IOTA is a cryptocurrency designed for the Internet of Things. But before we get into why the Internet of Things needs IOTA, lets look at what IOTA can offer to the existing cryptocurrency scene. (Don’t worry, we will return to the internet of things later). IOTA has 4 HUGE advantages over Blockchain cryptocurrencies in that it is:
Scalable
Decenteralized
Modular
Fee Less
(Fast transactions)
Transaction times are inversely proportional to the number of transactions on the Tangle. The more transactions, the more quickly each transaction will be confirmed. As IOTA approaches critical mass of adoption, transaction times will approach the network propagation time.
(Fixed Money Supply)
All of the IOTA that will ever exist were created in the genesis block. The amount will never increase or decrease. The total money supply of 2,779,530,283,277,761 is optimized for ternary computation and notation ease of use utilizing SI units. ((3^33-1)/2) = 2.779 x 10^15
(Other Features)
Other features include: immutable ledger, sharding/snapshotting/swarming, modularity, extremely lightweight, secure data transfer, decentralized, and private.