IOTA (Cryptocurrency using DAG) News: The Foundation will be established

last year
52 in iota

First of all, before I switch to the news: What even is IOTA?! (For all people out there who know IOTA, ignore the following paragraph)

IOTA is a new Cryptocurrency (until now not available on exchanges, but soon to come) currently in Beta phase. The new thing about it is that it uses no blockchain (yes you read that right) but a tangle (Directed Acyclic Graph; DAG). Another advantage is that there is a team instead of a community making decisions and that they are fighting speculators by only giving out information about projects that are "under the hood". I will not go further here, as explaining everything would take too long and would just repeat several steemit posts. Instead, I will post a few Links to these steemit posts and the official IOTA pages:

Official IOTA website (not much information there): http://www.iotatoken.com

IOTA whitepaper (all information, you need to know maths well): http://www.iotatoken.com/IOTA_Whitepaper.pdf

Steemit Link #1: https://steemit.com/iota/@adolfo/tangle-and-iota-is-tangle-technology-the-new-blockchain

Steemit Link #2: https://steemit.com/iota/@antyivan/iota-as-a-replacement-blockchain-technology

Steemit Link #3 (IMO very useful):  https://steemit.com/iota/@help-yourself/the-official-launch-of-iota


NEWS: The IOTA Foundation will be established. Now some might ask the eligible question: What is the foundation, what do they do, and why are these news so great? Behind the IOTA Foundation are the developers of IOTA (David Sønstebø, Dominik Schiener, Serguei Popov, Sergey Ivancheglo and probably three more; see 3rd link below), who will push the project further, introduce IOTA to the public and do development. The reason behind the news of the establishment being awesome is easily explained: The requirement for the establishment of the foundation was that a minimum of 5% of all IOTA tokens would be donated to it in a certain period of time (being in the foundation is a half/fulltime-job and people don't work for free). This minimum amount has now finally been reached (after the time period for donations was expanded). The foundation will do the following (quoting David Sønstebø, see link #3 below):

"A complete IOTA Foundation roadmap and website with more detailed information will be published later in the week, but here is a brief summary:

  1. Initiate C and RUST core client development.
  2. Attend Internet-of-Things and Blockchain/Distributed ledger conferences and hackathons in the coming months in active role ( E.G. presentations about IOTA ).
  3. In collaboration with some big holders give out development-bounties.
  4. Be able to strengthen the brand and raise awareness of IOTA in all capacities.
  5. Bring on companies and organizations, especially those focused on Internet-of-Things and blockchain.
  6. Essentially realize the vision which started the R&D of IOTA
  7. Be the de facto public organization behind IOTA"

For more information use the following links (first two links refer to posts that were posted before the donation for the foundation was successfully completed):

#1: http://forum.iotatoken.com/t/iota-foundation-donation-info/354

#2: http://forum.iotatoken.com/t/iota-foundation-big-deal-and-exchange-update/469

#3 (most recent, most important): http://forum.iotatoken.com/t/foundation-announcement-and-update/492


#IOTA #crypto-currency #tangle #DAG #new #news #IOTA-Foundation

As always: If some information I give is wrong please comment so i can edit this post accordingly!


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