IOTA is an open protocol of distributed ledger that goes beyond the blockchain thanks to its main technological solution — Tangle cloudless technology. IOTA Tangle is the Directed Acyclic Graph (DAG) protected from quantum intervention. The system works without transactional fees and provides unlimited number of parallel transactions. IOTA’s distinguishing feature is that it is not based on the blockchain and Tangle does not need any chains, blocks and miners. Moreover, the IOTA capacity increases with the growth of the network activity: the more activity is provided, the faster it works. In contrast to the blockchain architecture, IOTA has no division between users and validators. The validation in this system is the internal characteristic of the ledger work that helps to avoid the centralization. IOTA is developed to be the basis for growing Internet of Things (IOT) industry.
The key feature of IOTA project is Tangle-based data transmission. IOTA provides secure communication channels between devices involved. The data transmission is safe and protected from any kinds of attacks.
IOTA Tangle also provides the ability to make micro and nano transactions. Moreover, it provides new options and functions both for IoT and “usual” Internet. This can be very useful for different kinds of companies and projects.
Even though IOTA is used for Internet of Things functioning, Tangle can be used also in other cases, for example for e-voting that becomes a very important part of this industry nowadays.
IOTA can help businesses to implement new b2b models, providing the ability to create potential services from almost any technological resources.