Latest IOTA updates on March 28th

The IOTA Foundation has recently had some major updates. On March 27th, they were invited to join the Expert Panel of the EU Blockchain, they also announced their first spin-off, SPYCE.5, which provides enterprise-ready blockchain infrastructure, data management and digital asset tokenization solutions. On March 24th, they also signed the INATBA’s Open Letter for the preservation of the Electronic Ledger’s provisions in eIDAS 2. On March 22nd, their Shimmernet token was announced to come to Bitpanda. Finally, on March 21st, a proposal of a fast, secure and energy-efficient DLT-enabled architecture was published. All these updates from the IOTA Foundation demonstrate the project’s commitment to build a trustless, secure and permissionless blockchain.

What is IOTA ?

IOTA is an innovative distributed ledger technology that enables secure data and value transfer without any fees. IOTA is designed to be the backbone of the machine economy, allowing for the exchange of data and value between machines, people, and businesses. It is an open, global, and decentralized network that allows for anyone to securely access and transfer value and data, no matter where they are in the world.

IOTA uses a unique data structure called the Tangle, which is a Directed Acyclic Graph (DAG) based on a mathematical concept called a directed graph. This new data structure is the foundation for IOTA’s distributed ledger technology, which is designed to be secure, scalable, and fast. The Tangle allows for faster and cheaper transactions, while also enabling new types of applications that were not possible with legacy blockchain technology.

IOTA is also partnering with leading companies and organizations to create an ecosystem of applications and services that can be securely accessed and exchanged using IOTA’s distributed ledger technology. These applications and services can be used to facilitate global trade, secure digital identity, and enable new ways of managing natural resources. IOTA also provides a range of tools, such as Firefly Wallet, to help developers and businesses build applications that are secure and reliable.

The IOTA Foundation, which is the non-profit behind IOTA, also provides funding for research, development, and education. The Foundation is committed to advancing the adoption of distributed ledger technology and helping to create an open and secure digital infrastructure that is accessible to everyone.

Overall, IOTA is an exciting new technology that has the potential to revolutionize the way we exchange data and value. It is a secure, open, and decentralized network that allows for anyone to securely access and transfer value and data, no matter where they are in the world. With its unique data structure, IOTA can facilitate new types of applications and services, while also providing tools and funding for research, development, and education.

This article was published on 2023-01-28 by Marc Endevor. Information shown in this article was gathered from the project’s website and Twitter account. Coinvestigate cannot guarantee the accuracy of this information, or any news that may have impacted the project in the meantime.