IOTA enables companies to explore new business-2-business models by making every technological resource a potential service to be traded on an open market in real time, with no fees. The main innovation behind IOTA is the Tangle, a revolutionary new blockless distributed ledger which is scalable, lightweight and for the first time ever makes it possible to transfer value without any fees. Contrary to today’s Blockchains, consensus is no-longer decoupled but instead an intrinsic part of the system, leading to decentralized and self-regulating peer-to-peer network. [1]
| Unit | Alternate names | Abbreviation | Decimal (IOTA) |
|---|---|---|---|
| PetaIota | Piota | 1Pi | 1.000.000.000.000.000i |
| TeraIota | Tiota | 1Ti | 1.000.000.000.000i |
| GigaIota | Gigota | 1Gi | 1.000.000.000i |
| MegaIota | Miota | 1Mi | 1.000.000i |
| KiloIota | Kiota | 1Ki | 1.000i |
| Iota | IOTA | 1i | 1i |
A seed is a unique identifier that can be described as a combined username and password that grants you access to your IOTA.
Your seed is used to generate the addresses and private keys you will use to store and send IOTA, so this should be kept private and not shared with anyone. If anyone obtains your seed, they can generate the private keys associated with your addresses and access your IOTA. [2]
Contrary to traditional blockchain based systems such as Bitcoin, where your wallet addresses can be reused, IOTA’s addresses should only be used once (for outgoing transfers). That means there is no limit to the number of transactions an address can receive, but as soon as you’ve used funds from that address to make a transaction, this address should not be used anymore. [2]
Coincheckup.com - 01/04/2018
IOTA Subreddit FAQ - 01/04/2018