Thursday, June 17, 2021

IOTA’s Dominik Schiener: We Are Building the Best Foundational Infrastructure Layer for New Digital Economies

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.

Read Also: Dominik Schiener: Over $220M IOTA Tokens Locked and Ready for Chrysalis Launch, $1 Billion Possible Before Launch

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.”

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.”

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.”


Follow us on Twitter, Facebook, Telegram, and Download Our Android App

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

Related Articles

Latest Articles