IOTA is an open source distributed notebook focused on providing secure communication and payment between machines. IOTA, which uses direct acyclic graph (DAG) technology instead of traditional block chain, is a system that is free of charge, independent of the size of the transaction, fast validation times, number of transactions that the system can perform simultaneously and it is easily scalable. IOTA, David Sønstebø, Sergey Ivancheglo, Dominican Schiener and Dr. Founded by Serguei Popov. IOTA is audited by the non-profit organization IOTA to improve technology and ensure that all developers are unlicensed to work together. As of December 2017, the market value of IOTA is $ 9 billion and is the eighth largest cryptographic encryption in the circulation.