What is IOTA..? | Divyansh Rai

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Divyansh Rai
Oct 4, 2022
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What is IOTA..?

IOTA is a smart contract platform designed to handle payments and other transactions between physical devices that are connected to the internet. MIOTA is a cryptocurrency token used by the IOTA platform to facilitate transactions.


Even if you haven’t heard of the Internet of Things (IoT), chances are you already have IoT devices in your home, car or office. These can include the sensors in your car that indicate tire pressure is low, or your internet television, smart refrigerator, or Nest thermostat.

As the name suggests, IoT devices are connected to the internet, typically via Wi-Fi or a cellular network. But despite their ubiquity, facilitating transactions and payments among IoT devices is challenging. IOTA is a ledger designed to power microtransactions among IoT devices.

Another way to describe IOTA is as a network that helps investors and companies monetize data feeds from the IoT.

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