IOTA (MIOTA) gains 10% amidst expectation of digital assets framework

Written by: Ali Raza
February 17, 2021
  • IOTA’s Chrysalis update billed to take place before the launch of the digital assets framework.
  • IOTA’s token (MIOTA) has grown by 10% less than 24 hours after the IOTA announced bout the launch.
  • The news framework will be compatible with all programming languages supported by IOTA.

IOTA has announced that its long-awaited IOTA-based digital assets framework will be launched very soon.

Dominik Schiener, the company’s co-founder, announced via Twitter. He stated that the firm has already opened a portal for community voting to determine different variants for the framework’s title.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

He added that IOTA is planning to make sure users will have the ability to roll out their coins on the IOTA platform.

IOTA rises by 10%

The price of IOTA has been impacted following the news, as it went 10 percent up within 24 hours after the Twitter announcement. More people are now queuing up to buy IOTA tokens in anticipation of a further rise of the cryptocurrency.

Schiener also added to his Twitter message that users will have the full support to launch their own “colored coins” on the Tangle blockchain, which is based on the IOTA platform.

He also stated that it will open the doors for timely, faster, and more efficient transactions on the platform.

Based on the percentage of votes by the users, the “IOTA Digital Assets” option is higher than other options. If it remains that way, it means the new framework will bear that name.

Compatibility of programming languages

Schiener also answered a question regarding the type of programming language that will be compatible with the new framework. He said that all programming languages will work fine as long as they are supported by IOTA.

That means users have a lot of options to choose from since IOTA supports a comprehensive list of programming languages.

Launch of Chrysalis to come first

IOTA has also stated that the launch of the digital assets framework will not come until Chrysalis (IOTA 1.5) has been launched. The company added that the Chrysalis launch is necessary to pave the way for a faster transaction speed, which is also a good thing for the proposed “colored coins.”  At press time, the 23rd largest digital currency is trading at $1.25 per token.