![]() The only difference is that it does not get away with the notion of blocks. As Sonetebo also explained in a blog post back in 2015, this technology focuses on retaining the ability of blockchain to execute some secure transactions. The more technical name is the Directed Acyclic Graph. He further said that he has always done his best work in a less rigid environment and is looking forward to independently continue the work on IOTA’s software and hardware development.ĪDVERTISEMENT What Makes The Miota (IOTA) Cryptocurrency?Īs it alludes to a little earlier, the MIOTA Cryptocurrency is effectively a blockchain-less blockchain that is rather unusual. At the same time, he has said that he no longer believes that the IOTA Foundation is the best setting for him to realize what they all set out to create back in 20. Sergey Ivancheglo has resigned from the berlin-based project in 2019 but is continuing as an unofficial advisor. Dominik Schiener and David Sonostebo are collectively the co-chairman of the board of directors, while Sergei Popov is a board member and the foundation’s director of research. According to the MIOTA Foundation, the initiative has been increasing since then, and the team members are now based in more than 25 countries. IOTA has four principal co-founders: Serguei Popov, Sergey Ivancheglo, David Sonostebo, and Dominik Schiener. Originally, Jinn, a crowd sale for the project, was held in September 2014, and the network of MIOTA (IOTA) Cryptocurrency was officially launched in the year 2016.Įverything Tangle Who Are The Founders Of The Miota (Iota) Cryptocurrency? They think that their distributed ledger could deliver the digital identities to all, result in the car insurance policies based on the actual usage, paving the way for cutting some intelligent cities, and provide the global trade seamlessly while proving the authenticity of the products. ![]() The MIOTA team believes that the potential use cases do not end here. The estimates suggest that there could be around 20.4 billion such devices out there by 2024 and could end up being the big business. The main goal of IOTA is to become the de-facto platform for executing the transactions between various IoT devices. Many established networks witness the costs balloon when the congestion intensifies, but MIOTA Cryptocurrency focuses on providing limitless throughput at minimal expense. What Is Miota (Iota) Cryptocurrency?īecause there is no blockchain here, there are no miners, and because there are no miners, there are no fees.
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