The IOTA Foundation’s second-quarter report for 2024 shines a spotlight on the debut of the IOTA 2.0 Testnet, featuring Proof of Stake (PoS) consensus and Mana, marking a leap towards a more sustainable and efficient network.
The IOTAGrants program has generously distributed $2.74 million across 25 initiatives, bolstering the DeFi landscape and propelling forward international commerce and regulatory partnerships.
As per the Q2 2024 Progress Report, dated July 2, 2024, the IOTA Foundation has made considerable progress in enhancing business-to-business integration. The past quarter’s achievements include the rollout of the IOTA EVM chain, further decentralization through the IOTA 2.0 Testnet, and the improvement of developer tools and digital identity offerings.
A pivotal development was the IOTA Foundation’s allocation of $2.9 million for DeFi and NFT ventures, as reported by CNF. This milestone was also celebrated in a tweet from IOTA’s official account, which declared Q2 2024 as a bustling period for the organization.
“An exhilarating quarter for #IOTA! We’ve made significant strides in our quest to decentralize and innovate. Here’s a thread of our progress highlights ⤵️, or delve into the full blog post: [Link to blog post]
[Image of tweet]
— IOTA (@iota) July 2, 2024”
To summarize, here are some key highlights of the advancements, with more details available in the complete blog post:
– **IOTA 2.0 Testnet Launches**: Noteworthy launches include PoS consensus and Mana, targeting the creation of a network that’s both eco-friendly and more efficient.
– **Ecosystem Growth & Grants**: The IOTAGrants initiative has pledged $2.74 million to 25 projects, nurturing innovation within a robust DeFi ecosystem, supporting over 30 dApps, and collaborating with key infrastructure partners.
– **B2B and Corporate Environments**: The New Technology Adoption team is dedicated to ensuring a positive reception of IOTA technology among partners, leading to sustainable implementations. In collaboration with the European Commission, they are advancing blockchain technology within Europe.
– **Global Trade & Supply Chains**: The Trade and Logistics Information Pipeline continues to refine cross-border operations, with ongoing EU-UK poultry shipment pilots and improved cooperation with the Kenya Revenue Authority to enhance border agency interactions.
– **Legal & Regulatory Affairs**: IOTA’s Web3 Identification solution has been chosen for the European Blockchain Sandbox, and the team has engaged in the European Commission’s workshop on asset tokenization.
With these significant achievements and internal structural enhancements, the IOTA Foundation is transitioning its focus from foundational research and development to fortifying the technology’s state and broadening its application.
Contrasting with the market’s response to the launch of the IOTA EVM Mainnet, when IOTA experienced a positive surge and traded at $0.2314, the latest figures from CoinMarketCap reveal a different scenario. As of this writing, IOTA is trading at $0.1686, reflecting a 0.58% decline over the past day and a 5.40% drop over the past week.
For further information, consider exploring:
– IOTA Purchase Guide
– IOTA Wallet Tutorial
– 24-hour MIOTA Price Check
– Latest IOTA News
– Understanding IOTA
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