The value of the IOTA token on March 23 peaked in value since June 2018 at $ 1.75, according to Coingecko. Over the past three months, IOTA has risen in price by 573%. This happened against the backdrop of the upcoming update of the IOTA Chrysalis network, which will be released in April this year. Co-founder and CEO of the IOTA Foundation Dominik Shiner said this in an interview with ZDNet, writes RBC Crypto.
According to him, the developers have been working on the update for 1.5 years, and its release marks a new stage in the development of IOTA. Shiner argues that Chrysalis will move the blockchain to a new distributed ledger that works without miners, and there will be no fees for transactions.
In February 2020, IOTA was subjected to a hacker attack, as a result of which attackers managed to gain access to the Trinity Wallet and steal 8.55 million IOTA tokens (about $ 2 million at the exchange rate at that time). Against the background of the hack, the value of the token fell by more than 50% (from $ 0.33 to $ 0.12). According to Shiner, the new wallet has been rewritten from scratch, and now it does not include third-party integrations that were used by attackers.
The IOTA blockchain will be able to scale transactions free of charge in the future. For this, a special Mana token will be generated on the network by the largest IOTA holders.
The IOTA project was created in 2015 for the development of the Internet of Things (IoT). The developers managed to enter into partnership agreements with such giants as Microsoft, Samsung and Volkswagen.
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