The IOTA foundation launched in 2015 to develop the IOTA network. IT raised 1,300 bitcoins through an ICO (Initial Coin Offering). IOTA’s token, the MIOTA, has grown to become one of the largest cryptocurrencies.


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Key Facts

  • IOTA wants to be the cryptocurrency for the Internet of Things and power machine to machine transactions.
  • According to IOTA’s website, the main innovation is the Tangle ledger which is blockless, scaleable, light weight and can transfer value without fees. Contrary to other blockchains, consensus is no longer decoupled but an intrinsic part of the system, leading to a decentralised and self-regulating peer to peer network.
  • Network transaction speed on IOTA grows with activity. IOTA grows via transistors and not miners or stakers.
  • MIOTA is not mineable and both its circulating and maximum supply are 2,779,530,283 MIOTA.

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