IOTA has a price of $ 0.280201 with a marketcap of $ 786.02 M. It ranks number 60 of all cryptocurrencies.
IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a group of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains — and an ideal footprint for the ever-expanding Internet of Things ecosystem.
Because there’s no blockchain, there are no miners, and because there are no miners, there are zero fees. Many established networks see costs balloon when congestion intensifies, but IOTA aims to provide limitless throughput at minimal expense.
In time, IOTA’s goal is to become the de facto platform for executing transactions between Internet of Things devices. Given how estimates suggest there could be more than 20 billion devices out there by 2024, this could end up being a big business.