Iota is a cryptocurrency designed for the Internet of Things (IoT). It uses a unique technology called the Tangle, which is a type of directed acyclic graph (DAG). This allows for feeless transactions and faster processing times compared to traditional blockchain systems. Iota aims to enable secure data and value transfer between devices without the need for intermediaries. The Iota Foundation, a non-profit organization, oversees the development and promotion of the Iota network. It focuses on creating a scalable and efficient platform for IoT applications, facilitating communication and transactions among connected devices. This makes Iota a promising solution for future smart cities and automated systems.