What is IOTA?

IOTA is a revolutionary new distributed ledger technology that is designed to enable secure, low-cost, and scalable machine-to-machine (M2M) transactions.

It is an open source, permissionless, distributed ledger technology that does not use a blockchain or any other traditional distributed ledger technology. Instead, it uses a directed acyclic graph (DAG) structure called the Tangle. The Tangle is a data structure that allows for fast and secure transactions with no fees.

It also allows for scalability as the number of transactions increases. Transactions are confirmed by users in the network who are incentivized to do so with tokens called IOTA tokens. These tokens can be used to purchase goods and services on the IOTA network or exchanged for other cryptocurrencies.

IOTA also has its own cryptocurrency called MIOTA which can be used to purchase goods and services on the IOTA network or exchanged for other cryptocurrencies. The IOTA Foundation, which is responsible for developing and maintaining the IOTA protocol, has also developed several applications such as Masked Authenticated Messaging (MAM), Flash Channels, and Qubic which are designed to make it easier for developers to build applications on top of the IOTA protocol. Overall, IOTA is a revolutionary new distributed ledger technology that enables secure, low-cost, and scalable machine-to-machine (M2M) transactions without any fees or miners.

It has its own cryptocurrency called MIOTA which can be used to purchase goods and services on the IOTA network or exchanged for other cryptocurrencies. Additionally, it has several applications such as Masked Authenticated Messaging (MAM), Flash Channels, and Qubic which make it easier for developers to build applications on top of the IOTA protocol.