What is the concept of iota?

Could you please explain to me the fundamental concept of iota? I'm curious to know what makes it unique in the realm of cryptocurrencies and how it functions within the larger financial landscape. Is iota a type of blockchain technology? And if so, how does it differ from other blockchain-based currencies? Additionally, what are the potential benefits and drawbacks of investing in iota? I'm eager to gain a deeper understanding of this intriguing concept.