IOTA is a distributed ledger technology that aims to provide a secure and scalable platform for the Internet of Things (IoT). The platform uses a unique data structure called the Tangle, which is a directed acyclic graph (DAG) that enables feeless transactions and scalable data transfer.
Some key features of IOTA include:
1. Scalability: IOTA is designed to be highly scalable, enabling it to handle a large volume of transactions and data transfer without fees.
2. The Tangle: IOTA uses the Tangle, a DAG data structure, to enable fast and secure transactions and data transfer without the need for miners or transaction fees.
3. Machine-to-machine communication: IOTA is designed for machine-to-machine communication, enabling devices to interact and transfer data in a secure and efficient manner.
4. Decentralized governance: IOTA has a decentralized governance system in which community members can propose and vote on changes, improvements, or new features for the platform.
The native cryptocurrency of the IOTA platform is called MIOTA, which is used as a means of payment for transaction fees and as a reward for participating in the platform.
IOTA is built on its own proprietary technology, which enables it to provide a fast and efficient infrastructure for the Internet of Things. The value of IOTA, like other cryptocurrencies, depends on various factors such as market demand, the platform's growth and adoption, and overall market conditions. As IOTA continues to expand its offerings and increase its utility in the IoT ecosystem, the value of MIOTA may change accordingly.