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