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IOTA

open-source distributed ledger and cryptocurrency

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About IOTA

IOTA is an open-source distributed ledger and cryptocurrency designed for the Internet of things (IoT). It uses a directed acyclic graph to store transactions on its ledger, motivated by a potentially higher scalability over blockchain based distributed ledgers. IOTA does not use miners to validate transactions, instead, nodes that issue a new transaction on the network must approve two previous transactions. Transactions can therefore be issued without fees, facilitating microtransactions. The network currently achieves consensus through a coordinator node, operated by the IOTA Foundation. As the coordinator is a single point of failure, the network is currently centralized.

Facts from Wikidata (CC0). Image by IOTA Foundation via Wikimedia Commons (Public domain).

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Inception: June 11, 2016
Website: https://iota.org/

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