According to the creators of the IOTA project, Tangle technology (Directed Acyclic Graph is the technical name for Tangle technology) enables a higher speed of information transfer than blockchain.
And while miners are a very important link in blockchain technology and approve every transaction (which can take time) and charge a commission, with Tangle technology there is no need for a commission as each transaction automatically authorizes an additional two
Tangle technology uses a principle similar to Bitcoin’s Proof-of-Work, only it uses a lot less power and has a higher transfer rate.
The focus of IOTA is to create an ecosystem for the Internet of Things industry, more precisely a platform for executing transactions between all Internet of Things devices.
With around 20 billion such devices expected to exist by 2024, IOTA wants to become a leader in conducting transactions in the sector.