What is IOTA?
IOTA is an Open-Source Distributed Ledger.It is the first open-source distributed ledger that is being built to power the future of the Internet of Things with feeless microtransactions and data integrity for machines.
IOTA Meaning : IOTA is a distributed ledger technology (DLT) that allows computers in an IOTA network to transfer immutable data and value (IOTA tokens) among each other.
By solving the inefficiencies of the Blockchain, IOTA, based on the revolutionary distributed ledger technology, the Tangle, is the missing link for the Internet of Everything and Web 3.0. Powering a secure, scalable and feeless transaction settlement layer, IOTA will empower machines and humans to participate in flourishing new permissionless economies - the most important one being the Machine Economy which we are building.
How does IOTA work: An IOTA network consists of nodes and clients. A node is a computer that's connected to peers in an IOTA network and that has read/write access to a ledger of transactions. A client is a device that has a seed, which can be used to create their addresses and signatures.