Introduction to IOTA
IOTA (MIOTA) is a distributed network that uses MIOTA as digital currency. Founded by David Sonstebo, Sergey Ivanchelo, Dominik Schiener, and Dr. Serguei Popov, IOTA adds a unique twist to decentralized digital currencies. It is significantly different from other cryptocurrencies because it uses the unique concept of ‘Tangle’ rather than blockchain technology. The Tangle contributes to the security and agility of the network by ensuring that each participant in the network verifies two previous transactions in order to start a transaction themselves. This eliminates transaction fees and makes the IOTA network more secure. The fact that users don’t have to pay any transaction fees on IOTA makes this one of the most flexible distributed networks that can be scaled very easily.