Moreover, IOTA is designed to offer endless scalability – the more IOTA users there are, the faster the transaction speed will be. The main difference between IOTA and other cryptocurrencies is that while all other networks use blockchain technology, IOTA has its own system – Tangle. The launch of this new cryptocurrency was announced in October 2015 by its creators Sergey Ivancheglo, Serguei Popov, David Sønstebø, and Dominik Schiener. The basic idea behind it is a new transaction being confirmed by two previous ones through a PoW system to ensure high scalability, no fees, and near-instant transfers. The ecosystem is also the home of Tangle, a new technology developed by IOTA. The term IoT stands for the Internet of Things, a huge network of devices and technologies. It handles and facilitates transactions in the IoT ecosystem. IOTA is the first distributed ledger that was made up exclusively for a data exchange network to link humans and machines. Is the future really so bright? Or should investors anticipate a rocky ride? Read on to get the updated IOTA (MIOTA) price prediction for the next several years. With all these latest developments, IOTA is considered one of the most promising projects for the near future. The new innovative technology Tangle has boosted IOTA’s appeal to investors and traders. IOTA was created as a solution for the IoT (Internet of Things) ecosystem, and it is infiltrating into more industries and markets each year. One of the goals of the IOTA network is to improve Bitcoin’s functionality, but it’s actually much more than that.
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