Differences with other tech

How it is different than other cryptoassets like bitcoin.

At a high level, there are at least four major differences with IOTA and the associated Tangle technology:

i. infinitely scalability: Since each transaction requires the sender to verify two other transactions on the Tangle, more transactions can be confirmed as the number of users sending them increases. This means that IOTA scales proportionally to the number of transactions

To confirm these two transactions, a device performs low difficulty “proof of work”, which is essentially just a series of mathematical problems. These math problems can be done by most modern devices including laptops and phones.

ii. 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.

iii. no fees: Because the Tangle eliminates the requirement of miners, newly minted units of currency and transaction fees do not need to be extracted from the system to pay validation fees. The result is that IOTA has zero fees.

iv. a 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 is 2,779,530,283.