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.
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.
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.7934
The platform will enable developers to set individual parameters for execution fees, a feature expected to suppress the fee prices to near-zero.7376
The Iota Foundation is one of seven enterprises chosen to support the early-stage innovation of a European blockchain venture.13182
BTC bulls are still trying to flip $50,000 to support and if this occurs LTC, FIL, FTT and MIOTA could rally higher.34675
PRE, ANT and MIOTA lead altcoins higher as increasing bullish momentum has analysts calling for Bitcoin price to overtake $50,000.14610
Muse frontman Matt Bellamy is tokenizing and selling a song recorded on the same guitar Jeff Buckley used to record his hit album Grace.2550
“The fundamental goal of this collaboration is to enable granular control over data and to reduce the reliance on centralized systems that take advantage of data,” said Humayun Sheikh, CEO of Fetch.ai.14010
The Nectar DevNet follows on the heels of the Chrysalis upgrade and is an expansion of the Pollen Testnet released back in June 2020.10839
Traders appear to be waiting for a trigger to start the next leg of Bitcoin's uptrend and if that happens, XLM, MIOTA, XMR and XTZ could join the party.58220
Developers can now try out the upcoming WebAssembly smart contract platform.12119
Bitcoin’s correction is accelerating, but a bounce off the 50-day moving average could give altcoins reason to rebound off lower support levels then move higher.64677
Ethereum takes aim at $2,000 while Bitcoin price retraces slightly to retest underlying support.30195
Qtum, Status and Iota recently broke free of their long term downtrends after each network added new features and announced new partnerships.20760
Ubrich GmbH is providing a solution using Iota to the Frankfurt Airport coronavirus testing center.14529