As the name suggests, IOTA (MIOTA) is an open-sourced and decentralized cryptocurrency with a special focus on Internet of Things (IoT) technology. It is running on a directed acyclic graph (DAG) system which helps transactions between machines. It was started as a non-profit organization with an aim to become the market leader of IoT related blockchain technology arena. IOTA (MIOTA)’s design supports tangle technology, and this technology gives unlimited scalability and a cost that is affordable.

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