What Is IOTA?

Launched in 2016, IOTA is a public ledger with no chains, no blocks, and no fees. Its name stands for Internet of Things Application, and instead of a blockchain, it utilizes a new technology called the Tangle. Its underlying currency is called MIOTA, and without any transaction fees, this network is designed extremely well to handle a large amount of micropayments to power the Internet of Things. Why IOTA? While blockchain tech has real-world value, it doesn’t come without its drawbacks. One such drawback is the transaction fee. According to the IOTA whitepaper: The importance of micropayments will increase in the