IOTA is an open-source distributed ledger protocol that goes 'beyond blockchain' through its core invention of the blockless ‘Tangle’. The IOTA Tangle is a quantum-proof Directed Acyclic Graph, with no fees on transactions & no fixed limit on how many transactions can be confirmed per second in the network. Instead, throughput grows in conjunction with activity in the network; the more activity, the faster the network. Unlike blockchain architecture, IOTA has no separation between users and validators; rather, validation is an intrinsic property of using the ledger, thus avoiding centralization. IOTA is initially focused on serving as the backbone of the emerging Internet-of-Things (IoT).
IOTA, an open-source blockchain network, has teamed up with some of the biggest global corporate names led by Microsoft, Volkswagen, Tesla Automotive, Bosch and Samsung Group to launch what is aimed to be a secure marketplace for data, IOTA co-founder David Sønstebø said on Tuesday.