Blockchain (or “Distributed Ledger Technology” / DLT) has been attracting spectacular levels of attention from fans and critics alike over the past 12 months, not in the least because of the ups and downs in the cryptocurrency market.

While cryptocurrencies are but one out of many possible applications of Blockchain technology, they have so far received the bulk of the general public’s attention. With the most prominent currencies Bitcoin and Ethereum being featured even in mainstream news sources, much less attention has been paid to other representatives of the cryptocurrency genre. IOTA is one that stands out in particular with its direct acyclic graph (DAG) feature, which markedly distinguishes it from other cryptocurrencies.

In our “Explained in under 100 words” series we would like to take closer look at IOTA and explain how it works – as promised in less than 100 words!