IOTA Gives Back Some Gains After Trinity Wallet Rally

IOTA gave back some gains Wednesday, a day after the alt-coin surged on news of the beta release of the token’s new Trinity mobile wallet app. At this writing Wednesday, IOTA was down 4.92% to a market value of $4.26 billion, still good for the ninth spot among all digital currencies.

There is no direct way to buy IOTA with a credit card, debit card, or bank account on any US Exchange. The cheapest and most efficient way to obtain IOTA is to first purchase Ethereum or Bitcoin through Coinbase (Currently Ethereum offers a much lower transfer and exchange fee than Bitcoin.)

The Trinity mobile wallet initiative could increase adoption of IOTA.

“Initially a purely community-driven project, Trinity was adopted by the IOTA Foundation in order to provide assurance to the wider community that the wallet is safe to use, and as free from the threat of user error as possible,” according to the IOTA Foundation blog. “We have subsequently subjected Trinity to 2 external reviews, a threat modelling exercise and a security audit, to ensure maximum security for our users. Any threats or bugs that were identified during these two external reviews have been investigated, and mitigated or patched where required.”

IOTA sets itself apart in how it reaches consensus and how it approaches transactions. Since there are no miners, IOTA relies on each user in network to verify and approve two past transactions. This ensures that the whole network achieves true consensus.

More IOTA News

Last week, IOTA and UNOP revealed a collaboration to bring greater efficiency to operations at the United Nations.

“IOTA’s distributed ledger can provide a greater level of efficiency in the management and tracking of UN documents, supply chains and transactional payments in real-time, with access available to both UNOPS and its partners,” according to a statement.

There are over 2.77 billion IOTA in circulation.