IOTA is a free spirit in the world of blockchain delivering an open-source distributed ledger and cryptocurrency for the use of the Internet of Things (IoT). IoT is a system, where physical objects connect and exchange data with other devices and systems over the internet (or other communicative networks). IOTA differs from many rival protocols by its unusual design notable for its data structure innovation known as “Tangle”.
IOTA aims to create seamless value and data transfer through feeless transactions, low resource demands, and immutable data through its protocol. All this is crucial in democratizing and powering these IoT systems. According to IOTA’s own words, as stated on its website, IOTA aims to “re-engineer distributed ledger technology and enable secure exchange of both value and data, without any fees.”