What is Iota

01 Feb 2018 4:04 PM | Iota
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IOTA is an open-source distributed ledger (cryptocurrency) focused on providing secure communications and payments between machines on the Internet of Things.

Using directed acyclic graph (DAG) technology instead of the traditional blockchain, IOTA's transactions are free regardless of the size of the transaction, confirmation times are fast, the number of transactions the system can handle simultaneously is unlimited, and the system can easily scale. IOTA was founded in 2015 by David Sønstebø, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov.

IOTA has a collaboration with Deutsche Telekom, Microsoft, and Fujitsu,the Foundation opened up a data marketplace using IOTA technology

Courtesy: Wikipedia

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