IOTA Technologies for Internet of Things
IOTA is a new technology that can function as a backbone for the Internet-of-Things (IoT). Unlike most of the other cryptocurrencies, IOTA doesn’t use the blockchain technology, instead relying on its Tangle architecture. IOTA uses neither mining nor blocks, its Tangle technology makes transactions faster and secure while getting rid of transaction fees, yet the network stays decentralized. The more users are participating in the process, the faster the system works. Thus the system is solving one of the most significant problems of blockchain where transaction times a getting more extended over time.
IOTA’s ticker symbol is MIOTA. It is a non-mineable coin, that’s open-source and decentralized. This digital cryptocurrency is designed to solve the problem of efficiency and scalable flexibility of micro-transactions used in IoT hardware.