IOTA released its Q3 progress update. INCUCAI entered production on the mainnet, Pyth Pro went live on IOTA L1, the Rust SDK reached its first beta, and IOTA Explorer was rebuilt around network analytics.

Refer to the official tweet by IOTA:

IOTA Info

IOTA is a distributed ledger technology (DLT) that uses a unique directed acyclic graph (DAG) architecture called the Tangle. It enables decentralized, secure, and direct data and value transfers without traditional blockchain limitations. IOTA’s open-source tools support Web3 applications for individuals, businesses, and institutions.

IOTA’s mechanism of operation relies on the Tangle, which allows parallel transaction processing and overcomes scalability issues found in traditional blockchains. Unlike standard blockchains, IOTA operates without miners or validators, ensuring transactions are fee-free and efficient. This structure enhances operational efficiency and security, making it suitable for handling high volumes of transactions.

MIOTA is the native token of the IOTA network, used to facilitate transactions and interactions within the ecosystem. Its fee-less nature enables cost-effective transactions, supporting IOTA’s mission of enabling scalable and secure decentralized applications.