Special Features of IOTA Cryptocurrency
The minimum unit of the transaction using the IOTA is a million IOTAs called as MegaIota or Miota (Mi). Unlike the Bitcoin and other cryptocurrencies, IOTA does not use traditional blockchain technology. Instead, it uses a directed acyclic graph (DAG) also called the Tangle.
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. - IOTA.ORG
The blockchain technology is like a single ledger that keeps track of all the various transactions that a particular Bitcoin has gone through in order to prove that the value is truly there and that you are not exchanging worthless digital currency. This ‘ledger’ is verified by what is called as ‘miners’ who charge a certain transaction fee for their mining work.
The Tangle Ledger is significantly different in this respect. The verification of value is not done by designated ‘miners’ but by the users themselves. Every time you make a transaction, you automatically validate two random transactions. Thus the transactions are validated but using the power of the crowd instead of designated people.