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IOTA Forum / Re: what is IOTA?
« on: June 15, 2018, 03:54:05 AM »IOTA stands for Internet of Things Application, and it’s a new crypto technology that facilitates transactions between devices on the Internet of Things (IoT). IOTA addresses the transaction fees and scalability issues of blockchain technologies by getting rid of the block and chain. Instead, in order to submit a transaction to the IOTA ledger, you must verify two other previous transactions.
This method of verification means there’s no central ledger, and there’s no need for miners to power the network.
IOTA is a revolutionary cryptocurrency and platform. It is also made specifically for the concept of internet of things and the IOTA is capable of becoming a transaction fuel that will assure the implementation of smart enterprises.
IOTA also can be integrated in the Internet of Things by performing transaction between points.