Enabling the true Internet-of-Things through the Machine Economy.
The IOTA Foundation's vision extends to many different realms which are all dependent on access to a single source of truth. Data is only as valuable as it is valid. Ensuring what is true is precisely what Distributed Ledger Technology enables. IOTA is a protocol that achieves consensus on the state of matters in a network. By having a cryptographically secure source of unified truth, we envisage a grand technological Cambrian explosion of innovation to arise from it.
What is IOTA? IOTA is a revolutionary new transaction settlement and data transfer layer for the Internet of Things (IoT). It is based on a new distributed ledger technology, the Tangle, which overcomes the inefficiencies of current Blockchain designs and introduces a new way of reaching consensus in a decentralized peer-to-peer system. Using IOTA, for the first time ever, people and machines can transfer money and/or data without any transaction fees in a trustless, permissionless, and decentralized environment. This means that even nano-payments are possible without the need for a trusted intermediary of any kind. IOTA is the missing puzzle piece for the Machine Economy to fully emerge and reach its true potential.
What can I do with IOTA? What are some potential use-cases? IOTA currently does two things really well: transactional settlement (especially feeless and fast micropayments) and data integrity. With these two features a plethora of potential use cases are possible for the very first time. Real-time streaming payment services for data and energy, immutable data history tracking for supply chains, computational resource sharing (for bandwidth, CPU, and storage) and more, IOTA enables entire new business models which were previously impossible with the legacy financial system and other Distributed Ledger Technologies built on Blockchain. More open-source platforms (such as Oracles, Smart Contracts, Q, etc.) are on our roadmap and will be added in the near future. The main focus of IOTA is to enable the emerging IoT, but beyond this IOTA plans to be the transaction settlement and data integrity layer for the Internet of Everything. This includes smart cities, smart grids, infrastructure, supply chain, financial services, peer-to-peer payments, insurance, and much much more. On the IOTA Blog and the Verticals tab you can read about more concrete examples on the different use-cases the IOTA technology can enable.
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