What is IOTA?
IOTA is an feeless permission-less open source distributed ledger which is especially built for Internet Of Things applications. The core advantage of the payments performed in IOTA cryptocurrency is the absence of the fees when transferring funds between different devices.
The process of IOTA creation was launched in 2015. The purpose was to integrate the altered blockchain to the “Internet of Things”, maximizing the efficiency of the payments made between the parts of the IoT devices. After the system was launched, the period of beta-testing began; it lasted the greatest part of 2016. Though during the mentioned period of time, IOTA was functioning as a payment system, it was possible to buy/sell it only in the off-market space. IOTA listing on the cryptocurrency platform was postponed till the mistakes were fixed and all the testings completed. IOTA Foundation has all the proprietary rights for IOTA technology.
The effective payment system was created by 2017 due the efforts of the developers team. The system ensures the rapid, secured, and free of charge transactions between the IoT devices. It also has a good scaling potential. The coin achievements were not left unnoticed by such major venture investors as Outlier Ventures, for instance. Moreover, SatoshiPay, a micro-payments service, has turned to a decision to make payments with the help of IOTA. Certainly, the Foundation did succeed in establishing of partnership, and business relationships. IOTA coins have been listed on the number of exchanges since the summer 2017; the number of these exchanges is growing continually. The Foundation initiated the work of the data market based on IOTA technology in November 2017. The project gained the attention of some major corporations, and scientific organizations. This news couldn’t but affected IOTA coin rate positively. As the coin develops, it is no longer regarded only as a narrow focus specialized network for transactions in the “Internet of Things”. IOTA is likely to become competitive along with the other cryptocurrencies on the micro-payments market. Nevertheless, technology is still under development. The number of people willing to buy IOTA for investing is also changing.
Link : https://www.iota.org/