IOTA is an open-source distributed ledger (cryptocurrency) focused on providing secure communications and payments between machines on the Internet of Things. Using directed acyclic graph (DAG) technology instead of the traditional blockchain, IOTA's transactions are free regardless of the size of the transaction, confirmations times are fast, the number of transactions the system can handle simultaneously is unlimited, and the system can easily scale. IOTA was founded in 2015 by David Sonstebo, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov. IOTA is overseen by the IOTA Foundation, a non-profit dedicated to developing the technology and maintaining it license-free for all developers to work with. The Foundation has established a collaboration with Volkswagen and Innogy to develop CarPass, an IOTA based technology that enables secure audit trails, digital identities, and charging networks for cars. With Deutsche Telekom, Microsoft, Fujitsu,and Samsung,the Foundation opened up a data marketplace using IOTA technology. The IOTA Foundation is also a founding member of the Trusted IOT Alliance, which includes the companies Bosch, ConsenSys, USbank, and Cisco.
bitcoin wiki contributors. (2019, February 28). IOTA. In bitcoin wiki, The Free Cryptocurrency Encyclopedia. Retrieved 13:13, March 3, 2019, from https://en.bitcoinwiki.org/index.php?title=IOTA&oldid=361838