Cryptocurrency IOTA Could Revolutionize IoT, If It’s Secure | Propmodo
IOTA is a cryptocurrency traded on most major exchanges under the symbol MIOTA. While it has a value tied to the supply and demand of its coins, like other cryptocurrencies, it was built with the purpose of enabling the exchange of large amounts of data for the Internet of Things rather than just being a store of value. It also deviates from most other digital assets in that it was created by a non-profit organization, The IOTA Foundation, and is essentially an open source initiative.
IOTA has already been used in a few notable projects, the largest being the City of Taipei’s smart city projects to create a secure citizen ID cards that could easily verify identities and even carry the holder’s personal and health information on it.