We are currently in the process of restructuring the IOTA ecosystem fund. We will do it from a Swiss entity (more broader mandate and funding opportunities for startups), much simpler process and we will go beyond just IOTA (Smart Contracts, dApps etc). What should we name it?
The list of choices given are HODL and BUIDL Fund, Open Infrastructure Fund, Automation Grants, Open Ecosystem Fund.
This DLT is truly built differently. No blocks, no chain, no leader, no fees, 1000 TPS without sharding and < 10 sec confirmation time, just to name a few. IOTA just like everyone are working their own way in making the world a better place to live in.
600 million IOTA transactions consume the same power as one Bitcoin transaction, and you pay no fees. The community are excited about this as there has been a widespread discussion in the entire cryptocurrency space about a crypto that makes use of less than 1% of Bitcoin’s energy transaction.
The new code inside X-CUBE-IOTA1 2.0 Matters? IOTA 1.5 Chrysalis is more efficient because of its new payload. Each transaction now demands only 275 bytes compared to about 3,500 bytes previously. This has been made possible due to fewer redundancies and the absence of complex transaction bundles favoring atomic transactions. The new version has transited from the trinary to a binary representation contributing to the size reduction. The immediate result is that validating transactions no longer takes minutes but mere seconds.
To improve the network’s speed, IOTA have implemented a new Uniform random tip selection algorithm making it easy to set the process in place for prioritizing, selecting, and confirming unvalidated transactions simple and efficient. While all of this demands less time and energy this leads to an overall improvement in efficiency.
The expansion package consists of middleware libraries, Wi-Fi management, IOTA Client APIs, and more.
Additionally, ST will be continuing to work on their expansion package to help engineers more easily write cellular applications. They also facilitate cryptographic libraries, one from ST and one called Sodium. There are also protections against side-channel attacks to protect systems against physical hacks. Additionally, they are releasing an update which will take advantage of the STSAFE-A110 available on the B-L4S5I-IOT01 board.
Other community concerns: Serious question: Why would you want to burn the tokens? They never have been part of the market so there wouldn’t be an increase of price. On the other hand those millions of dollars could be used for projects, marketing and listings.