An open, feeless data and value transfer protocol
IOTA Foundation is a nonprofit organization and the developer of the IOTA blockchain. The IOTA blockchain is a permissionless distributed ledger designed for “a new economy. It was conceptualized in 2015 and officially released in June 2017.
The IOTA project targets the Internet of Things. It aims to support the growth of a machine economy by enabling fee-less machine to machine payment with more scalability than blockchain networks. To achieve that, IOTA relies on the Tangle, a Directed Acyclic Graph data structure. DAGs do not rely on blocks, miners nor a chain. Instead, it uses a network of transactions that are linked to each other in a tree-shape network.
IOTA Foundation focuses on mobility & automotive, global trade & supply chains, industrial IoT, smart cities, and digital identity. IOTA Foundation is based in Berlin, Germany.