$500k sounds like a small amount, but crowdfunding and ICOs weren't commonplace in 2015. The initial funding for the IOTA project came from a 2015 crowd sale that raised 1,337 Bitcoin, worth roughly $500,000 at the time. IOTA has fundamentally reengineered distributed ledger technology, enabling secure exchange of value and data, without any fees." Source: IOTA "An Open, Feeless Data And Value Transfer Protocol. IOTA aims this approach to the platform for unparalleled scalability and opens up numerous possibilities in the market. Instead of using blockchain technology, the IOTA network relies on various Internet-of-Things (IoT) applications. IOTA is a unique cryptocurrency because it operates differently from its competitors.
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