IOTA still wants to build a better blockchain, and get it right this time
In 2014, IOTA set out to offer an alternative to the key issues with blockchain: Scalability and transaction fees. Somewhere along the way, things went wrong. Not everything is lost, however, and IOTA is looking to regain momentum.
One of the worst things that can happen to a cryptocurrency is a wallet hack. That, and a few more mishaps, is what happened to IOTA since 2017. As a result, IOTA lost momentum and market cap: from 4th overall, with a market cap of $13,2 billion in 2017, to 25th, with a market cap of $4 billion today.
Today IOTA is rolling out the beta version of its new wallet. But that really is just the tip of the iceberg in a massive new technology rollout that will get things right this time, IOTA Foundation Co-founder and CEO Dominik Schiener told ZDNet.