Collaboration With European Altcoin Announced: Here’s The Altcoin With The Deal!

IOTAhas been selected to participate in the next phase of development and testing of a solution to provide advanced Europe-wide blockchain services based on a distributed ledger.

The project, called European Blockchain Pre-Commercial Procurement (PCP), explores whether blockchain technology can be developed. This will enable the exchange of verified information between all organizations in the European Economic Area.

Altcoin is said to have successfully piloted the capabilities of the Tangle-based distributed ledger system, recycling and intellectual property projects in the first phase. In positive news, the native IOTA token MIOTA, increased more than 8% at one point. As reported, MIOTA is currently trading at $ 0.243.

The Next Stage for IOTA

The second phase involves testing IOTA Stardust, an upgrade that transforms the base layer into a multi-asset ledger and allows interaction with smart contracts of Layer 2 networks. What is of interest to the European Commission at this stage is the field test of IOTA’s ability to tokenize assets and work with smart contracts.

Dominik Schiener, co-founder and president of the IOTA Foundation, expressed his confidence in the project’s ability to bring technology to the European market and the desire for further progress.

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