Based on the results of the phase 2A development over the next six months, a minimum of three out of five contractors will be chosen to advance to the next stage, where the European Commission will field-test the capabilities of the newly developed infrastructure and applications. Last September, Iota was one of seven enterprises chosen to support the early-stage innovation of the said European blockchain venture. With its signature decentralized acrylic graphs, the Iota blockchain is known for very little energy consumption and no gas fees. Previously, Assembly, a decentralized layer one smart contract network built within the Iota ecosystem, announced a $100 million capital raise from private investors while receiving praise from Dominik Schiener, Iota Foundation’s co-founder and chairman.
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Source: Cryptocurrency - investing.com
