IOTA has developed a blockchain substitute dubbed The Tangle that is impervious to quantum computing and makes use of directed acyclic graphs, which can only ever build in one direction.
An innovative form of distributed ledger technology (DLT) created especially for the Internet of Things (IoT) environment is the IOTA Tangle. Instead of using the conventional blockchain concept, the IOTA system is based on a novel kind of DLT. The non-profit IOTA Foundation, which is established and registered in Germany, was responsible for its creation. The Tangle is one of the new DLTs that the IOTA Foundation is working to build and standardize.
For the purpose of validating transactions on a distributed ledger, Tangle employs a proof-of-work (PoW) scheme. The PoW system utilized by Tangle is comparable to that of bitcoin, except it consumes less energy and operates more quickly (including the one used by bitcoin).
The design of Tangle is interconnected, therefore full ledger verification is not necessary. Instead, all parties are simultaneously verifying, which reduces the amount of effort and time needed to execute transactions. Additionally, Tangle’s verification procedure aims to prevent double-spending by checking that no transactions have been processed more than once.