Before we jump into the details of the partnership, let’s go over IOTA. For starters, it’s a revolutionary distributed ledger that utilizes an in-house invention known as “triangles”. Which is pretty much a new data structure that utilizes a Directed Acyclic Graph. What makes the platform unique is that it doesn’t have blocks, chains, or miners.
So how are transactions verified on the chainless, blockless, IOTA? In order for a network participant to make a transaction, two previous ones must be approved by him.
The platform is fully scalable, decentralized, has no transaction fees, and has quantum immunity, provides secure data transfers, and real-time micropayment support.
What does the partnership between LATTICE80 and IOTA mean for the ecosystem?
The decentralized ledger startup will have access to LATTICE’s full innovator and startup ecosystem, which will allow IOTA to get a massive development push. Joint venture projects are expected to come about from the partnership as well.
“While we have been vocal in our interest in cryptocurrencies, we feel it’s time to commit to more serious future involvement in the broader blockchain and IoT ecosystem. IOTA is a global leader, advocate, and evangelist of these new technologies.”
Joe Seunghyun Cho, Founder & CEO – LATTICE80
Essentially, the two companies will work on allowing stakeholders, governments, financial institutions, startups, and public sectors to be able to connect to decentralized ledger technology easier.
Seems like a great partnership for the crypto space.
The tech expertise and financial power of LATTICE80, coupled with IOTAS innovative “Tangle” technology will surely lead to some truly fantastic crypto market developments.
Also, keep in mind that Lattice is the world’s largest FinTech hub, so progress is inevitable. Expect things to ramp up once the two companies move into a new office together.
Expect IOTA prices to rise once news goes viral.