Another Venture! IOTA Launched the IOTA Lab This Week with AKITA

IOTA is a distributed ledger protocol, and it is one that is constantly exploring new ventures. Over the last little while, we have seen IOTA enter into partnerships with NGOs, and provide details on the Qubic. The company’s latest venture was launched this week. It is called the IOTA Lab, and it was developed in partnership with AKITA. 

The IOTA Lab was developed alongside AKITA, which is a blockchain-based startup. If you’ve never heard of AKITA before, it is a startup that focuses primarily on making DLT more tangible. AKITA also wants to integrate DLT into everyday life. 

AKITA confirmed the launch, tweeting the news to its followers. IOTA retweeted the message. 

“IOTA Lab” will be an open community blueprint project, funded by the Ecosystem, managed by AKITA and shaped by you!
How does the perfect Maker-/ Office-/ Tech-Space look like (Design, Hardware, Equipment, Rewards…)? #iota #ecosystem #iotalab #community https://t.co/31pPge0hE8 pic.twitter.com/BrdRmazFU0

— AKITA (@AkitaBlock) June 4, 2018

So, the IOTA Lab has launched, with the help of AKITA, but what is it? What does it do? What’s the purpose? All good questions. Details are a bit restricted, but there are some things that we know for certain. 

Based on AKITA’s tweet, the IOTA Lab will be an “open community blueprint project.” We also know that aside from the IOTA Lab, AKITA is working on IOTA’s “Tangle.” 

Mentioned briefly, AKITA is working on “Tangle” with IOTA, which means these two platforms trust each other enough to work on more than one venture with each other at a time. Further, AKITA has already created a number of IOTA based proof of concepts (POCs). Here are a few examples: 

So, the news about the IOTA Lab is out in the world. Has that had a positive effect on the price of MIOTA? The answer is no, but that might just be more because the entire crypto market is struggling at the moment. 

>>Is CNBC’s Fast Money Trying to Manipulate Bitcoin Cash Price?

IOTA (MIOTA) is currently selling for $1.68. This puts MIOTA down 4.10% in the past twenty-four hours. 

IOTA Lab

Source: CoinMarketCap

What do you think of IOTA’s new project? Yay or nay?

Featured Image: Twitter

2 comments
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