"a blockchain focused for utilization with the Internet Of Things (IoT)."

Actually, IOTA doesn't use blockchain; it uses uses a directed acyclic graph (DAG) mostly referred as "tangle".

I'm not very good at explaining it but here's how the transactions work:

"For an IOTA user to send out a transaction, the user must validate two other, randomly selected transactions. A sent transaction must accumulate a sufficient level of verification (i.e. must be validated a sufficient number of times by other users) in order to be accepted as “confirmed” by its recipient." -From Wikipedia.