MIOTA

IOTA is designed to facilitate microtransactions between devices on the Internet of Things (IoT). IOTA uses a unique consensus algorithm (called the Tangle) that requires users to validate two transactions in order to make a transaction of their own.

IOTA token listed under the ticker MIOTA is the native crypto token of the platform. The IOTA Foundation created MIOTA to allow humans and technology to exchange data and services. There were no early investors, no tokens were locked, and founders did not receive any tokens at the time of genesis. Notably, IOTA tokens cannot be mined or staked to ensure no transaction fees for value and data.