Why are IOTA transactions feeless?

IOTA's Tangle requires each transaction to validate two prior transactions, replacing miner fees with computational work from senders. This peer validation model eliminates fees entirely.

Can I swap IOTA without KYC?

Yes. SyntheticSwap supports IOTA swaps with no registration or identity verification.

What is the IOTA Coordinator?

The Coordinator is a centralized node run by the IOTA Foundation that currently issues milestones to prevent double-spending. Coordicide (IOTA 2.0) aims to remove it for full decentralization.

What is IOTA used for?

IOTA is designed for IoT device communication, supply chain data integrity, digital identity, and feeless machine-to-machine payments in smart cities and Industry 4.0 applications.

Shimmer is IOTA's staging network for testing new protocol features before they deploy to the IOTA mainnet. SMR is Shimmer's native token.

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IOTA

Feeless Distributed Ledger for the Internet of Things

Launch Year

2016

Consensus

Directed Acyclic Graph (DAG)

Max Supply

4,600,000,000 IOTA

Block Time

Seconds (async)

IOTA

Price—

24h Change—

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About IOTA

IOTA is a distributed ledger technology designed specifically for the Internet of Things (IoT) — enabling feeless microtransactions between connected devices. Unlike blockchain, IOTA uses a Directed Acyclic Graph (DAG) called the Tangle, where each transaction validates two previous transactions, eliminating miners and transaction fees entirely. This makes IOTA ideal for machine-to-machine payments and data integrity in IoT use cases. The IOTA Foundation, a non-profit based in Germany, drives development. IOTA is transitioning to a fully decentralized protocol called IOTA 2.0 (Coordicide) that removes the central Coordinator node and introduces a leaderless consensus mechanism.

History

2015

IOTA founded by David Sønstebø, Sergey Ivancheglo, Dominik Schiener, and Serguei Popov.

2016

IOTA token distributed via ICO; Tangle (DAG) technology introduced as blockchain alternative.

2017

IOTA Foundation established in Germany; Microsoft Data Marketplace partnership announced.

2020

IOTA network halted for several weeks after 'Trinity Wallet' attack exploits a third-party library.

2021

IOTA Chrysalis (1.5) network upgrade improves throughput; Shimmer staging network announced.

2023

IOTA 2.0 testnet launches toward fully decentralized coordinator-less operation.

How to Swap IOTA

Exchanging IOTA (IOTA) on SyntheticSwap requires no account creation or identity documents. Open SyntheticSwap, choose IOTA as your source or target coin, provide your destination wallet address, and review the floating rate displayed. After sending IOTA from your personal wallet to the deposit address, the swap processes automatically and your chosen asset is delivered directly to your wallet. SyntheticSwap never holds your funds at any point during the process.

How to Store IOTA

IOTA is stored in Firefly Wallet (official IOTA wallet, desktop and mobile). Ledger hardware wallets support IOTA via the IOTA Ledger app. Tanglepay is a mobile wallet with DeFi features. IOTA addresses are unique alphanumeric strings — always verify the address format before sending.