, I cannot guarantee that my answer aligns 100% with his vision but this is my understanding of it:
1. Functionality of distributed coordinator in Cluster 0
Yes, exactly. The entities don't have to be companies, but it's very likely, that they will be.
2. Need of coordinator(s) in other clusters
I don't know if Cluster 0 will need a ...
The only explanation I can think of here is that you pay less fees (50% reduction) using BNB Binance coins than any others, which is the main incentive to use them. You will need to be more specific in giving examples to explain what you mean by 15%.
All three options are possible. You might need to combine some technologies though.
Just wrap a login around accepting transactions. IOTA is on the transport layer. Wrapping OSI layers is age old.
You can't add fees but you can issue fee transactions to the user and bundle them to the network.
Donations are technologically decoupled so they would work as ...
I think you should buy some bitcoin or ether on any exchange, and then You can buy IOTA tokens on Bitfinex.com or www.binance.com. Is what i did actually I've bought some ether on coinhouse.com and then use it to buy IOTA on bitfinex
At the moment there are no exchanges that exchange USD for IOTA. Your best (also fastest and cheapest) method would be to exchange USD for LTC on Coinbase, then send the LTC to an exchange that trades LTC, BTC, and IOTA such as Bittrex or Binance. Once your LTC is moved from Coinbase to the other exchange, sell the LTC for BTC, then use the BTC to purchase ...