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What is IOTA?

IOTA is an innovative new distributed ledger technology to function as the backbone of the Internet of Things.

The underlying protocol, the Tangle, is a decentralized peer-to-peer network that enables several different applications. 

  • Free transaction of value: For the first time in history, value can be shared and shifted and no fee is taken by intermediaries. 
    If you send one cent to a friend in Tokyo, she will receive exactly one cent. 
    This is a novelty, even for crypto-currency standards.
  • Transaction of information: Data can be shared, sold, secured. This enables countless new economic opportunities like a sensor data-market. 
  • Data integrity: tamperproof transactions of data without access to third parties
  • Scalability: the more people use IOTA, the faster transactions and validations of transactions happen, unlike Blockchains, which have not solved the scalability issues. 

Born in 2014, it is the only technology of its kind that is able to function as the lightweight distributed ledger with scalability, quantum resistance and decentralization for a plethora of use-cases in the Internet of Things, the machine economy, or human applications.

IOTA was created as a far related derivation of the blockchain technology but is far more advanced and is already recognized in the innovation-press like Forbes, Techcrunch, International Business Times and Huffington Post.

Several universities already recognized the potential of IOTA and decided to work with it.

The whitepaper can be read here: Whitepaper (Version 1.3 October 2017)

The Blockchain is a great invention but it’s also stigmatized with pre-conceptions because the majority of issues occurred through human failure. Blockchain’s as such have never been hacked, just the human-software interface.

The advantages of Blockchains and DLT's have been widely recognized but the legitimacy has always been an issue. 

Since 2017 IOTA is coordinated by the IOTA Foundation, a non-profit organization located in Berlin, under German Law. 

This incredible important progression ensures that IOTA will be regulated and legitimized as part of the fourth industrial revolution: cyber-physical systems.  

Major tech companies such as Volkswagen, Bosch, and Fujitsu are already working with IOTA.

The combination of scalability, zero fees, and data-integrity is a great step forward to enable countless new business-models all over the world. 

Science, automation, person to person transfers, machine to machine economy, the field of applications are endless

Scroll through the timeline to get a grasp of how IOTA is maturing both its technology and its industrial adoption.