There are numerous online virtual currencies around today. One that is set to become better known soon is IOTA. This stems from IOT, or Internet of Things. The idea is to provide a currency that attracts zero fees. The system works on something called the Tangle. This is a distributed ledger, but it is not based on a blockchain. Instead, it is known as being blockless. The one thing it does have in common with other currencies is its peer-to-peer network.

IOTA is a form of technology, while MIOTA is the term given to one million Iota. When it comes to trading, the MIOTA is the unit used. If you wish to use or store this currency, you will need a wallet dedicated to accepting IOTA. This will require a private key.

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