IOTA Price (MIOTA INR)

About IOTA

IOTA was designed for IoT — the Internet of Things. The distributed ledger tracks transactions between IoT machines and other devices in the ecosystem. IOTA's creators have agreements with some of the largest firms in the world like Bosch and Volkswagon to use its technology, according to the IOTA website.

It began life as a hardware project, and then went on to solve Bitcoins scaling problems by replacing the Blockchain with a set of IOT nodes, that the developers call Tangle, using the billions of IOT devices that exist.

IOTA also has its own wallet, called Firefly. As the entry-point to IOTA’s ecosystem, Firefly will integrate many of the upcoming features of the IOTA protocol, from tokenized assets and dApp interaction to mana delegation and Identity, according to the IOTA website.