IOTA is another cryptocurrency not based on Blockchain Technology. IOTA is an open source distributed ledger that exercises Directed Acyclic Graph (DAG) technology. Founded in 2015 by David Sonstebo, Sergey Ivanchelgo, Dominik Schiener and Dr. Serguei Popov, but introduced on 11 June 2016, as per records.
Source: Initial Coin Offering (ICO)
1. The First cryptocurrency using the Tangle
2. Transactions are free regardless of the size of the transaction
3. Speedy confirmations
IOTA's DAG is colloquially referred to as the "tangle" and is a generalization of the blockchain protocol (a blockchain is a special case of a DAG), source Wikipedia.
IOTA focusses on providing a no-fee platform for companies to explore new business to business models. Thus, also Supplying secure communications and payments amid machines on the IoT.
IOTA made use of a self-designed hash function named Curl but later replaced with a version of SHA-3 named Keri. The currency has become popular enough that, according to records, IOTA’s Market Cap Click here!