What Is IOTA (MIOTA)? IOTA is a blockchain to tokenize the Internet of Things and power our future.

What Is IOTA (MIOTA)?

IOTA is a decentralized network that removes blockchain staples like mining to create an efficient network capable of powering the Internet of Things (IoT). Automation, smart homes, and smart cities depend on the ability of machines to talk to each other machine-to-machine (M2M). Tokenizing microtransactions and adding a digital ledger creates an ecosystem where all our machines can communicate and be tracked to the tiniest iota.

Who Is IOTA?

The IOTA network was created in Berlin by David Sonstebo, Sergey Ivancheglo, Dominik Shiener, and Serguei Popov. The team later formed the IOTA Foundation, a non-profit organization that now maintains and operates the network.

Use Cases of IOTA

IOTA can be used to power anything, from smart vehicle transactions like paying for gas or tolls, to tracking solar generation, utility usage, and more. Any IoT-related function can be tokenized through this platform

How to Mine MIOTA

MIOTA is mined using a Proof-of-Work (PoW) consensus, although mining is removed, so the “work” in this case is network participation. It can also be purchased on popular cryptocurrency exchanges like Binance and HitBTC.

Notable IOTA Partners and Investors

The IOTA Foundation formed several partnerships to integrate its technology into partner technology. This includes Car Wallet, a MIOTA token wallet that enables automatic parking/fuel/toll payments using the Tangle network. There’s also a Volkswagen partnership that may integrate IOTA into all future VW automobiles.

Learn More About IOTA

If you want to learn more about IOTA, I wrote a full coin intro guide at Crypto Briefing. Or you can learn more about other cryptocurrencies across Thought for Your Penny.

Versability

Dr. Brian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower, troll, and freelance writer. You can find his work in Cracked, High Times, HuffPost, Lifewire, Forbes, Fast Company, and dozens of other places, although much of it is no longer under his name. Dr. Penny loves annoying fake media.

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