IOTA

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Open-source distributed ledge providing a platform for secure payments and communication between machines and the ecosystem of the Internet of Things (IoT). Instead of the traditional blockchain, IOTA utilizes Tangle, a new technology based on a mathematical concept known as Directed Acyclic Graph (DAG).  As IoT devices continue to gain widespread adoption, IOTA hopes to serve as the platform through which these machines can communicate and transact with each other without requiring human interference. IOTA has gained a slew of noticeable partnerships from well-established corporations including Microsoft, Samsung and Volkswagen. In the near future, IOTA is projected to have several real-world applications in the new IoT sector including IoT based telecommunication systems, interactive maps, public transportation and automobile communication systems.

Features:
  • IOTA utilizes tangle; a unique distributed ledger data structure based on Directed Acyclic Graph (DAG)
  • Near limitless scalability due to the nature of Tangle, which allows users to perform and validate transactions in the system
  • Zero transaction fees due to absence of block data structure, mining/miners
  • Enforces network consensus by ensuring that every transaction is authenticated with two other transactions
  • The MIOTA cryptocurrency governs and guides the evolution of the IOTA ecosystem
  • MIOTA cannot be mined and has a fixed number of coins in circulation
  • Implementation of unique IOTA modules and second layer communication protocols like Masked Authenticated Messaging (MAM) makes IOTA invulnerable to quantum computing
Founded:
2015

Country:
Germany

Website:
https://www.iota.org

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