The goal of the project: to revise and develop blockchain technology so that it can be used in the Internet of Things.
It is impossible to mine a new IOTA: the entire volume of coins was issued at the time of creation. When performing any work in IOTA, other transactions are simply confirmed, but no new tokens are created.
In the future, IOTA may offer companies to introduce new B2B models, in which each technological resource will be transferred to a potential service with the ability to be sold on the open market online, paying no fees. Secure communication channels in this case will be built through Tangle.
IOTA transaction features
- Transactions, regardless of their size, are free.
- Short confirmation time.
- The number of simultaneously processed transactions is not limited.
- The system is easily scalable.