Tangles in IOTA to make crypto currency transactions free and secure

Abstract

Blockchain introduction has made a revolutionary change in the crypto currency around the world but it has not delivered on its promises of free and faster transaction confirmation. Serguei Popov's proposal of using tangles, a directed acyclic graph, which essentially is considered to be the successor of blockchains and offers the required features like machine to machine micro payment and fee-less transaction. It requires the user to approve the previous two transactions in the web to participate in the network. This essentially eliminates the miners and the mining part form the currency exchange and provides the user or participants to do their transactions fee-less. Since the participant verifies the previous two transactions it also contributes to the security of the tangle. In this paper, features of internet of things application (IOTA) and all the improvements in it using tangles are discussed along with how it contributed to the security and how it enables the participants to have fee-less transactions is also discussed.