IOTA

2024

Evolution

Foundation

<ul> 
 <li><strong>IOTA plans to bring billions of real-world assets on-chain through tokenization.</strong></li> 
 <li><strong>IOTA’s use of directed acyclic graph (DAG) technology enables faster, fee-less transactions and supports its transition to a robust Web3 ecosystem.</strong></li> 
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    <p>Following a recent interview, Dominik Schiener stated that the IOTA Foundation plans to bring billions of assets on-chain through RWA tokenization, as <a href="https://www.crypto-news-flash.com/interview-iota-foundation-plans-to-bring-billions-of-assets-on-chain-through-rwa-tokenization-says-dominik-schiener/">reported</a> by CNF last June. In a revealing interview with Professor Jo on a popular Korean YouTube <a href="https://www.youtube.com/watch?v=tEgT0ycy-bs">channel</a>, co-founder of IOTA, Dominik Schiener, shared his intriguing journey of IOTA, a blockchain project that was initially part of his high school startup in 2015 and turned into a groundbreaking initiative worth over a trillion Korean won.</p> 
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<p>The conversation delved into IOTA’s beginnings, its transition to Web3, and its ambitious plans for real-world asset (RWA) tokenization. Dominik Schiener, shared his excitement on his X account about a productive discussion with Professor Jo, where they delved into IOTA’s journey, its unique differentiators, and its commitment to real-world adoption.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Had a great talk with Professor Jo talking about <a href="https://twitter.com/hashtag/IOTA?src=hash&amp;ref_src=twsrc%5Etfw">#IOTA</a>, our history and how we differentiate from everybody else by focusing on real world adoption. </p> 
 <p>Thank you Prof. Jo for the interview and letting me explain IOTA to your Korean community <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/YKPwncXCPB">https://t.co/YKPwncXCPB</a></p> 
 <p>— Dominik Schiener (@DomSchiener) <a href="https://twitter.com/DomSchiener/status/1815274115613274536?ref_src=twsrc%5Etfw">July 22, 2024</a></p>
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<h2 id="iota-s-vision-and-technological-approach">IOTA’s Vision and Technological Approach</h2> 
<p>Schiener explained that IOTA aims to <a href="https://www.crypto-news-flash.com/iota-is-here-for-the-long-term-trillions-or-nothing-says-dominik-schiener/">ensure</a> blockchain adoption in real-world applications by using a directed acyclic graph (DAG) structure, which allows for faster, more efficient, and fee-less transactions. He stated,</p> 
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 <p>Our vision was always to make sure that blockchain gets adoption in the real world, that it really fulfills its purpose as a technology that impacts our lives and is used in everyday life.</p>
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<p>To adapt to the evolving blockchain landscape, IOTA launched its Ethereum Virtual Machine (EVM)-compatible layer 2 chain, facilitating decentralized applications (dApps) and building a robust Web3 ecosystem. Schiener noted,</p> 
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 <p>Instead of having a blockchain, which is this sequential chain of blocks, we introduced a directed acyclic graph (DAG). This allows for parallel processing of transactions, leading to faster, more energy-efficient operations with potentially no transaction fees.</p>
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<h2 id="porespectives-and-real-world-asset-tokenization">Porespectives and Real-World Asset Tokenization</h2> 
<p>IOTA 2.0 will feature a decentralized, permissionless consensus mechanism, enabling anyone to become a network validator. Additionally, IOTA is focusing on tokenizing real-world assets (RWAs) such as treasury bills, ETFs, and trade finance assets, collaborating with platforms like Tokeny and regulatory bodies to enhance liquidity in the decentralized finance (DeFi) ecosystem.</p> 
<p>The recent launch of IOTA EVM opens new <a href="https://www.crypto-news-flash.com/building-the-future-of-iot-an-exclusive-interview-with-iota-founder-dominik-schiener/">opportunities</a> for community involvement in token launches and DeFi applications. Currently, IOTA is trading at <strong>$0.1733</strong>, with a decrease of <span style="color: #ff0000;"><strong>3.69%</strong></span> in the past day and an increase of <span style="color: #008000;"><strong>0.86%</strong> </span>in the past week. See IOTA price chart below.</p> 
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The Evolution of IOTA: From IoT to Web3 and Real-World Asset Tokenization

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