IOTA
Built for the next generation of the digital revolution called the Internet of Everything
There are four important names behind the MIOTA project. Dominik Schiener, Sergey Ivancheglo, David Sønstebø and Dr. Serguei Popov.
"Internet of Things"
The existence of the IOTA coin is directly related to the problems and promises of solutions of the technologies that are gaining momentum today.
IOTA does not use the blockchain technology used by most cryptocurrencies. Instead, it uses a new data structure known as Tangle, which is based on the directed acyclic graph (DAG) architecture. Tangle is another type of distributed ledger technology designed specifically for the IoT ecosystem. Unlike blockchains, Tangle facilitates fee-free payments regardless of transaction size and has eliminated miners and blocks.
The most important difference between IOTA's Tangle and the blockchain is that while the blockchain stores transactions in sequential chains, Tangle stores transactions in intertwined streams. Tangle’s unique transaction verification method is the reason for this. Essentially, to validate a transaction, a transaction creator must verify two random previous transactions on the network through a simple Proof of Work (PoW) process.
IOTA Advantages: Scalable, Decentralized, Modular, and Zero transaction fees
IOTA is specifically designed for use in connected machines and devices. Due to its scalability and zero transaction fees, IOTA’s network could theoretically facilitate data exchange with IoT-connected devices worldwide. As such, IOTA is positioned in sectors such as mobility, industrial IoT, and eHealth.
Market Cap 432.7 M
Circulating Supply 3. 46 B IOTA
Maximum Supply 3. 46 B IOTA
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