In contrast to the blockchain, DAG has no blocks or chains, featuring an optimum structure for transaction models of IoT. Due to the limited size of blocks and the contention in ledger-updating, blockchain technology takes longer to confirm a transaction and charges a high service fee. Such high costs hinder blockchain’s large-scale commercial application in IoT, which has numerous micro transactions. The Tangle-based IOTA project offers a fitting solution to this problem.
IOTA technology is particularly suitable for use in the fields of Smart Cities and Infrastructure, Smart Grids, Supply Chain, Transport, and Mobile Applications, etc. Additionally, IOTA can serve as the pillar for all forms of P2P transaction settlements, e.g. internet payments or even remittances.
The IOTA project is currently managed by the IOTA Foundation registered in Germany. IOTA has a large community and attracts a huge amount of followers and discussions on social media, including many blog sites, Slack, Twitter, Medium, Reddit, and Facebook, among others. IOTA China (it’s community in China), also has lots of high quality discussions on the IOTA project.