The United Arab Emirates increasingly attracts Web3 companies to its jurisdictions, becoming the center of global crypto innovation.
Iota aims to be the economic layer for the Internet of Things, bringing microtransactions and data storage to a network of connected devices. It uses a distributed ledger technology called the Tangle, which is based on directed acyclic graph technology rather than blockchain.
Iota began as a pivot from an IoT microprocessor venture called Jinn. The Jinn team held a crowdsale in September 2014, promising holders of its native Jinn token a share in the company’s profits. The team pivoted following concerns around the regulatory soundness of Jinn tokens. In 2015, the project announced Iota, a cryptocurrency network for IoT devices that utilized some of the cryptographic techniques researched and developed at Jinn.
Iota does not have blocks, miners or transaction fees as are featured in most public blockchain networks like Bitcoin or Ethereum. This is to allow the scalability and speed necessary for machine-to-machine microtransactions, which are denominated in its native token, MIOTA. Instead, each transaction validates the previous two transactions, achieving consensus first locally then globally.
The Iota Foundation, a German nonprofit, is currently building out the Iota ecosystem.
IOTA price saw a high volume surge that took the altcoin to a near one-year high, but are there reasons to support further upside?1949
The Iota Ecosystem DLT Foundation is the first to receive approval from regulators in Abu Dhabi after its financial authority passed a new, related law earlier in the month.7231
The bear market has been bad for cryptocurrency’s case against regulation. What comes next depends on how well we play ball, but Lummis–Gillibrand offers a favorable path forward.4433
The Iota Foundation joined Dell alongside ClimateCHECK and BioE to fight climate change using real-time carbon footprint data.5916
Cointelegraph tech reporter Tom Farren visited Imperial College London to gain firsthand insight into its joint project with Iota and the potential use cases for DLT in the environmental space.4704
In the coming months, Iota plans to pilot product passports for digital waste recycling and the cross-border management of intellectual property rights for artists' creative work.10673
Bitcoin's drop in the first ten days of 2022 is still less disappointing than some of its top crypto rivals that have fallen much harder.29630
“Assembly addresses the limitations of current scaling solutions by using the feeless base layer of Iota as an immutable trust anchor and as a trustless bridge for feeless interoperability of smart contracts,” said Schiener.10188
MonoX and BadgerDAO suffer callous security attacks, Borderless Capital opens a $500-million fund to advance Algorand’s ecosystem, and Iota is to launch Assembly in early 2022 — all coming to you in this week’s Finance Redefined.7749
The Assembly mainnet, which is expected to launch in 2022, has pledged to distribute 70% of its native ASMB token supply to an array of community participants.20662
Acala was victorious in Polkadot’s first parachain auction, Iota announced its staking network and Uniswap liquidity providers lose money — all coming to you in this week’s Finance Redefined.10798
The staging network, titled Shimmer, will ensure all upcoming Iota upgrades are community-approved before roll-out, one of the critical components of a decentralized governance system.9656
The platform will enable developers to set individual parameters for execution fees, a feature expected to suppress the fee prices to near-zero.8474
The Iota Foundation is one of seven enterprises chosen to support the early-stage innovation of a European blockchain venture.14101