What is IOTA?
IOTA is a futuristic protocol in distributed ledger technology. It is more than just a cryptocurrency. Even as cryptocurrency, with its zero transaction costs, unlimited scalability, possibility for nano transactions and quantum resistance, IOTA theoretically overcomes all the limitations of traditional cryptocurrencies such as Bitcoin, Ethereum and Ripple.
During the ICO in 2015 all MIOTA were distributed among the investors, at the time nothing was left behind for the developers and founders. These have had to invest with equity. The team later asked the community for a donation to set up the IOTA Foundation. After this request, the community donated 5% of the total stock to the IOTA Foundation. 5% is therefore owned by the IOTA Foundation, the remaining 95% is divided among investors. The ten richest IOTA addresses together have approximately 916 million MIOTA. This amounts to about 33% of the total stock. It is not clear whether the 5% of the IOTA Foundation is included.