IOTA has been chosen to take part within the subsequent part of improvement and testing of an answer to offer improved pan-European blockchain companies based mostly on a distributed ledger, reviews the crypto start-up’s official weblog.

The challenge, known as European Blockchain Pre-Industrial Procurement (PCP), goals to see whether or not blockchain expertise could be developed and used to enhance present and create new use instances for the European Blockchain Companies Infrastructure, which in flip will allow the change of verified info between all entities of the European Financial Space.

IOTA is claimed to have efficiently demonstrated the capabilities of its Tangle-based distributed ledger system within the first part, piloting recycling and mental property tasks. In constructive information, the native IOTA token, MIOTA, confirmed an increase of greater than 8% at one level. MIOTA is presently buying and selling at $0.243.

Subsequent part for IOTA

The second part, nevertheless, includes testing IOTA Stardust, an improve that turns the bottom layer right into a multi-asset ledger, permitting interplay with sensible contracts of Layer 2 networks. It’s the discipline testing of IOTA’s skill to tokenize belongings and work with sensible contracts that’s of curiosity to the European Fee at this stage.

IOTA Basis co-founder and chairman Dominik Schiener, for his half, expressed confidence within the challenge’s skill to deliver the expertise to the European market and willingness to proceed additional.