David Sønstebø is the founder of IOTA (ticker: IOTA), a coin that’s positioned to be “the backbone of IOT.” In the dawning “internet of things,” IOTA is intended to make it possible for anything with a chip to be a consumer—or “prosumer”—in an everything-as-a-service economy. Sønstebø set IOTA up to run on decentralized-ledger, tangle/directed-acyclic-graph (DAG) technology rather than blockchain, which makes it possible for the IOTA network to be self-regulating, modular, and scalable. In addition, transactions are virtually instantaneous, and transaction costs are essentially zero, so micro- and even nano-transactions are possible. In addition to financial transactions, the IOTA system supports data transfer, smart infrastructure, voting, eGovernance, masked messaging, and anything that needs a scalable ledger. Sønstebø was part of the original NXT team that developed one of the first proof-of-stake coins.
How do smaller coin ecosystems fit in the large cryptocurrency landscape relative to Bitcoin and Ethereum. Explanation of various consensus mechanisms: DLT, Blockchains, DAGs What are the most important differentiators of altcoins and what are the keys to their success? Stellar, IOTA, Bitshares