The Internet of Things (IoT) connects devices via the Internet. Network congestion is one of the key problems that has been identified by researchers in the IoT field. When there is a huge number of IoT devices connected to the internet, this creates network congestion. Transfer control protocol is a transport layer protocol that provides a reliable end-to-end connection between two devices. Many Congestion Control Algorithms have been proposed to solve network congestion. However, there is no perfect solution to this problem. This paper proposes an effective loss-based Congestion Control Algorithm to effectively adapt the congestion window in the IoT environment. It uses simple experiment scenarios to test the algorithm for wired and wireless channels and observes important performance metrics: link utilization, inter-protocol fairness, intra-protocol fairness and throughput. The results are impressive, and the proposed algorithm is shown to outperform other standard algorithms.