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

Powered by:

SearchCompliance

  • Whistleblower Protection Act

    The Whistleblower Protection Act of 1989 is a law that protects federal government employees in the United States from ...

  • smart contract

    A smart contract, also known as a cryptocontract, is a computer program that directly controls the transfer of digital currencies...

  • risk map (risk heat map)

    A risk map, also known as a risk heat map, is a data visualization tool for communicating specific risks an organization faces. A...

SearchSecurity

  • certificate authority (CA)

    A certificate authority (CA) is a trusted entity that issues digital certificates, which are data files used to cryptographically...

  • hacktivism

    Hacktivism is the act of hacking, or breaking into a computer system, for a politically or socially motivated purpose.

  • advanced persistent threat (APT)

    An advanced persistent threat (APT) is a prolonged and targeted cyberattack in which an intruder gains access to a network and ...

SearchHealthIT

  • Cerner Corp.

    Cerner Corp. is a public company in North Kansas City, Mo., that provides various health information technologies, ranging from ...

  • clinical decision support system (CDSS)

    A clinical decision support system (CDSS) is an application that analyzes data to help healthcare providers make decisions and ...

  • Health IT (health information technology)

    Health IT (health information technology) is the area of IT involving the design, development, creation, use and maintenance of ...

SearchDisasterRecovery

  • tabletop exercise (TTX)

    A tabletop exercise (TTX) is a disaster preparedness activity that takes participants through the process of dealing with a ...

  • risk mitigation

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a data center.

  • ransomware recovery

    Ransomware recovery is the process of resuming options following a cyberattack that demands payment in exchange for unlocking ...

SearchStorage

  • SSD (solid-state drive)

    An SSD (solid-state drive) is a type of nonvolatile storage media that stores persistent data on solid-state flash memory.

  • file system

    In a computer, a file system -- sometimes written filesystem -- is the way in which files are named and where they are placed ...

  • storage virtualization

    Storage virtualization is the pooling of physical storage from multiple storage devices into what appears to be a single storage ...

Close