The circuit used is a type of collector resonance Royer oscillator which has the advantages of simplicity and self resonant operation. A very similar circuit is used in common inverter circuits used for powering fluorescent lighting such as LCD backlights. They drive a center tapped transformer which steps up the voltage to around 800V for powering the lights. In this DIY induction heater circuit the transformer consists of the work coil and the object to be heated.