IOTA (MIOTA)

Supply Chain and Trade Logistics

IOTA is used to exchange trade information across borders, helping to improve supply chain transparency and efficiency. For example, the Trade Logistics Information Pipeline (TLIP) project uses IOTA to share trade data and overcome obstacles in supply chains.

Energy and Sustainability

IOTA supports incentive schemes that reward people for sharing data about energy-saving measures, helping promote sustainable energy use.

Digital Identity and Data Sharing

IOTA enables secure digital identification and data sharing among authorities, ensuring data integrity and access control with frameworks like IOTA Identity.

Public Services and Transport

Local authorities use IOTA to measure and prove service levels in public transport by collecting and storing data like GPS and telemetry in a transparent way.

Micropayments and Machine Economy

IOTA allows feeless, fast micropayments between devices, supporting the growing machine-to-machine economy where devices can transact value and data without fees.

Programmable Ledger and Smart Contracts

IOTA’s technology supports smart contracts and tokenization, enabling new applications and ecosystems that require scalable, reliable, and programmable blockchain infrastructure.

Pros

• No transaction fees, which makes it great for small payments, especially in the Internet of Things (IoT).
• High scalability thanks to its unique Tangle technology, allowing many transactions at once.
• Strong partnerships with big global companies, showing trust and support.
• Can process any kind of data, not just money transactions.
• Quantum resistant, meaning it is designed to be secure against future quantum computers.
• No mining needed; everyone contributes to the network.

Cons

• Still under development, so the full product is not finished yet.
• Currently uses a centralized coordinator, which limits full decentralization.
• Less widely adopted compared to big cryptocurrencies like Bitcoin and Ethereum.
• Has faced technical bugs and security concerns in the past.
• Some delays in transaction confirmations have been reported.
• Smart contracts are not fully supported yet, but work is ongoing to add this feature.
• Past reputation issues have affected community trust, though improvements are being made.

Founders of IOTA

The founders of IOTA are David Sønstebø, Sergey Ivancheglo, Dominik Schiener, and Serguei Popov. These individuals started the project to create a new kind of distributed ledger technology designed for the Internet of Things (IoT).

Institutional Investors

IOTA has about 13 institutional investors, including the European Union, which invested through a grant round in 2018. Startup Autobahn is also among the institutional backers.

Venture Capital and Private Investors

Recent funding rounds for IOTA-related projects have included investors like Altira Group, Oxy Technology Ventures, Aramco Ventures, and Second Avenue Partners. These investors support IOTA's growth in technology and market reach.

Community and Token Holders

Early IOTA token investors donated 5% of the total token supply to help create the IOTA Foundation, which now plays a key role in the project's development and partnerships.

For more details, visit the official IOTA website.

Halal Status of IOTA

Yes, IOTA is generally considered halal because it is a digital token used for transactions and data transfer without involving interest (riba) or gambling (maysir), which are prohibited in Islamic finance. However, individual opinions may vary depending on specific interpretations.