Its a distributed ledger, with no fees, the POW is done on basically any device with a microprocessor.
Thats where you are wrong kiddo.
CfB claimed iota will run on a computing device which has 20% power of normal PC. That does not include micro-processors, they are orders of magnitude less powerful

Besides, the coin being from the same dev of an abandoned coin, Nxt, with the same marketing "Next beyond blockchain" should have warned you.