IOTA (IOTA)

Dominik Schiener, David Sonstebo, Serguei Popov, and Sergey Ivancheglo banded together to form IOTA in 2015. Before going live in 2016, the network had a virtual public crowdsale or initial coin offering (ICO) that collected funding worth around $500,000. Different digital currencies were used to buy the IOTA value token during the event. IOTA’s market value soared to greater heights in the years that follow, passing the $14 billion mark at some point. IOTA is managed by the IOTA Foundation, which was formed in 2017 after token investors each pitched in a certain percentage of the token’s total supply. The foundation’s goal is to promote distributed ledgers and blockchain technology. The initial goal of IOTA is to build a payment system capable of facilitating scalable transactions in a convenient, faster, cheaper, and more secure manner. Its transactions are not limited to the financial kind; it also facilitates data transfers or movements.