Millions invested in IOTA blockchain company
Outlier Ventures, a british venture capital firm focused on distributed ledgers has invested in IOTA knows as one of the world’s first blockless Blockchain for Internet of Things through its token offering.
IOTA’s distributed ledger platform provides the foundation for what is described as “cost-neutral exchange of value” across the Internet of Things (IoT). It is said to enable companies to explore “newmachine-2-machine business models” by making every technological resource a potential service to be traded on an open market.
IOTA’s listing broke records by exceeding $1.5 billion on the first day of trading in Bitifinex’s cryptocurrency exchange.
Tangle IOTA’s product enables every IoT device, sensor, and machine to securely exchange value in real-time through transactions without intermediaries. IOTA provides the value-exchange mechanism for connected devices to use those resources and to pay for them instantly, with micro-payments between the distributed devices – and the companies who own them.