Described as the ‘Next Generation of Blockchain’ IOTA as a cryptocurrency aims to provide a secure, lightweight and fast solution to micro-transactions, all without charging fees as you see in Bitcoin, Ethereum and other cryptocurrencies.
Taking it’s name from the ‘Internet of Things’ – IOT..a, IOTA goes beyond simply being yet another altcoin, it’s a progression on the traditional blockchain system, using instead a ‘Tangle’ based system.
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More on IOTA
Traditional cryptocurrencies are based on the blockchain with a distributed ledger generating each ‘block’, IOTA is the same albeit instead of working with blocks, the Tangle uses DAG – Directed Acyclic Graph.
The DAG system is often seen as superior to the usual blockchain due to the free transactions and scalability opportunities not afforded by systems like Bitcoin.