Presentation and definition of the crypto-currency Iota (IOT)

Presentation and definition of the crypto-currency Iota (IOT)

  • Name of the crypto-currency : Iota
  • Abbreviation : IOT
  • Where to buy IOTA ? Binance
  • Creation Date : October 2015
  • White paper of Iota
  • Website of Iota

The protocol IOTA

IOTA is a protocol that is open-source that allows transaction of virtual money, and the exchange of data. Its technology is fundamentally different from other crypto-currencies, most well-known. Designed in 2015, the particularity of Iota is its operation without blockchain. It is therefore neither blocks, nor chains, nor to minors who are involved in the process.

The technology Tangle

On the network IOTA, exchanges of currency are made through the Internet of Things (IOT) and the technology Tangle. It is also a process completely decentralized as the Blockchain. This revolutionary process allows you to perform transactions quickly and without cost via the connected devices. Tangle also allows you to store data in a decentralized way and thus ensure their protection. The system Iota enables a user to sell data to companies, instantly, without any intermediate body intervenes and removes a part of the transaction.

The validation of transactions

Iota enables a transaction time-ultra-fast and a number of concurrent operations unlimited. It has been designed so as to have a great scabilité : as the network expands, its performance improves. The validation system transactions is quite innovative : to be able to perform a financial transaction on IOTA, the user will have to confirm two other transactions on the network. Thus, the miners and the users form a single entity.

The tokens IOTA

The chips of the network are called the IOTA. An IOTA is the smallest unit of account. The larger units are then created by adding the prefixes : KiloIota, MegaIota, GigaIota…