IOTA plans to bring billions of real-world assets on-chain through tokenization. IOTA uses Directed Acyclic Graph (DAG) technology to enable faster, fee-free transactions and support the transition to a robust Web3 ecosystem.
In a recent interview, Dominique Schiener said that the IOTA Foundation plans to bring billions of assets on-chain through RWA tokenization, as reported by CNF last June.In an interview with Professor Jo on a popular Korean YouTube channel, IOTA co-founder Dominique Schiener shared the fascinating trajectory of IOTA, a blockchain project that began as a startup company he launched in high school in 2015 and has grown into a groundbreaking initiative valued at over 1 trillion Korean won.
The conversation delved into IOTA’s beginnings, its transition to Web3, and its ambitious plans for tokenizing real-world assets (RWA). Dominik Schiener shared his excitement about a productive discussion he had with Professor Jo on his X account, during which they delved into IOTA’s journey, its unique differentiators, and its efforts towards real-world adoption.
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I had a great conversation with Professor Joe. #IOTAour history, and how our focus on real-world implementations sets us apart.
Thanks to Professor Joe for agreeing to the interview and for letting us explain IOTA to the Korean community 🙌https://t.co/YKPwncXCPB
— Dominik Schiener (@DomSchiener) July 22, 2024
IOTA’s vision and technical approach
Schiener explained that IOTA aims to ensure the adoption of blockchain in real-world applications by using a directed acyclic graph (DAG) structure to enable faster, more efficient and fee-free transactions.
Our vision has always been for blockchain to be adopted in the real world, to impact our lives and truly fulfill its purpose as a technology used in our everyday lives.
To adapt to the evolving blockchain environment, IOTA has launched an Ethereum Virtual Machine (EVM) compatible Layer 2 chain to facilitate decentralized applications (dApps) and build a robust Web3 ecosystem.
Instead of a blockchain, which is a sequential chain of blocks, they introduced a directed acyclic graph (DAG), which allows for parallel processing of transactions, no transaction fees, and faster, more energy-efficient operation.
Prospects and Real-World Asset Tokenization
IOTA 2.0 features a decentralized and permissionless consensus mechanism, allowing anyone to become a network validator. Additionally, IOTA is focused on tokenizing real-world assets (RWAs) such as Treasury securities, ETFs, and trade finance assets, and is working with platforms such as Tokeny and regulators to increase liquidity in the decentralized finance (DeFi) ecosystem.
The recent release of the IOTA EVM has created new opportunities for token releases and community engagement in DeFi applications. Currently, IOTA is trading at $0.1733, down 3.69% in the past day and up 0.86% in the past week. See the IOTA price chart below.
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