IOTA

What Is IOTA?

The big hype around Bitcoin and blockchain in the last few years has escaped hardly anyone‘s attention. But what has really changed up to now? Cryptocurrencies still haven‘t taken root, because they normally entail long waiting times and transaction costs. Additional scalability issues and exorbitantly high energy consumption contribute to the growing number of sceptics. Against the backdrop of these developments, the German IOTA Foundation has made it its business to solve exactly these problems and to create a network where innumerable devices can exchange values and data freely. This network is based on the Tangle, a technology that has been developed in-house and which is an advancement of blockchain technology. It allows us to exchange values and data without any transcation costs and with considerably lower energy consumption. This means that we could pay our coffee or sandwich, or even amounts of less than one cent, with it. In our Focus section, you will learn how the Tangle was invented and get various insights into the IOTA world.

TEXT SEBASTIAN HEUSSER