IOTA expressed, While a new lunar year begins, they are continuing to focus on making IOTA the digital infrastructure for an entirely new economy. In a recently IOTA talks episode with Dominik Schiener and Daniel Thompson they discussed a lot of things.

Dominik Schiener, reminded everybody that they are working with a very big mission and vision. He pointed to how there is a lot of exciting developments and really the fruits of their work at the IOTA Foundation of the IOTA project itself are still ahead of us.

During the IOTA talks Dominik stated that he just wanted to start with a recap because many new people that first heard about IOTA that are kind of refreshing the memories when they first heard about IOTA in 2017 probably are asking So, what is IOTA in 2021? Dominik stated that it is a very important question to answer. He stated, let me just start with the vision.  The major vision of the IOTA was the internet of things. And, the major vision of IOTA is still the internet of things.

We are still building the machine economy.  And, IOTA is the protocol that is the nearest to the machine economy because what we do is transactional settlement, which is machine to machine payments, highly scalable and which are micro payments, enabling data security – value transfer of data and making it immutable and sharable. And, all of these involves the machine economy where the machines start trading with each other.

And, they might be trading resources, they might be trading services, and they might be trading lots and lots of data.  And, that is exactly what is IOTA protocol was made for and that they went on this quest to basically reengineering the blockchain technology itself and come up with this new distributed ledger architecture, which is the Tangle.

IOTA has been working over the past few years in getting their architecture right making sure it is scalable, production ready, removing the biggest pain points and bottle necks in terms of adoption. And all this to present to the community and to the ecosystem a technology stack that is really productive, where they can really get it adopted and get it integrated in to those machines and those IOT devices.

This year (2021) they feel they have a very exciting year ahead of them where all of these different puzzle pieces are coming together to build up this beautiful mosaic. Chrysalis coming out in probably around a month, which is set to be the biggest upgrade in IOTA’s history.  They are set to remove all of the non-standard technology, remove non-optimized algorithm, and bring forward a new protocol that has been reengineered from the ground up.

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