If you are interested to the previous posts of this series, check it out here:

• Bitcoin (BTC)
• Ethereum (ETH)
• Cardano (ADA)
• Binance Coin (BNB)
• Tether (USDT)
• XRP (XRP)
• Dogecoin (DOGE)
• USD Coin (USDC)
• Polkadot (DOT)
• Solana (SOL)
• Uniswap (UNI)
• Binance USD (BUSD)
• Bitcoin Cash (BCH)
• Litecoin (LTC)
• Chainlink (LINK)
• Terra (LUNA)
• Internet Computer (ICP)
• Wrapped Bitcoin (WBTC)
• Polygon (MATIC)
• Algorand (ALGO)
• VeChain (VET)
• Stellar Lumens (XLM)
• Harmony (ONE)
• Hedera Hashgraph (HBAR)
• Tron (TRX)
• Cosmos (ATOM)
• Axie Infinity (AXS)
• Tezos (XTZ)
• Ergo (ERG)
• Nano (NANO)
• Monero (XMR)
• Elrond (EGLD)
• Ethereum Classic (ETC)
• Crypto.com Coin (CRO)
• Pancake Swap (CAKE)
• Enjin Coin (ENJ)

What is it?

IOTA is a cryptocurrency which, however, has unique technical characteristics compared to other popular projects. The name derives from "Internet of Things" so by the name we can at least imagine what is the purpose of IOTA. It is a coin that was born as an independent and which then created partnerships with "giants" of the caliber of Microsoft, Huawei and other big names of the 2 and 3.0 economy. IOTA, as we will see in more detail in a few paragraphs, has some very interesting features on a technical level:

• Allows offline transactions
• It has no transaction costs
• It has a "blockchain" (we use quotes because, as we will see, it is not exactly a blockchain) lighter than Bitcoin and other cryptocurrencies
• It is infinitely scalable, allowing a huge number of simultaneous transactions without burdening the network
• It allows even immediate exchange between two operators, without the transaction having to be immediately validated by the reference network

How does it work?

IOTA was designed to help machines communicate and establish commission-free transactions. All this allows the Internet of Things to exist. But let's take a closer look at how IOTA works and how it relates to the Internet of Things. IOTA is very different from any other digital currency. Instead of using a blockchain, it use a ledger referred to as The Tangle. The reason why the IOTA team uses the Tangle rather than regular blockchain technology is explained on their website:

“The success of Bitcoin over the past six years has proven the value of blockchain technology. However, this type of technology also has drawbacks, which prevent the blockchain from being used as the only cryptocurrency platform. Among these disadvantages, a specific one is the impossibility of making micro-payments, which has become increasingly important in the rapid development of the Internet of Things "

On the IOTA website, the team also pointed out that IOTA was created to scale, unlike Bitcoin or Ethereum. Aside from its scalability, IOTA has also doubled the uniqueness of the token itself. "Uniqueness", in this case, means mining: IOTA does not need miners to operate, since it has the ability to maintain itself, operating in a context of self-regulation. This is an aspect that attracts a lot of investors, quite perplexed by the mining procedure. To sum up, there are two main new features of IOTA:

• Adoption: IOTA is used as a technology that allows machines to communicate. It can process micro-transactions without commissions, which no other digital currency can do;
• Functionality: IOTA operates using a technology called "Tangle". It is not a blockchain technology but a decentralized ledger that adjusts itself automatically. It does not involve mining processes.

Where to store it?

The best hot wallet for Iota are Iota Wallet, Nostalgia Light Wallet and GUI Light Wallet. If you want more security, a cold storage like Ledger is the right choice.

Pros&Cons

*DISCLAIMER* These lists are subjective, it depends from person to person

Pros

1. Low energy cost transactions
2. No fees for transactions
3. Great and transparent roadmap
4. Completely decentralized and secure ledger

Cons

1. Early reputation damaged by few mistaked