IOTA is designed for the Internet of Things. The project is focused on establishing communication channels, first of all, for secure payments between devices.
The main idea behind the Internet of Things is to enable different objects to interact with each other using the World Wide Web. It is about smart cities, smart homes, smart enterprises, and smart devices. All these have to interact with each other, making our lives more efficient and comfortable, with payments being made online.
This altcoin is based on the innovative Tangle protocol, which relies on a tangle of transactions rather than a chain of blocks. In this protocol, transactions are confirmed by system users without the participation of miners. To send a transaction, you have to confirm two other transactions, and no commission is charged for them.
Consequently, the more users, the higher the speed of transactions, which in turn leads to infinite scalability.
IOTA is able to process transactions with zero fees, so that devices can trade exact amounts of resources on-demand, as well as store data from sensors and dataloggers securely.
We invest in IOTA because the Internet of Things is our near future, as our society is going to be increasingly robotized. Efficient exchange of data and payments between devices is already in demand, and IOTA is an effective tool to provide it. The system has no transaction fees, while featuring high network scalability and adaptability