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

The mission, known as European Blockchain Pre-Business Procurement (PCP), goals to see whether or not blockchain know-how could be developed and used to enhance present and create new use circumstances for the European Blockchain Companies Infrastructure, which in flip will allow the alternate of verified data 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 optimistic information, the native IOTA token, MIOTA, confirmed an increase of greater than 8% at one level. MIOTA is at the moment buying and selling at $0.243.

Subsequent part for IOTA

The second part, nevertheless, entails 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 area testing of IOTA’s skill to tokenize property 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 mission’s skill to carry the know-how to the European market and willingness to proceed additional.