“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.
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 Nectar DevNet follows on the heels of the Chrysalis upgrade and is an expansion of the Pollen Testnet released back in June 2020.10100
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.57730
Developers can now try out the upcoming WebAssembly smart contract platform.11758
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.64387
Ethereum takes aim at $2,000 while Bitcoin price retraces slightly to retest underlying support.30085
Qtum, Status and Iota recently broke free of their long term downtrends after each network added new features and announced new partnerships.20485
Ubrich GmbH is providing a solution using Iota to the Frankfurt Airport coronavirus testing center.14376
Addressing the community and board members, David Sønstebø reveals contradictory details about his split with the IOTA Foundation37063
The Iota board said it had “parted ways” with Sønstebø due to the fact its interests have “diverged significantly” with those of the co-founder.8251
The Iota Foundation is teaming up with one of Austria’s most prestigious universities to foster research in distributed ledger technologies.12642
XRP, Stellar and Cardano are some of the cryptocurrencies spearheading the rally as traders herald "alt season."52241
The IOTA blockchain finds a use case in industrial maintenance.9547
Backed by players like Ripple and ConsenSys, the INATBA association responds to the EC’s legislative proposals on crypto.4747
Blockchain could help shared device merchants avoid credit card fees, MasterCard says.5014