The IOTA Foundation, a non-profit organization delivering the world’s first scalable, feeless and decentralized distributed ledger technology, to list its native IOTA Token ($MIOTA) on Bittrex Global on January 30, 2020.
We are pleased to announce the newest token listing on Bittrex Global: The IOTA token, a powerful tool for the machine economy. IOTA is the first open-source, feeless distributed ledger built to connect the human economy and the machine economy. We plan to list the $MIOTA token for trading on Bittrex Global on January 30, at 6pm UTC /7pm CET, January 31, 3am KST time.
The following information has been provided by the IOTA token team.
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IOTA is the first open-source, feeless distributed ledger built to connect the human economy and the machine economy.
Blockchain technology promised a compelling vision: decentralized networks allowing open innovation and peer-to-peer transactions without intermediaries or fees. Ultimately, they were never built to execute it in full, due to inherent technical flaws in their design. As blockchain adoption has increased over the last decade, early adopters have been hit with sluggish transaction times and skyrocketing fees. As financial rewards for validating blockchain transactions became increasingly competitive, their networks have also become increasingly centralised around a few powerful actors. But the need for decentralized and permissionless systems remains, and has only increased in recent years.
By solving the inefficiencies of the Blockchain, IOTA, based on the revolutionary distributed ledger technology, the Tangle, is the missing link for Web 3.0. Powering a secure, scalable and feeless transaction settlement layer, IOTA empowers machines and humans to participate in flourishing new permissionless economies.
It was incredibly important that creation of the IOTA Token was done in a way that was fair to early adopters and sustainable for the vision of the Foundation. Some key actions — unique to most projects — were taken to preserve the intention of a digital asset that the world can trust:
Fair Distribution: All individuals that wished to support the project were asked to donate to the crowdfund, with no questionable distribution schedules, early corporate investors or locked tokens. No new IOTA tokens can ever be created.
Reasonable Funding: Most projects raise hundreds of millions of dollars, of which a majority goes to funding advisors, marketing, and ‘pay to play’ adoption schemes. The IOTA Foundation raised roughly $500,000 dollars from their crowdfund in 2015, and all funding for the Foundation was donated by the community.
Designed For Use: The IOTA token is a true digital currency that connects two of the largest economies in the world: The Human Economy and The Machine Economy. It was not created as a funding mechanism for a blockchain startup.
The potential for a multi-trillion-dollar opportunity in DLT, IOTA’s platform, standards initiatives and scalable technology (in theory), all point to the potential long term value of IOTA’s token. — Tom Lee’s Fundstrat on Off The Chain.
For more information, please visit:
IOTA website: IOTA.org
IOTA roadmap: https://roadmap.iota.org/
Discord Community: https://discord.iota.org/
To celebrate this coin listing, Bittrex Global will host an exclusive IOTA AMA on our Bittrex Global Telegram Group. The AMA will be hosted January 30, at 11am UTC/12 pm CET/8pm KST.
Dominik Schiener and David Sønstebø, Co-founders of IOTA, will be answering a selection of questions from Bittrex Global Community. Join the Telegram group for AMA session via link: https://t.me/BittrexGlobalEnglish
Congratulations to the IOTA team and welcome to Bittrex Global!
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