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IOTA (IOT) is a new cryptocurrency that was specially designed for the Internet of Things (IoT). Created in late 2015, its major feature is enabling a large number of micro payments, starting with as low as a penny. What is different about IOTA compared to traditional cryptocurrencies is that any user can become a miner; they do not get any compensation for mining, but any transaction within the network is free for them. IOT / USD rate depends entirely on supply and demand, its real value being determined by its popularity and relevance.