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.

On Thursday, the Iota Foundation, which oversees developments in the namesake Internet-of-Things transactions blockchain (IOTA), announced that it had been selected as one of five contractors by the European Commission to develop blockchain and distributed ledger technology in the region. According to the announcement, phase 2A aims to advance European Blockchain Services Infrastructure, or EBSI, in five areas:

  1. It will investigate the feasibility of sharding as to exponentially scale the Iota network on EBSI.
  2. Develop an approval weight consensus mechanism that will be highly flexible and allow both permissionless and permissioned use cases.
  3. Ensure any Iota-based solution for cross-border transfers abides by EBSI governance structures and any regulatory requirements from EU member states.
  4. Integrate its GDPR-compliant identity solution with the new framework for EU digital identity on EBSI.
  5. Prepare on and off-chain bridges to other protocols in and outside EBSI, including support for Ethereum Virtual Machine.

Based on the results of the phase 2A development over the next six months, a minimum of three out of five contractors will be chosen to advance to the next stage, where the European Commission will field-test the capabilities of the newly developed infrastructure and applications. Last September, Iota was one of seven enterprises chosen to support the early-stage innovation of the said European blockchain venture. With its signature decentralized acrylic graphs, the Iota blockchain is known for very little energy consumption and no gas fees. Previously, Assembly, a decentralized layer one smart contract network built within the Iota ecosystem, announced a $100 million capital raise from private investors while receiving praise from Dominik Schiener, Iota Foundation’s co-founder and chairman.

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IOTA Price Prediction – BIG Moment Ahead: $3 or $0.5?

IOTA prices shot recently about 45 percent. While many other cryptocurrencies have lost value, the price has been able to rise steadily. The new feature of staking was probably the reason. However, the price had hit the +/- $ 1.45 and $ 1.56 resistance areas. Because of this, prices might rebound and correct to the support zone of $ 1.17 and $ 1.23. The price is now well on the way to completing the correction, but could there soon be a strong breakout towards $ 3? Let’s check it out in this IOTA price prediction.

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IOTA Price establishes a Symmetrical Triangle!

The IOTA price has formed a trend line since the bull run, which started at the end of March 2020. This trend line served as support two weeks ago. Even during the bull run, the course was able to use the trend line as support several times. However, since the price peaked at $ 2.6773 in April 2021, the price has formed a trend line. This trend line always serves as resistance and steers towards the trend line that serves as support.

Because of this, a symmetrical triangle was formed. This triangle could break out at any moment, or in January. Should we break the upper trend line, then we could quickly rise to $ 3.5. This is where the target of the triangle lies if the price breaks out bullish. Should price break the support trendline then we would expect prices around $ 0.50. There is the next major support, where the course could catch.  

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As Bitcoin and Ethereum See Sharp Drops, 18 Crypto Assets Captured Double-Digit Gains Last Week

As Bitcoin and Ethereum See Sharp Drops, 18 Crypto Assets Captured Double-Digit Gains Last WeekWhile the crypto economy shed billions in value this week, 18 different digital assets have accrued double-digit gains during the last week. At the same time, the top two leading crypto assets by market capitalization, bitcoin and ethereum, have lost between 2.8% to 6.2% in value in seven days. 18 Crypto Assets See Values Increase […]

IOTA Staking is Coming! So you can now stake your MIOTA tokens!

Yesterday the IOTA Foundation announced: staking in the popular cryptocurrency is starting! Since December 21st, MIOTA token holders can start the pre-staking process and receive the first rewards after one week. Here you can find out everything you need to know about IOTA staking.

IOTA introduces staking

The cryptocurrency IOTA was one of the big stars during the bull market in 2017. In the following years, however, the network became quieter. The great expectations of the “Internet of Things”, which were met through major partnerships with, among others, the Bosch company, could never be fully met. So the value of the MIOTA Coins could never match those times.

However, IOTA still has an extremely large fan base. These fans now see themselves confirmed that the IOTA Foundation has now taken an important development step and is now introducing IOTA staking. This is intended to increase the adaptation of the recently introduced Shimmer and Assembly networks.

How does IOTA staking work?

IOTA provides for a token drop. Shimmer tokens (SMR) and assembly tokens (ASMB) are paid out to IOTA users after a staking phase. This token drop has 2 phases:

 – a pre-staking phase: the IOTA token holders should transfer their MIOTA to the Firefly wallet.

 – a staking phase: by staking their tokens, they create SMR and AMSB tokens. Upon reaching certain staking goals, they can receive the airdrop.

The pre-staking phase began on December 21st and lasts for a week through December 28th. The actual staking then takes 90 days.

The IOTA Foundation has published specific instructions for pre-staking on its Twitter account:

How can you take part in the Token drop promotion?

In order to take part in the IOTA campaign and stake the new network tokens, you must first purchase MIOTA tokens on an exchange. You can purchase MIOTA on Binance,  Coinbase,  Kraken, and  Bitfinex.

Then you follow the above instructions from IOTA. Get the in-house Firefly Wallet and start pre-staking! Then provide enough tokens so that you meet the requirements to receive the staking rewards!

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