To put simply, the Internet Of Things refers to the ever growing connection of devices that is constantly plugged to the internet. As a result, these devices are producing data at scales never seen before which is an important factor for IOTA. To give you a better understanding of Internet of Things, please refer to the infographic below:
How IOTA is related to Internet Of Things.
IOTA is an unique cryptocurrency specifically designed for the Internet of Things. It leverages a new technology called the “Tangle” which allows IOTA to have no transaction fees, no central power,a completely decentralized network, quantum security(which means its super secure) and a network effect which increases the power of the IOTA network as it grows. Refer to our Tangle article for more information.
These features positions IOTA as the backbone for the Internet of Things as it facilitates the buying, selling and trading of data from connected devices. We can use your car as an example. A car connected to the internet will provide useful & valuable data to someone on this planet – say an automobile manufacturer? As such, the automobile dealer will be able to purchase your car’s data through the IOTA marketplace using IOTA .