How is MIOTA coin trading while the main IOTA network is paused?

How is MIOTA coin trading while the main IOTA network is paused?

By Aldiwani | Technology | 29 Feb 2020

The main network of IOTA has been off for two weeks now, however MIOTA's currency is still trading normally.

The question that arises at this stage is: How?

After discovering that Trinity's wallet was compromised on January 25th, the “Coordinator” network, a node managed by IOTA to protect the network and confirm transactions, and to prevent breaches, was shut down.

Stopping the IOTA network… and stealing cryptocurrencies worth between $ 300,000 and $ 1.2 million

The status page created by IOTA to keep users informed of developments is that the main network is still down.

However, it appears that the "MIOTA" currency is still trading normally and is done without any major hassle.

At the time of writing this article, "MIOTA" is trading at $ 0.21, with a total market value of $ 602 million.

Back to the answer to the question posed in the topic title How is MIOTA coin trading while the IOTA main network is paused?

According to the source , the cryptocurrency trading platforms do not perform operations on the main network, and this means that when someone purchases something on the platform, the transaction is not signed on the main blockchain of the currency, as the trading platforms have their own internal bookkeeping mechanism that creditors trade Again a large ownership of a particular coin.

For this reason, platforms can still trade the IOTA in their order books, but it can be seen that deposits and withdrawals are disabled.

This is confirmed by trading platform that supports MIOTA coin that it already maintains its bookkeeping mechanism.

Cryptonews spokeswoman Mary Tateboat said:

Users are still able to trade IOTA on but most digital currencies are closed on the network.

Discussing how IOTA trades when a network is suspended is also active online, as commentators offer different interpretations.

Encryption researcher Hasu explained the matter by saying:

The offer on trading platforms is still possible due to the lack of trading on the main network of IOTA.

Another agreed, saying:

IOTA can still trade inside the platform blockchain.

“Graeme Moore” from Polymath explained:

IOTA trading platforms are located in one portfolio, and the internal data tables of the platform are updating their client.

While a controversial question was asked regarding:

Fees accumulate, so if IOTA dies the question is will the trading platform continue to frame your overall position in another currency to cover the trade fees due on it.

Nick Carter, co-founder of Coin Metrics, explained that it is about:

Limited offer on trading platforms.

Basically the IOTA currency is unstable, so price differences between trading platforms will eventually appear.

The most popular platforms that trade IOTA currency:

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