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IOTA community approves DAO vote to expand community governance

IOTA, one of the largest crypto ecosystems, announced today its community’s approval of the establishment of a community-owned decentralized autonomous organization (DAO). Starting Monday, June 13, and following a 17-day voting process, community members chose not to eliminate a significant portion of remaining unclaimed tokens in IOTA’s ledger and voted instead to reallocate them into […]

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Blockchain

IOTA Vs. IoTeX: Key Differences

IOTA Vs IoTeX Key Differences

Over the past decade, the crypto industry and blockchain technology have seen significant growth. Digital assets such as Bitcoin, which were among the first, were widely utilized as digital assets. The majority of new tokens and technologies that enter the market have real-world applications. This is happening even though they, like Bitcoin and other cryptos,…Read More

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Panama Lawmakers Pass Bill That Will Regulate Bitcoin (BTC) and Eight Other Cryptos

Legislators in Panama are passing a new bill that regulates the use of leading digital asset Bitcoin (BTC) and eight other crypto assets. According to Panamanian Congressman Gabriel Silva, the Central American nation has passed legislation that permits unlimited use of nine cryptocurrencies as a means of payment for individuals, banks, and other businesses. “Crypto […]

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Cardano (ADA) Founder, Charles Hoskinson Accused of Falsifying His Bio

Charles Hoskinson, a famous American software developer, founder of Cardano (ADA), Co-founder of Ethereum, and a successful entrepreneur, defended fame as an arrogant crypto space debater. In Germany, Charles Hoskinson had already criticized IOTA, cryptocurrency, almost twelve months ago and impeached IOTA for false reporting on the subject matter “freedom from fees.”  Related Readings | […]

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Cardano Developer Reveals Progress On Scaling Protocol Hydra

Cardano announced its Hydra protocol last year and has continued to develop on it ever since. The project which finally gained smart contract capability in 2021 has been making strides in proving that it is a force to be reckoned with in the space. Its decentralized finance (DeFi) space has begun to take off. Now, it offers insight into the Hydra protocol and how much progress the team has made with scaling it. Hydra Has Evolved In a recently published report on its official website, the developer behind Cardano known as IOG has provided more information on what the project Hydra is up to. It explains where the protocol is now if far from where it is coming from. Hydra which was created by the Ouborous team to increase throughput, minimize latency, and provide cost-efficient solutions without sacrificing storage resources continues to evolve. Related Reading | Bitcoin On-Chain Demands Suggests That The Market Has Reached Its Bottom Hydra has now matured into a proof of concept protocol, something that was not in the initial roadmap. This has pushed the project towards “a more defined implementation for the testate MVP.” There are different Hydra Heads, which involve a robust network layer between Cardano and other blockchains, as well as other smart contracts that will drive the lifecycle of a Hydra Head. Acting as a mini-ledger, it works similarly to the on-chain main ledger of the Cardano network, but on a smaller scale, as well as off-chain. ADA trending around $1 | Source: ADAUSD on TradingView.com With the consensus algorithm provided on this protocol, all parties involved in a transaction need to agree before it is allowed to go through. This provides a very high level of security for those using the protocol. “A consequence of this is that, as a participant, I cannot lose money I haven’t explicitly agreed to lose. Why? Because any valid transaction requires my explicit approval,” the report reads. Cardano Heading To A Million TPS One of the selling points of the Cardano network is how many transactions per second it can process. The proof of stake network is significantly faster than ethereum, its leading competitor. The project is committed to improving the TPS. However, that is not all Hydra is about. Related Reading | Why The IOTA Foundation Donated £1M To The Imperial College Although TPS can sound like an important metric, the report establishes that it is the least meaningful metric to use when carrying out a comparison since transactions can come in different shapes and sizes. Yes, the blockchain is working towards more scalability but “scalability isn’t about a million TPS.” Instead of looking at TPS, the report asks to look at throughput, finality, and concurrency, since these metrics rank as more important in the grand scheme of things. These three metrics represent volume, speed, and amount of work done, the report says. Featured image from Blaze Trends, chart from TradingView.com

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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.