IOTA is a decentralized form of digital currency that is not based on Blockchain, which is a public ledger, but rather on a “Tangle” ledger, it is a new blockless ledger that is able to complete transactions with zero fee-cost. In simpler terms, it helps devices to trade the exact amounts and will be received by the receiver with no deductions.
The new ledger also has the capability to store and verify data from data loggers with high security. One of the features that most crypto enthusiasts look forward to IOTA is its ledger- Tangle, which leads to more decentralized transactions and self-regulating peer-to-peer network.
This ledger is scalable and lightweight, which means that there are still many use-cases the developers are trying to come up with. According to them, Tangle has just barely begun. Soon they will be able to create more solutions and uses with the distributed ledger revolution that they have created, which is called the “Tangle”.
Video Iota Explanation
Through its Tangle ledger, IOTA has the ability to transfer data. IOTA users will be given several options on how they can do the transfer themselves. Thus, establishing authenticated and secure communications channels possible. Every data transfer will remain untapped and thoroughly verified making it extremely difficult for other people to gain access to the data.
How IOTA works?
IOTA developers refer this crypto as the “Internet-of-Things”, which helps various companies to discover, explore, and study new business to business models by making use of any technological resource that could potentially use as a token that can be traded on the open market anytime with absolutely no fees to be paid.
It also allows the devices to transmit sensitive and valuable data with security that is thoroughly analyzed through Tangle. This leads to sharing data with multiple parties possible and easy. Just like listening to a radio, there are many parties that can tune on the frequency to hear and get the broadcast data.