Description for currency
IoTa - cryptocurrency for the Internet of things industry. The project uses DAG technology (Directed Acyclyc Graph), which is a technology with improved performance, similar to the blockchain, but with differences. Own network, based on DAG technology, was named by the team Tangle.
The project differentiate between two Tangle network modes: high and low load. At the initial stage of the network, the speed of confirmation time with a high load will be less than with a low, but as the network develops, these figures will be equal. Attack of double spending, new chain is impossible in the network Tangle, because each block has its own specific weight, the maximum value of which can be set by the developer.
The founders of the project are ideological people enthusiastic by the Internet of things. They led companies that developed in this industry back in the 2000s. The main representatives are from Europe, the company itself is based in Germany.
Beta testing was conducted in 2016 for 11 months. An ICO was held on which $ 500,000 was raised, and in June 2017, the MIOTA coin hit the market. The company openly announces all updates, is very active in all its communities and has already formed true connoisseurs of the Internet of Things around itself.