IOTA is a cryptocurrency and blockchain platform created in 2015 to address the scalability and transaction fees associated with proof-of-work blockchains. Unlike most other cryptocurrencies, IOTA uses its own "tangle" consensus mechanism, which requires no mining and allows the network to scale to an infinite number of transactions.
Additionally, thanks to the tangle technology, IOTA allows for fee-free microtransactions, making it an ideal solution for the Internet of Things (IoT), where there is often a need to conduct many small transactions.
MIOTA is the token used on the IOTA platform to secure and confirm transactions on the network. It is also used to pay for services and payments on the IOTA platform. IOTA also provides developers with tools and APIs for creating decentralized applications (dApps) on its blockchain platform.
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