IOTA is a popular cryptocurrency leveraging the latest technologies. The name is an acronym of Internet of Things Applications, which combines blockchain, IoT technology, and cryptocurrency.
Furthermore, IOTA is based on the Tangle ledger, and is ideal for processing transactions sent from one machine to another. IOTA tokens allow users to avoid numerous challenges, such as the mining fees imposed by the likes of Bitcoin and slow process times.
There are two core factors which help to make IOTA a strong option for anyone interested in cryptocurrency mining: the use of distributed ledger tech and IoT’s relative under-utilization. IOTA applications aren’t just restricted to IoT-enabled devices, either. They can work with different platforms which support the creation and implementation of smart contracts.
Additionally, the DAG flexibility enables IoT devices to utilize other cryptocurrencies. One of the key benefits of DAG structure is that the network is decentralized, and it eliminates the expenses of mining hardware (which may be associated with ASIC mining technology, for example).