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IOTA's Role in the Development of EBSI

Anna Martynova

The IOTA Foundation, a non-profit organization dedicated to DLT, has shared its role in helping to further develop the European Blockchain Services Infrastructure (EBSI). IOTA shared this information in a two-page white paper on October 4th.

In the document, the foundation detailed that IOTA Tangle solves three fundamental blockchain problems. These are high fees, low throughput, and centralization. The organization also noted that IOTA Tangle operates as an open source protocol that links the human economy to the machine economy, enabling new interactions such as secure data transfers and feeless micropayments.

Pursuant to the EBSI Pre-Commercial Procurement (PCP) contract, the non-profit organization will implement certain IOTA Tangle features into the EBSI platform. These characteristics include scalability, decentralization, and open source software. According to IOTA, these features will allow organizations to develop services and run applications on the public network without miners and stakers.

Image: eCrypto

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