Browse Definitions :
Definition

IOTA

Contributor(s): Matthew Haughn

IOTA is a distributed ledger technology for IoT devices that will facilitate machine to machine (M2M) transactions in the M2M economy. IOTA was created by the non-profit foundation of the same name.

IOTA is built around the mIOTA cryptocurrency which uses tangle technology based on decentralized acyclic graph (DAG), rather than blockchain as in the case of bitcoin. There is less overhead with tangle as the duties of verifying transactions are shared between device nodes. When a transaction is made, the devices in the transaction verify the two previous transactions. This is in contrast to blockchain where the entire ledger is verified in processing intensive mining on separate computers. By sharing the load of verification between devices, the need for mining is eliminated.

The mIOTA cryptocurrency is limited to micro-transactions. (This term might be less likely than language like “permission-less transaction” to bring to mind a self-emptying wallet.) Gartner research claims that transactions of IoT devices are likely to reach 20.4 billion by 2020. The currency for devices was created with an inherent cap on the total amount of 27 quadrillion.

This distributed ledger makes it possible for IoT devices to carry out transactions without external support. This independent transaction system might be used, for example, when a smart fridge orders food based on a tallied list of used groceries, or a vending machine pays to be resupplied, perhaps by drone stock drop.

This was last updated in July 2018

Continue Reading About IOTA

Start the conversation

Send me notifications when other members comment.

Please create a username to comment.

-ADS BY GOOGLE

File Extensions and File Formats

SearchCompliance

  • PCI DSS (Payment Card Industry Data Security Standard)

    The Payment Card Industry Data Security Standard (PCI DSS) is a widely accepted set of policies and procedures intended to ...

  • risk management

    Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings.

  • compliance framework

    A compliance framework is a structured set of guidelines that details an organization's processes for maintaining accordance with...

SearchSecurity

  • Trojan horse (computing)

    In computing, a Trojan horse is a program downloaded and installed on a computer that appears harmless, but is, in fact, ...

  • identity theft

    Identity theft, also known as identity fraud, is a crime in which an imposter obtains key pieces of personally identifiable ...

  • DNS over HTTPS (DoH)

    DNS over HTTPS (DoH) is a relatively new protocol that encrypts domain name system traffic by passing DNS queries through a ...

SearchHealthIT

  • telemedicine (telehealth)

    Telemedicine is the remote delivery of healthcare services, such as health assessments or consultations, over the ...

  • Project Nightingale

    Project Nightingale is a controversial partnership between Google and Ascension, the second largest health system in the United ...

  • medical practice management (MPM) software

    Medical practice management (MPM) software is a collection of computerized services used by healthcare professionals and ...

SearchDisasterRecovery

SearchStorage

  • M.2 SSD

    An M.2 SSD is a solid-state drive (SSD) that conforms to a computer industry specification and is used in internally mounted ...

  • kilobyte (KB or Kbyte)

    A kilobyte (KB or Kbyte) is a unit of measurement for computer memory or data storage used by mathematics and computer science ...

  • virtual memory

    Virtual memory is a memory management capability of an operating system (OS) that uses hardware and software to allow a computer ...

Close