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IOTA (MIOTA) stands for the Internet-of-Things Application and it is the first open-source technology that should make it possible for (micro) transactions to take place between devices that are connected to the Internet-of-Things(IoT). IOTA does not use a blockchain, as many other cryptocurrencies do, but uses the Directed Acylic Graph (DAG). This technique makes it possible for these transactions to take place without transaction costs.
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