IOTA (MIOTA)

The announcement from IOTA (MIOTA) development team on the upcoming Trinity wallet has left many of the community members and investors alike with a hope that the IOTA coin will soon hit the $3-mark. This was definitely poised to be the juicy part of the various IOTA developments to come this quarter.

However, other developments have taken center stage starting with the integration of IOTA payment to electrical vehicles charging stations in Netherlands. You can finally pay your ‘electric fuel’ through IOTA in over 20 stations across Netherlands. In all this though, the release of the IOTA Ecosystem this April will have as great an impact as the rest of the ‘major’ developments on the IOTA blockchain.

The IOTA Ecosystem

The test version of the IOTA Ecosystem was launched in late February with the full ecosystem planned to be released this March April according to their official Medium page. The IOTAE, to shorten the name, is designed to accommodate the community developers, startups on IOTA, enthusiasts and any common initiative to the world. The system is an open source decentralized platform that gives the stakeholders an opportunity to create distributed ledgers and applications in the simplest and most creative way.

The IOTA ecosystem brings together anyone with the will to be part of the IOTA community to interact, share, communicate, learn, educate in an effort to build a better IOTA network.

Impact of the IOTA Ecosystem

IOTA (MIOTA) is well known for its free machine to machine transaction fees. This though, is not the only benefit that IOTA users derive from the system. IOTA is a permission less distributed ledger using the ‘Tangle’ data structure at its core. This is new technology differentiates IOTA from other blockchains as IOTA platform has no  blocks, no chains, and also does not depend on miners.

The IOTA Ecosystem aims changing the world as we see it today. Any stakeholder, NGO, government officials, developers and any other interested party is welcomed to join the ecosystem where information is shared, educating of others, collaborating on projects, solving problems etc. The ecosystem is a special and unique decentralized development hub connecting the world. These are some of the uses of the Ecosystem outlined below;

  • Educational resources in the form of tutorials, videos and interactive tools
  • Developer resources including new libraries, modules and second layer applications
  • Matchmaking organizations and startups with IOTA developers who have the right expertise and reputation
  • Articles and blog posts related to the development of proof-of-concepts, pilots and other exciting happenings going on around the Ecosystem
  • Hackathons and other IOTA Ecosystem sponsored competitions and events
  • Philanthropic initiatives for positive social and environmental impact
  • A landing page for the EDF with a portal for applications and a window into the EDF to make our work completely transparent and accountable

Projects on the IOTA Ecosystem

The whole idea of the ecosystem does not hold solely on IOTA or even the development team. The system can be easily modified and improved by the average Depy, Joe or Lujan. It does not need the high experience of the blockchain system to use or understand. Currently various projects have already cropped up from the ecosystem with thousands of people already using the projects.

Some of the projects on the IOTA ecosystem includes;

  1. bIOTAsphere which is a project aimed at helping novices and beginners understand the whole IOTA network, how it works and advantages of MIOTA coins. This is the go-to site to understand the IOTA platform in detail.
  2. CarrIOTA is an internet of Things platform that allows users to manage and hold assets on secure and decentralized wallets. The platform works closely enough to the IOTA main platform, but through CarrIOTA, you can manage a household’s, business or corporations wallets at the same time with the same secure procedures working.
  3. Finally, FogNet, which also happens to be my favorite project so far. The project allows users to access the internet through your neighbor’s Bluetooth. Currently internet service providers (ISP) are in charge of providing data to you but the FogNet platform allows decentralized peer-to-peer data sharing through Bluetooth. How cool can that be?

IOTA (MIOTA) briefly touched the $2 barrier on Friday, after a green week in the whole cryptocurrency market as well as its real life uses put to test in Netherlands. This left investors wanting more of the same in the coming months and I definitely believe the IOTA Ecosystem will have an equally huge role to play in the real world application of the platform.

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