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IOTA is an open-source distributed ledger (DLT) and cryptocurrency designed for the Internet-of-Things (IoT). It uses a directed acyclic graph (DAG) to store transactions on its ledger, instead of a chain of blocks like Bitcoin and Ethereum. This graph-based ledger is called 'the tangle'. IOTA does not use miners to validate transactions, instead, users that issue a new transaction must approve two previous transactions and perform a small amount of proof of work. Transactions can therefore be issued without fees, facilitating microtransactions. This makes IOTA unique in this space.

Because IOTA is a permissionless network, anyone (or even better 'anything') can join to add and validate transactions. IOTA supports both value transactions, as non-value transactions (data transactions). IOTA has a dedicated currency called the "IOTA Token" which can be used as a unit of value within the network. The token can be bought at various exchanges.

The goal of IOTA is to set up a layer of trust for the Internet-of-Things. This enables a great number of applications which were impossible in the past, because it was centralized, not scalable, not secure, or it violated privacy rules. Some examples are digital identity, microtransactions (e.g. autonomous machine-to-machine payments), supply chain auditing, and anything else that requires the integrity and immutability of certain data. It can also be used as an instrument to preserve a free and open internet, by improving privacy and security in an open network setting. For more information and examples you can visit the official website as linked below. The development of IOTA is led by the non-profit IOTA foundation which is based in Germany. Several companies have already started projects and proof-of-concepts with IOTA such as Bosch, Jaguar Land Rover, Fujitsu and STMicroelectronics.

IOTA Foundation

IOTA Foundation is a non-profit organization and creator of the Tangle, a permissionless, multi-dimensional distributed ledger, designed as a foundation of a global protocol for all things connected.

Led by a team of talented developers and passionate industry experts, IOTA developed an advanced ledger that moves beyond Blockchain to effectively address the challenges of scalability, energy resource requirements and data security, as well as transaction fees.

With this groundbreaking architecture, the open-source Tangle ecosystem is designed to become the catalyst for new economic systems and business models enabling a convergence of several key vertical industries, including supply chain, mobility and automotive, eHealth as well as smart energy/connected cities.

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