Leading Founders: David Sønstebø, Sergey Ivancheglo, Serguei Popov, and Dominik Schiener
Founded: The first project announced in 2015
Main Network Launch: June 2016
Issue size: 2.78 billion MIOTA
IOTA (transaction code: MIOTA) is a cryptocurrency designed for the Internet of Things. It focuses on solving the problem of machine-to-machine (M2M) transactions, and constructs new machines by implementing M2M no transaction fees and guaranteeing data integritym.
Unlike other cryptocurrencies that use blockchain technology, IOTA uses “Tangle” which based on a Directed Acyclic Graph (DAG) rather than a blockchain. When more people use Tangle, the transaction will be safer and the speed will increase. Therefore, IOTA is particularly suitable for data exchange of the Internet of Things, as well as micropayments with low amounts but high transaction frequency.
Other features of IOTA include high scalability, low resource requirements, and offline transactions.