What are the features of IOTA? First of all, the developers abandoned the familiar but heavy blockchain in favor of Tangle’s unique technology. The DAG (Directed Acyclic Graph) technology was used for its development. However, the fully decentralized platform follows the P2P (peer-to-peer) protocol. IOTA Tangle does not follow a straight-line chain, and that’s how it actually differs from the blockchain.
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IOTA has a rich history full of ups and downs, so we wrote a special article on “What is IOTA?” Instead, it interacts with a registry, also known as IOTA Tangle. It is important to note that IOTA, unlike most cryptocurrencies, does not work with blockchain. The project is aimed at supporting the Internet of Things, the machine economy, and the digital transition into the Metaverse. In other words, it stores and executes online transactions in the IoT ecosystem. It is specifically designed to process and confirm online transactions between devices and machines connected to the Internet. The IOTA project was launched back in 2016. This digital asset offered users the advantage of fixed money at no inflationary cost. Its innovative quantum-secure protocol, Tangle, enables unique new features, such as zero transaction fees, infinite scalability, fast transactions, secure data transfer, and many others.
IOTA (MIOTA) is a smart contract platform that has fundamentally redesigned distributed ledger technology.
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