What is IOTA (MIOTA)

What is IOTA?

IOTA is an open-source distributed ledger cryptocurrency focused on providing secure communications and payments between machines on the Internet of things.

 PROS

  • Infinitely scalable
  • Zero fees
  • No mining, blocks or difficulty adjustments so cannot be centralized by miners
  • Strong team backed by the IOTA foundation

CONS

  • Proprietary Technologies– IOTA code is not open sourced. This is a form of centralization that goes against blockchain Ideology
  • Technology- The technology behind IOTA possibly hasn’t been around long enough to know how it will work at scale, and how it will hold up to attacks
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