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IOTA is an open-source distributed ledger ecosystem built around its own Layer 1 network and smart-contract environments for building Web3 applications.

At the base layer, IOTA has moved to a validator-based delegated Proof-of-Stake model, with staking and delegation securing the network. The protocol is designed as an object-oriented ledger and supports Move-based smart contracts at Layer 1, alongside an updated economic model that includes transaction fees and mechanisms for managing on-chain storage.

In parallel, IOTA also offers an EVM environment so developers can deploy Solidity contracts and use familiar Ethereum tooling. This EVM execution runs as a separate smart-contract layer integrated with the IOTA ecosystem, enabling interoperability between the base network and EVM apps.

Overall, IOTA positions itself as a developer-friendly platform combining a PoS-secured L1, Move smart contracts, and EVM compatibility, supported by wallets, SDKs, and ecosystem tooling.

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