IOTA

IOTA is a distributed ledger technology built on a proprietary architecture called the Tangle, which is based on a directed acyclic graph (DAG) rather than a traditional blockchain. The Tangle was designed to address the scalability and transaction fee issues associated with blockchain-based cryptocurrencies, making it particularly well-suited for the internet of Things (IoT) ecosystem.

Unlike traditional blockchain networks that rely on miners to validate transactions, the IOTA network uses a unique system where each new transaction must confirm two previous transactions. This approach eliminates the need for mining and associated transaction fees, enabling feeless and potentially infinitely scalable microtransactions between devices on the network.

IOTA's native cryptocurrency, MIOTA, has a fixed supply of 2,779,530,283 tokens, which were all created and distributed during the project's initial launch in 2016. The IOTA Foundation, a non-profit organization based in Germany, oversees the development and adoption of the IOTA protocol, collaborating with academic institutions, corporations, and other blockchain projects to drive innovation and continuously improve the technology.

As of April 2023, IOTA has a market capitalization of around USD 706 million, with MIOTA trading at approximately USD 0.25.