When it comes to the Internet of Things (IoT), IOTA (MIOTA) is a distributed ledger designed to record and execute transactions between machines and devices that are integrated into the IoT ecosystem. The ledger uses a cryptocurrency known as MIOTA to keep track of transactions on its network. The most significant invention of IOTA is the Tangle, a network of nodes used for transaction confirmation. According to IOTA, the Tangle blockchain is both faster and more efficient than traditional blockchains, which are commonly used for cryptocurrencies.

The IOTA Foundation, a non-profit organization that is responsible for the ledger, has helped major corporations, including Bosch and Volkswagen, create partnerships that will increase the usefulness of the platform among connected devices.

IOTA is a decentralized cryptocurrency designed for the Internet of Things (IoT). Unlike traditional blockchains, IOTA uses a unique structure called the "Tangle," which is a Directed Acyclic Graph (DAG). In this system, transactions are not grouped into blocks; instead, each transaction validates two previous ones, eliminating the need for miners and reducing fees to zero.

This makes IOTA particularly suited for microtransactions and machine-to-machine (M2M) communication. It aims to enable a seamless exchange of data and value between connected devices. IOTA's fee-less nature and scalability make it distinct from other cryptocurrencies, and it has potential applications in various industries, including supply chain management, smart cities, and autonomous vehicles.