IOTA, a project initially conceived in 2015, has carved a unique path in the blockchain space. Co-founder Dominik Schiener, in a recent interview with Professor Jo on a popular Korean YouTube channel, shed light on IOTA’s journey from a high school startup to a prominent player with ambitions to bridge the gap between the digital and physical worlds through real-world asset (RWA) tokenization.
Schiener emphasized IOTA’s unwavering commitment to real-world adoption. This focus is reflected in their core technology – a directed acyclic graph (DAG) structure. Unlike traditional blockchains with their linear sequence, IOTA’s DAG allows for parallel processing, enabling faster, more efficient, and potentially fee-less transactions. Schiener highlights, “Our vision was always to make sure that blockchain gets adoption in the real world…used in everyday life.”
Recognizing the evolving blockchain landscape, IOTA strategically launched an Ethereum Virtual Machine (EVM)-compatible layer 2 chain. This move facilitates the development of decentralized applications (dApps), fostering a robust Web3 ecosystem. Schiener explains, “Instead of having a blockchain…we introduced a directed acyclic graph…leading to faster, more energy-efficient operations with potentially no transaction fees.”
The future of IOTA looks even more transformative with IOTA 2.0. This iteration will introduce a decentralized, permissionless consensus mechanism, opening the door for anyone to participate in network validation. Furthermore, IOTA is spearheading the tokenization of real-world assets like treasury bills, ETFs, and trade finance assets. Collaborations with platforms like Tokeny and regulatory bodies aim to enhance liquidity within the decentralized finance (DeFi) ecosystem. The recent launch of IOTA EVM further empowers the community to actively participate in token launches and DeFi applications.
While IOTA’s current price sits at $0.1733, with some recent fluctuations, its focus on real-world adoption and technological innovation positions it as a project to watch in the ever-evolving blockchain landscape. With RWA tokenization and a thriving Web3 ecosystem on the horizon, IOTA’s potential to impact everyday life seems closer than ever.