IOTA

IOTA (MIOTA) is another type of digital currency. Unlike competitors, IOTA does not use blockchain technology to perform its tasks. Instead, the platform relies on various IoT applications. Likewise, this platform has unparalleled scalability and endless uses in the market.

The project's founders, Sergei Ivancheglou, Sergei Popov, David Senstbo, and Dominic Schiner, did not initially intend to host a cryptocurrency or even a decentralized network. Instead, IOTA began as a manufacturer of IoT hardware chips. These systems can record and execute transactions between machines and devices in the Internet of Things (IoT) ecosystem.

After recognizing the potential of the Internet of Things network, the company shifted its focus to expanding the decentralized aspects of the technology network. IOTA allows developers to explore more, using different IoT scenarios and features and their relationships. As a result, IOTA plays a pivotal role in further embracing this revolutionary technology.

Internet of Things

Internet-of-Things is a term used to describe the billions of smart devices in the world today. Any device can be "smartened" by adding built-in sensors and the ability to connect to the Internet. Interestingly, the concept of the Internet of Things began in 1981. That's when a group of smart developers from Carnegie Mellon University decided to add sensors to their car dealership.

The Internet of Things started flying in 2007. When high-speed Internet connections and "smart" devices became affordable, stable, and fast. Today, IoT sensors allow companies to save millions on data monitoring and transmission costs. These networks are more popular than ever because they make important business systems simple and automated in unimaginable ways.

How does IOTA work?

In theory, IOTA is very simplistic. This platform acts as a bridge between IoT devices. In general, the network can transfer data in the IoT ecosystem to connected devices. The network is also capable of executing complex, multi-device smart contracts directly.

MIOTA token

MIOTA is the main token of the IOTA domain. This digital currency is used to calculate transactions, pay fees and start smart contracts. A total of 27 quadrillion IOTAs will be produced over the life of the project.

Benefits of investing in IOTA (MIOTA)

There are many benefits to investing in IOTA. In the first stage, network design eliminates all transaction costs. In addition, the network is very fast. IOTA has almost unlimited scalability. It is also much more efficient than blockchain-based digital currencies.