- IOTA has announced that its begun beta testing its new privacy-preserving system as the year closes.
- IOTA shows itself to be one of the most promising distributed ledgers for 2023 and beyond.
In a recent Twitter announcement from Holger Köther, the co-founder of SPYCE.5, a platform that manages infrastructure and B2B services for IOTA and Shimmernet, Köther revealed that beta testing for its latest Shimmer infrastructural setup has been completed.
This is a bullish step forward for IOTA, especially considering that the cryptocurrency and blockchain industry has been underwater for most of 2022. The conclusion of the testing at such speed comes as a great surprise for the IOTA community, and it also highlights the possibility of new things ahead of the new year, for the platform.
We’re happy to share that we launched our first internal tests with a closed group of beta testers today. Incredible work by the team and hopefully a nice holiday surprise for everyone in the #IOTA community.
With SPYCE we aim to provide the best experience for builders and 👇 https://t.co/JHonYOnsge pic.twitter.com/sz1rS2oy2T
— Holger Köther ✨ (@HolgerKoether) December 22, 2022
Using the SPYCE technology, the team was able to facilitate testing. SPYCE will also come in handy for builders and developers within the IOTA community. Köther explains that decentralized applications can be developed using SPYCE.
In a follow-up tweet, he expands on the usefulness of SPYCE, saying ;
“With SPYCE we aim to provide the best experience for builders and developers to get started quickly, so that they can focus on what they do best: developing awesome dApps and implementing professional use-cases on the most scalable network. Today is the first step, which also helps us to test our behind-the-scenes tools. A big TY to all testers.”
IOTA is moving towards launching a privacy-preserving login system
Meanwhile, IOTA also revealed on the 27th of July, that it was working on a very promising system. Dubbed “login with IOTA”, the privacy-preserving login system is centered around accessibility for Web2 and web3 applications to onboard users onto different platforms.
Excerpts from the blogpost posted on the official IOTA website explain the technology more in-depth:
“The IOTA Foundation is developing a privacy-preserving login system based on self-sovereign identity (SSI) called Login With IOTA, which allows traditional (Web2) and decentralized (Web3) apps to easily onboard users. In this system, users remain in full control of their data and will be able to securely share information at their discretion.”
The Login with IOTA project has been gaining traction since March. In the same month, IOTA launched what it called a “request for proposals” movement to aid it in securing new partners, to hasten the project’s development.
Proposal submissions led to IOTA selecting a proposal from Walt.id. Walt.id provides NFTs, identity, and wallet infrastructure for existing enterprises and developers that supports management for cloud services.
A demo of the web2 and web3 flow was also revealed in a video posted to Walt id’s YouTube. The login with IOTA demo showed a variety of ecosystems post login, with the rest of the onboard process giving users the option to choose their preferred ecosystem.
No spam, no lies, only insights. You can unsubscribe at any time.
The solution later brought about the “privacy-preserving login systems that can be easily integrated with any application and follows well-defined standards to reach maximum interoperability.”
The project’s goal will come to fruition in the near future. The success of this new system could aid IOTA’s overall growth and adoption as a leading distributed ledger in the fintech and cryptocurrency industry at large.
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.