IOTA is a cryptocurrency platform whose vision is to create a foundation for the “Economy of Things”. The Economy of Things is a marketplace for that data which is produced by the Internet of Things (IoT).
The term “cryptocurrency platform” may sound like a very poor way of describing a blockchain, but that’s because IOTA doesn’t actually use one. The underlying technology is what’s known as a Tangle which is an alternative, blockless approach to enabling a distributed ledger.
IOTA is built around the emerging IoT which is the term given to the collective amount of devices which access the internet and create or use data. Devices can include anything from a smart fridge to digital door locks, all the way to the GPS built into many new cars.
However, the IoT is still…