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IOTA Wants To Reclaim Its Past Glory With a Major Upgrade And Lots of New Features

Remember IOTA? The futuristic cryptocurrency that ignited the crypto community during the ICO boom of 2017, promising a decentralized solution for the Internet of Things? The one that faded from investors’ portfolios until it was almost forgotten? Well, it looks like it has the potential to rise from the dead… Or at least that’s what its co-founder claims.
A recent update and an internal reorganization are awakening the optimism of IOTA’s developers and hodlers, who believe that the project could be back on the road to success.
A New IOTA to Leave The Past Behind
IOTA Foundation Co-founder and CEO Dominik Schiener told ZDNet that the much-loved cryptocurrency was reinventing itself. It has changed so much that its developers are practically talking about a new project in essence.
He said that despite the mistakes, the experience gained by IOTA’s executive team throughout the years has turned out to be positive in the end.
“The IOTA project in 2021 is a completely new project compared to 2017 because as you can probably understand when you start from nothing, which IOTA really did, and you build up something, you make many mistakes along the way.”
IOTA is not your typical blockchain. In fact, it’s not even a blockchain. Its data structure technology based on a directed acyclic graph (DAG), or “The Tangle” promises, in theory, to be effectively superior compared to a standard blockchain.
Graphical representation of the Tangle. Image: IOTASchiener defined IOTA as “a new distributed ledger that doesn’t …
Story continues on Crypto Potato

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