IOTA’s Dominik Schiener: We Are Building the Best Foundational Infrastructure Layer for New Digital Economies
Tobi Loba
3 min read
Dominik Schiener, the co-founder of IOTA, has recently reiterated his confidence in the crypto project as the team continues to build.
In a tweet moments ago, Schiener stressed the reason why he remains confident about IOTA. He said the team is building IOTA as the best platform for new digital economies.
Schiener pointed out that no one can compare the uniqueness of IOTA, citing the feeless transactions as what makes the crypto project stand out.
In the tweet, the IOTA co-founder captioned a GIF that demonstrated the power of the IOTA Tangle. He said the Tangle currently runs smoothly at over 60 transactions per second.
Dominik Schiener tweeted, “Why am I so confident about IOTA? We are building the best foundational infrastructure layer for new digital economies to be built on. And it’s Feeless! No one else can compare. You can watch it live! This is the IOTA Tangle, running smoothly at 60+ TPS.”
Why am I so confident about #IOTA? We are building the best foundational infrastructure layer for new digital economies to be built on. And it's #Feeless! No one else can compare.
You can watch it live! This is the IOTA Tangle, running smoothly at 60+ TPS https://t.co/pBohzGowDR pic.twitter.com/pAHyYhdV00
— Dominik Schiener (@DomSchiener) May 11, 2021
Read Also: IOTA Co-Founder Dominik Schiener Brings Fintech Startup CredX To Distributed Ledger Ecosystem
The Beta Version of IOTA Identity Has Been Released
IOTA continues to make progress in its quest to promote digital identity, in order to boost the reliability of all information across social media and beyond.
A few days ago, IOTA Foundation announced the launch of the beta version of IOTA Identity, a Self-Sovereign Identity (SSI) framework that enables people, organizations, or machines to create and have complete control over a digital identity – without the permission of an intermediary or central party.
Read Also: IOTA Completes Chrysalis Upgrade, Advances to Token Migration Phase
IOTA Foundation tweeted, “Taking control over your personal digital identity! We’re thrilled to announce the release of IOTA Identity Beta, our approach to Self Sovereign Identity SSI.”
Taking control over your personal #digitalidentity!
We’re thrilled to announce the release of #IOTAIdentity Beta, our approach to Self Sovereign Identity #SSI.Learn more on the new features introduced on this beta release: https://t.co/4hCTRFlhS1#IOTA pic.twitter.com/jfsqexrpNN
— IOTA (@iota) May 10, 2021
The report further stated that the release marks the framework as “feature complete” on the road to a 1.0 version. This includes major developments such as the upgrade to Chrysalis Phase 2, among others.
Read Also: Debate on the True Identity of Bitcoin Creator Satoshi Nakamoto Reignited
One of the major reasons for IOTA Identity is stated as follows:
“Social media platforms like Facebook and Linkedin show us every day that online accounts are heavily reliant on user-submitted content. The information provided on these platforms are not trustworthy and can easily be faked – we want to prevent that with our digital identity solution.”
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