Thank you @MikeThaInvestor for hosting @DanSimerman! Dan starts out with "IOTA has seen quite a transformation" "We have taken a step back and really wanted to focus, build, and deliver." "The sleeping giant is awakening!" People don't realize the scale and scope of our vision.
Anyone can copy #Bitcoin or #Ethereum and say they are unique, but #IOTA really is unique in a very literal sense. Mike comments on the Tangle, a DAG instead of a normal blockchain. Dan: in 2015 the #IOTA founders realized a new architecture was needed to break out of limits.
Popov said it was difficult to incentivize people to engage in a network without fees. #IOTA does not have the scalability bottlenecks of #blockchain. Other projects are building faster horses. #IOTA is building a rocketship. Faster, more decentralized, infinitely scalable.
Mike: How has the mainnet changed since 2015? #IOTA 1.5 is about becoming production ready. A lot was packed into the first version, but it was ahead of its time and was inhibiting adoption (quantum-resistant signatures). 1.5 removes friction points, allowing more adoption.
#IOTA 2.0 will be full decentralization. Most updates will be in 1.5, and it will be production ready after #Chrysalis.
Mike: any partnerships you can mention. Dan: Ummm, no. You can see hints. The Curv update is an example. Getting on custody platforms, making the token more accessible, expanding more in North America, interesting corporate opportunities (mana as bandwidth).
Dan: "I think you will start to see corporations buying #IOTA for industrial use cases." They will want to own a piece of this network and be part of this new industrial revolution that is happening. We can own a part of this future.
Dan: one of the biggest differentiators between #IOTA and any other protocol is that we are feeless. There will be a small energy cost, but no fee to send data. "Almost feeless" is not the same. If you have to send value with data you have blocked off millions of use cases.
#Feeless allows launching data-based applications independent of thinking about a cryptocurrency. Corporates get this. If your listeners got that distinction it would change their entire worldview of how they look at cryptocurrencies. #IOTA no fees, no miners.
#IOTA is a nonprofit governed by German law. We are very regulated. A lot of protocols do "pay to play." We cannot do that. When we have working relationships, like with @Dell and @Intel, we have not paid them. #IOTA also focuses on permissionless innovation.
#IOTA wants to be a global standard to allow permissionless innovation. We are seeing people develop on #IOTA that we have never interacted with. We are beoming an open-source technology that anyone can use and is open to anyone. We are not a company selling a service.
Mike: What are #IOTA's plans for the next 5 years? Dan: we want to become synonymous with the machine economy and the Internet of Things. We are also becoming a general #DLT and a serious alternative to the biggest players in #blockchain. #SmartContracts #Oracles #NFTs #Standard
#IOTA is open, permissionless. We see ourselves as a global, open standard that anyone can build on and build with.
Wen? Biggest roadblock was signature scheme. #Chrysalis will greatly speed adoption. #DeFi regulated custody applications will be available. We are right before the #CambrianExplosion. #SmartContracts and our 40,000 people in Discord will be behind this explosion. Big ecosystem!
Mike: how many NDAs has #IOTA signed? Dan: I have no idea, and that might not be the best metric anymore. Google "IOTA patents." Look at research papers looking at IOTA. Go to iotaarchive.com to judge our growth.
Mike: can we expect #IOTA to be in any upcoming tech expos? Dan: we get invited all the time. I'm not sure what is on the agenda, but @DomSchiener and I want to make a big push in Asia soon. If you are a fan of IOTA, please go talk about it. You don't need permission from us.
Mike: how would you explain #IOTA to someone who is new to the project? Dan: IOTA's vision was so ahead of its time that it still gets people passionate. What excites you? Mike: the Tangle, how different it is from other DLTs and the M2M applications.
Dan: Yes, #IOTA is radically different. Even if you brushed us off a few years ago I encourage you to come check us out again. It is a #NewDawn.
#BTC and #ETH have done amazing things for the #DLT ecosystem. Many projects just want to eat Ethereum's lunch and take their market share. We want to play a different game and build a bigger pie. We are building a bridge between the real world and DLT and the DeFi world.
#IOTA may look like other #cryptocurrencies on the surface, but we have very different tech, very different reason for existence. We have a clear reason for existing and are now expanding into offering more speculative, creative tools.
Dan: #IOTA has made some incredible progress behind the scenes, trying to under promise and over deliver. We have built relationships "with some really, really big players." We got delayed with needing to change the signature scheme, but now we will see those relationships resume
Mike: #IOTA is doing a phenomenal job with communication. That will help with adoption. I think it will be like Cardano-they took a long time to get their tech then price took off. Those who see the potential now will see the big reward.
Mike: people get impatient. They look for the next big run-up coin, the next big project. Dan: it is not easy to build an entirely new system. #IOTA has done years of hardcore research. 140 people in I.F. and most are R&D.
Dan: How could distill our message and make our message more understandable to the general population? Mike: putting the IoT use case out there more prominently. That is the future, and machines will be exchanging data and value, so make that easier to understand.
Dan: important to explain to new people in this space what this stuff is, and how it is evolving. Bitcoin has gone through different narratives, different phases. If you are not thinking about how your protocol is evolving, you are behind. I wrote simerman.medium.com/iota-as-digita…
#SmartContracts will be a multiplier to #IOTA's relevance right now. They will bridge corporate, enterprise use cases and crypto-centric use cases.
Dan: book recommendation: What Technology Wants. Think of DLTs like new organisms. Blockchain birthed itself into existence with incentives to use it. Each DLT is kind of its own species, with its own ethos and community and vision. What is its niche? What is its reason to exist?
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