Abstract
The IOTA Tangle cryptocurrency represents the next evolution in distributed ledger technology, designed to facilitate transactions in the Internet of Things applications. Compared to traditional blockchain architectures, the IOTA presents attractive characteristics, including high scalability, zero-fee transactions, higher achievable transactions per second, and lower energy consumption. The consensus mechanism in IOTA 1.0 and 1.5 relied on a centralized coordinator solution for transaction validation. IOTA 2.0, designed in 2020, is the first fully decentralized network that supports smart contracts. This paper provides a comprehensive overview of the IOTA Tangle 2.0.
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