What exactly Is IOTA? Back to list

Member SinceJul 08, 2021

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Sterling

Jan 11, 2022 a 12:42
When it comes to the Internet of Things (IoT), IOTA (MIOTA) is a distributed ledger designed to record and execute transactions between machines and devices that are integrated into the IoT ecosystem. The ledger uses a cryptocurrency known as MIOTA to keep track of transactions on its network. The most significant invention of IOTA is the Tangle, a network of nodes used for transaction confirmation. According to IOTA, the Tangle blockchain is both faster and more efficient than traditional blockchains, which are commonly used for cryptocurrencies.

The IOTA Foundation, a non-profit organization that is responsible for the ledger, has helped major corporations, including Bosch and Volkswagen, create partnerships that will increase the usefulness of the platform among connected devices.

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