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Infrastructure as a Service (IaaS) is a cloud computing service model that provides virtualized computing resources over the internet. In this model, the cloud service provider manages and controls the underlying infrastructure, including servers, storage, and networking hardware, while the users have control over operating systems, applications, and other software components.

Key features of Infrastructure as a Service (IaaS) include:

1. Virtualized resources: IaaS allows users to access virtualized computing resources such as virtual machines (VMs), virtual storage, and virtual networks. These resources can be easily provisioned and scaled based on the user's requirements.

2. Scalability: Users can scale up or down their infrastructure resources based on their needs, enabling them to handle varying workloads efficiently. This scalability eliminates the need for upfront investment in hardware and allows for cost optimization.

3. Self-service provisioning: Users have the ability to self-provision and manage their infrastructure resources through a web-based interface or an API. This self-service capability provides flexibility and agility to businesses, as they can quickly deploy and manage their infrastructure without depending on the cloud service provider.

4. Pay-as-you-go pricing: IaaS follows a pay-as-you-go pricing model, where users are billed based on their actual resource consumption. This allows organizations to optimize their costs by paying only for the resources they use, rather than making upfront investments in hardware and software licenses.

5. Security and maintenance: The cloud service provider is responsible for managing the underlying infrastructure, including security, maintenance, and updates. This relieves users from the burden of infrastructure management, allowing them to focus on their core business activities.

6. High availability and fault tolerance: IaaS providers typically offer redundancy and high availability features to ensure that applications and data remain accessible even in the event of hardware failures or disruptions. This improves the reliability and fault tolerance of the infrastructure.

Common examples of IaaS providers include Amazon Web Services (AWS) Elastic Compute Cloud (EC2), Microsoft Azure Virtual Machines, and Google Cloud Platform (GCP) Compute Engine. Organizations can leverage IaaS to build, deploy, and manage their applications and infrastructure in a flexible and scalable manner, without the need for substantial upfront investments or maintenance responsibilities.