IOTA project purpose and description

IOTA clarity of purpose

IOTA purpose and aspects

High scalability, no mining, no blocks, no difficulty, no transaction fees, Trustless transactions between parties, Freedom of payments, Counterfeiting impossible, Fraud resistant, No single point of failure, No % based transfer costs, free to hold

IOTA additional differentiation against competition

Protocol is a directed acyclic graph (DAG) called the tangle instead of the traditional blockchain. Where a blockchain is a linked list where every block points to a unique descendant, in the tangle, a block links to two previous blocks.

Short description

IOTA enables companies to explore new business-2-business models by making every technological resource a potential service to be traded on an open market in real time, with no fees. The main innovation behind IOTA is the Tangle, a revolutionary new blockless distributed ledger which is scalable, lightweight and for the first time ever makes it possible to transfer value without any fees. Contrary to today’s Blockchains, consensus is no-longer decoupled but instead an intrinsic part of the system, leading to decentralized and self-regulating peer-to-peer network.


In this paper we analyze the mathematical foundations of IOTA, a cryptocurrency for the Internet-of-Things (IoT) industry. The main feature of this novel cryptocurrency is the tangle, a directed acyclic graph (DAG) for storing transactions. The tangle naturally succeeds the blockchain as its next revolutionary step, and offers features that are required to establish a machineto-machine micropayment system. An essential contribution of this paper is a family of Markov Chain Monte Carlo (MCMC) algorithms. These algorithms select attachment sites on the tangle for a transaction that has just arrived .

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