IOTA

coin guide iota info

IOTA

Symbol - MIOTA


What is IOTA ?

IOTA is a cryptocurrency that allows automatic payment from machine to machine.

IOTA Definition

Autonomous machines that pay each other for their work is the innovation of IOTA. IOTA is to become the transaction-system for the networked economy of the future (Internet of Things). The cryptocurrency uses a different technology: instead of the classic blockchain (one transaction string), a network of transaction strings (tangle ledger) is used. As a result, this technology is faster and scalable compared to the classic blockchain. Companies like Bosch and Cisco support and use the IOTA system.

History – IOTA Info

Founded: 2016 by David Sønstebø and Dominik Schierer

– July, 2016: MIOTA began open beta testing

– June 2017: first exchange-listing at Bitfinex

– July, 2017: SatoshiPay uses MIOTA instead of Bitcoin, because Bitcoin’s transaction-costs increased

-August, 2017: MIOTA’s Flash Network became active (supporting extreme high-speed and nano payments) 

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