IOTA is a distributed network that uses the MIOTA unit as digital currency. IOTA is significantly different from other cryptocurrencies as it uses the 'Tangle' rather than blockchain technology. The Tangle forces users to contribute to the security and agility of the network by verifying two previous transactions on the network rather than paying transaction fees or staking coins. The structure of the Tangle allows IOTA to be scalable, flexible and transaction cost-free.