IOTA’s recently-launched Ecosystem Foundation is making its first series of investments, committing $10 million to to early-stage startups focused on digital trade and tokenization of real world assets (RWAs).
IOTA’s ShimmerEVM Bolsters Onboards Cross-Chain Capabilities With LayerZero’s Technology
The Shimmer bridge, a tool that transfers value between different blockchains that connect to LayerZero, will launch today.
Iota’s ShimmerEVM joins Fireblocks, targets demand for assets tokenization
The Iota Foundation wants to capitalize on institutional demand for real-world asset tokenization, which reached $342 billion in September.
Crypto Biz: UAE’s regulatory structure draws crypto firms, Canaan’s revenue slumps, and more
The United Arab Emirates increasingly attracts Web3 companies to its jurisdictions, becoming the center of global crypto innovation.
IOTA makes 40%+ move after $100M ecosystem foundation announcement
IOTA price saw a high volume surge that took the altcoin to a near 1-year high, but are there reasons to support further upside?
IOTA Jumps 43% After Registering Ecosystem Foundation in Abu Dhabi
Native token of the Iota ecosystem [IOTA] jumped 35% Wednesday on news about registering a development foundation in Abu Dhabi.
IOTA Jumps 43% After Registering Ecosystem Foundation in Abu Dhabi
Native token of the Iota ecosystem [IOTA] jumped 35% Wednesday on news about registering a development foundation in Abu Dhabi.
IOTA launches $100 million Abu Dhabi foundation for Middle East expansion
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.
IOTA Network to Debut ShimmerEVM’s Smart Contracts and Tokens
Users can also send SMR tokens (and in the future NFTs and custom Native Assets) to the ShimmerEVM through Firefly.
IOTA Eyes Big Crypto Leagues Again With Series of Network Boosting Plans
These changes are supposed to boost the value of iota tokens for holders and investors, alongside improving network security.
IOTA Releases Shimmer Public Test Chain Ahead of Native Ethereum Virtual Machine Launch
The public testnet will help developers improve the resilience, performance, and security of ShimmerEVM.
IOTA Foundation joins Dell to develop real-time carbon footprint tracking
The IOTA Foundation joined Dell along with ClimateCHECK and BioE to fight climate change using real-time carbon footprint data.
Why The IOTA Foundation Donated £1M To The Imperial College
The IOTA Foundation announced a major contribution to the Imperial College. The non-profit organization based in Europe donated £1 million to the world-renown academic institution to research potential improvements to the circular economy supported by decentralized ledger technology (DLT).
Related Reading | Why IOTA Was Chosen By The European Union To Develop Blockchain Solutions
According to the Ellen MacArthur Foundation, the circular economy contemplates a transformation of the world’s economic model to reduce or eliminate the production of waste. Thus, economic agents would adopt a “system solution framework” to prevent negative impacts on the environment.
The ultimate goal would be for humans to reduce waste and pollution from the production and supply chain and aid “nature to regenerate” itself. The Ellen MacArthur Foundation explains it as follows:
A circular economy decouples economic activity from the consumption of finite resources. It is a resilient system that is good for business, people and the environment.
In that sense, the IOTA Foundation and the Imperial College will collaborate to create an entity that will conduct research to promote the circular economy. Called the I3-LAB or Imperial-IOTA-Infrastructures Lab, the research facility will be located within the Dyson School of Design Engineering in London.
The lab will be comprised of prestigious academic faculty from this engineering school, including Professor of Cyber-Physical Systems and Deputy Director of the Dyson Robert Shorten. With a specialization in smart mobility, smart cities, sharing economy, and DLT, Shorten seems the right person to lead the initiative.
Via his Twitter account, IOTA founder Dominik Schiener stated the following while celebrating the crypto industry’s influence to improve issues that affect people while creating real-world use cases:
Many of us have joined crypto because we truly believe in the positive impact that we can have. We are here to decentralize, to empower and to create opportunities for everyone. Let’s use the money, knowledge and communities we have to accelerate that impact.
IOTA Makes Push To Support Sustainable Economy
As Schiener clarified, the developments that will come out of this Circular Economy Lab will be open source and everyone will have access. In that sense, he invited the IOTA community to take part in the initiative and added:
This will be the first of many philanthropic activities from the IOTA Foundation. Let’s accelerate our impact, together.
The Foundation also revealed that its contribution to the Imperial College will support doctoral studentships, and postdoctoral fellowships for those researchers interested in topics related to sustainable business models, tokenization, and more.
The non-profit organization also claimed that selected projects will require cooperation between researchers, local entrepreneurs, and authorities. Thus, DLT will be leveraged to resolve a wide variety of environmental challenges. Peter Cheung, Head of the Dyson School of Design Engineering said:
We are incredibly grateful to the IOTA Foundation for their support. Innovation in sustainable growth is one of the key research themes for the Dyson School and this grant will bring new impetus to research on the technological drivers of the circular economy.
Related Reading | IOTA to Release Smart Contract Network ‘Assembly’ And Distribute ASMB Token
As of press time, MIOTA trades at $0.87 with sideways movement in the past 24 hours. The cryptocurrency has been following the general trend in the crypto market as it revisits support after BTC’s price was rejected at critical resistance.
MIOTA moving sideways in the 4-hour chart. Source: MIOTAUSDT Tradingview
Why IOTA Was Chosen By The European Union To Develop Blockchain Solutions
IOTA was selected as one of the projects that will take part in the European Union Blockchain Pre-Commercial Procurement. The platform will be competing with four projects in a second round for this EU program for a chance at improving the European Blockchain Services Infrastructure (EBSI).
Related Reading | IOTA Smart Contracts Enter Beta Phase To Circumvent Network Flaws
Announced by the IOTA Foundation (IF), the network has reached stage two out of three after it was selected from around 35 applicants. This second phase will last around six months, per the announcement, and will have a special focus on research, development, and lab testing.
The IOTA Foundation will receive support from the European Commission in order to investigate and develop “blockchain innovations in the context of testing how future evolutions of EBSI could evolve towards a more scalable, energy-efficient, secure and interoperable architecture”.
In that sense, the IOTA Foundation revealed that it will partner with Software AG to implement the developed solution. After, the EU Commission will launch an evaluation phase to test the results of its program’s second phase and the progress each participant has accomplished. The IF added the following:
(…) based on this evaluation, a minimum of three projects will be selected to move on to Phase 2B, final solutions development and field testing, which is expected to last another year.
Therefore, the non-profit organization will start testing blockchain solutions based on IOTA, specifically they will test a use case for digital product passports for digital waste recycling and a cross-border management of IP rights, the announcement said. Besides Software AG, the IF will rely on other partners and will attempt to growth its partner network.
In the past, the organization has worked with major companies from around the world to help them develop multiple use cases. This includes software giant IBM, Dell Technologies, Jaguar Land Rover, and others.
IOTA To Power EU Supported Blockchain Solutions?
In its final stage, the EU program will require projects to field test the capabilities of their proposals. The IF claimed to be “excited” about its role on this European driven initiative and added:
We very much support the strategic focus placed by the European Commission on blockchain and distributed ledger technology as a driver for innovation and growth. We are privileged to be part of this pre-commercial procurement procedure to develop a Europe-wide infrastructure based on blockchain and DLT for use in public services (…).
IOTA will dedicate resources to develop solutions and use cases on Scalability, and the implementation of sharding on the EBSI infrastructure. The objective is to improve the protocol’s scale capabilities to onboard and support the users that will leverage the EBSI network.
The IF will attempt to develop its sharding solution with a “root network” approach. In other words, a main network will be connected to a series of leaf or branch smaller networks. In addition, the organization will work on its consensus and governance mechanism, its interoperability, and potential to implement identity solutions.
Related Reading | IOTA to Release Smart Contract Network ‘Assembly’ And Distribute ASMB Token
At the time of writing, IOTA trades at $1,11 with a 1.9% loss in 24 hours.
MIOTA with small gains on the 4-hour chart. Source: MIOTAUSDT Tradingview
Iota selected for Phase 2A of EU blockchain initiative
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.
These 3 cryptocurrencies are taking an even bigger hit during Bitcoin’s price slump
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.
Assembly announces $100M capital raise, receives praise from IOTA co-founder Dominik Schiener
“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.
IOTA to Release Smart Contract Network ‘Assembly’ And Distribute ASMB Token
The ledger IOTA aims to become “a fully decentralized, feeless multi-asset ledger” by launching Assembly in 2022, a governance layer one for permissionless smart contracts, along with the native token ASMB that will open the doors for the network’s main stakeholders, who would be democratizing Assembly.
IOTA’s founders say the ledger is a “public permission-less backbone for the Internet of Things that enables interoperability between multiple devices.” It aims to provide decentralized transactions accessible for everyone, without the need for miners or blocks, offering solutions for the cost fees, increasing scalability, and staying secure by using the Tangle network.
As the Shimmer network was released only two weeks ago along with its own token -with real monetary value, most likely to be traded on crypto exchanges- to stake, some skeptical users questioned the actual need for Assembly, but enthusiasts have compared to a scalable Ethereum without imposed fees.
Smart contracts will be allowed to run for free, but there is an option to put a price when high computing power is needed, in which cases supply and demand will determine prices.
Smart contract chains can be fully run from Assembly’s own network, which is the reason for all activities to be anchored to the IOTA Tangle to provide trust by “making them fully immutable and secure”.
Related Reading | IOTA Smart Contracts Enter Beta Phase To Circumvent Network Flaws
The Staking Of Assembly (ASMB) Token
Proof of Stake also works to provide trust. As a decentralized network, of course, Assembly has no central system to reach if a user requires assistance, so staking comes to play as a wide community is meant to be built through the ASMB token, with members who care about the safety and maintenance of the network: validators.
If validators do not play the role of making sure the rules are followed, they get penalized. Just as well, playing by the rules generates revenue for validators in form of more tokens. All that is required to deploy smart contract chains or become a validator is to run a node or own “a small amount” of the ASMB token “to stake as a security deposit”.
The ASMB token will have “70% going to the community”. In the beginning, tokens will be created during a 90-day period when users will be able to “stake IOTA tokens in order to earn ASMB tokens.” -by locking IOTA on the Firefly wallet-, then tokens will be able to get claimed for free, and there will be a period 2 years for users to get their staking rewards.
20% of the initial token supply will go to IOTA holders. Afterward, there will be more staking periods for the ASMB token distribution. Assemble was further described by Dominik Schiener, IOTA’s co-founder, as:
A fully decentralized, permissionless network. It’s an extension of the Smart Contracts framework (live in Beta), and adds a validator pool, the ASMB token, staking and slashing. Anyone can deploy fully sharded smart contract networks on Assembly, while benefitting from the shared security, trustless interoperability, and feeless transactions.
No more bridges, relays or M-of-N multisigs. We’re here to connect smart contracts. … What makes Assembly so unique is that you can customize fees and incentives.
He also stated the Assembly’s journey is only starting and they will be sharing more details on the Builders Program and the support that teams building on Assembly and IOTA will receive. “Hint: It involves a lot of financial support”, he said.
Related Reading | How IOTA Could Reach $1B In Tokens Locked Before Chrysalis 2.0
IOTA trading at $1.3910 in the daily chart | Source: IOTAUSD on TradingView.com
Iota set to launch decentralized smart contract platform to expand Web3 ecosystem
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.
Iota Foundation to launch staging network and reward token
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.