IOTA: Will the fight against climate change bring about a turning point?
- Looking for new buoyancy
- Will IOTA now become the climate protector's cryptocurrency?
In addition to the development and provision of the digital currency IOTA, the foundation behind it with its pursued philosophy may also have become a kind of alternative to Bitcoin and other crypto currencies, which can only be created in the course of the environmentally harmful mining process. With the communication protocol, the foundation behind IOTA would now like to try to publish a transparent environmental balance sheet; a pilot project is already being planned.
No blockchain: Tangle
The big difference between IOTA and the Bitcoin? There is no blockchain. When IOTA is sent, two further transactions are validated at the same time so that there are no transaction costs in the first place or there are no scalability restrictions. In addition, the digital coins are not "mined". Because instead of the blockchain, Tangle is used here - the blockchain alternative.
The foundation is now working with ClimateCHECK, a technology company, on “innovative solutions” that stand for “clean technology and sustainability”. Ultimately, Bitcoin and the like are repeatedly criticized for having negative effects on the environment.
The IOTA review of 2020 has shown that the minds behind cryptocurrency need a new plan to regain some tailwind. Because even the first days in 2021 have shown that the cryptocurrency still needs an upturn. IOTA is currently at 0,45 US dollars - this may be an increase of 60 percent (in the last seven days), but the cryptocurrency is 91 percent away from its all-time high (5,25 US dollars; set in December 2017 ).