IOTA is a new cryptocurrency based on a blockless blockchain technology. Unlike other cryptocurrencies that are peer-to-peer focused, IOTA is focused on seamless and feeless machine-to-machine (M2M) transactions.
IOTA provides secure, efficient and real-time micro-transactions without any charges. It is a decentralized and open-source cryptocurrency that is specifically engineered for the Internet of Things, its real-time micro-transactions providing an ecosystem that is ready and flexible for scale.
IOTA has potential for indefinite scalability, offline transactions and zero transaction costs. It is a cryptocurrency with an extension of the blockchain ecosystem. Rather than blockchain, it works with Tangle.Tangle retains blockchain features of an open and distributed ledger with secure transactions but does not operate with blocks. Instead of blocks, as used in regular blockchain, Tangle utilizes a Directed Acyclic Graph (DAG) for it transactions.
DAG enables various features like zero-cost transactions, infinite scalability and offline transactions that blockchain cannot do and is unlikely to develop.
IOTA is among the top 10 cryptocurrencies based on market capitalization and it enables companies to explore new business-to-business or machine-to-machine models by making every technological resource a potential service to be traded on an open market in real time, with no fees.