IOTA (IOTA)USD

IOTA is an open-source distributed ledger and cryptocurrency designed for feeless, scalable data and value transfer, with a focus on machine-to-machine communication and Internet of Things applications. David Sønstebø, Sergey Ivancheglo, Dominik Schiener, and Serguei Popov founded the project in 2015 and established the IOTA Foundation. The network and token launched around 2015 to 2016, with the entire initial supply created in a single genesis transaction. Instead of a traditional blockchain, IOTA uses a directed acyclic graph structure called the Tangle. In this structure, each new transaction must approve two previous ones before the network accepts it. Historically, a Coordinator node operated by the IOTA Foundation issued milestone transactions to support consensus. IOTA 2.0 development has moved toward a leaderless, probabilistic voting mechanism that would remove this dependency. The native token uses the ticker IOTA and is used for value transfer and settling on-ledger actions. The network has historically charged very low or no transaction fees. The project launched the Rebase upgrade with an initial total supply of 4.6 billion IOTA tokens. New tokens are minted each epoch, making the maximum supply effectively uncapped. IOTA targets digital and industrial infrastructure use cases and positions itself as a settlement layer for enterprises, institutions, and connected devices.