IOTA
Crypto Overview
Project Overview
IOTA is a distributed ledger technology designed specifically for the Internet of Things (IoT) ecosystem. Unlike traditional blockchain networks, IOTA uses a Directed Acyclic Graph (DAG) called the Tangle, which theoretically allows for fee-less transactions and infinite scalability.
Intended Utility
IOTA's primary purpose is to enable secure data and value transfer between IoT devices. The project aims to serve as the backbone for machine-to-machine (M2M) economy, enabling automated micropayments and data exchange in industrial settings.
Actual Usage and Development
IOTA has established partnerships with major organizations including Dell, Jaguar Land Rover, and the European Union. The project has demonstrated real-world applications in smart cities, supply chain management, and industrial IoT. The IOTA Foundation actively maintains development, with recent major updates including the implementation of IOTA 2.0 (Coordicide) testnet.
Token Distribution and Governance
All IOTA tokens were created in the genesis transaction, with no tokens reserved for founders or the IOTA Foundation. The initial distribution was conducted through a public ICO in 2015, demonstrating fair distribution. The IOTA Foundation, a non-profit organization, manages development through community funding and grants.
Revenue Model
IOTA's model does not involve interest-bearing mechanisms or lending. The network operates without transaction fees, and validation is performed through a novel consensus mechanism that doesn't involve traditional staking or mining rewards.
Crypto Impact
To assign a comfort level investing in IOTA from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to IOTA.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
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You can change your vote if you change your mind.