What we're about

IOTA stands for Internet of Things Application, and it’s a crypto technology that facilitates transactions between devices on the Internet of Things (IoT) (https://www.forbes.com/sites/jacobmorgan/2014/05/13/simple-explanation-internet-things-that-anyone-can-understand/#392546071d09). IOTA addresses the transaction fees and scalability issues of blockchain technologies by getting rid of the block and chain. Instead, in order to submit a transaction to the IOTA ledger, you must verify two other previous transactions.

This method of verification means there’s no central ledger, and there’s no need for miners to power the network.

As the devices on the network randomly verify each other’s transactions, they build consensus through the web of connections between transactions. In cryptography, this type of verification is known as Directed Acyclic Graph (DAG), but the creators of IOTA call it the Tangle.

Since computing power in the Tangle grows as the network grows, IOTA is promising free, fast transactions. It’s also designed to process micro-payments and payments between machines, facilitating a whole machine-to-machine micro-economy.

Past events (4)

IOTA - Tokyo Meetup #3 - BiiLabs

Impact HUB Tokyo

IOTA - Tokyo Meetup #2 - nakamo.to and peaq

Needs a location

IOTA - Tokyo Meetup #1

Needs a location

Photos (4)