Thread by @HolgerKoether

Initially, #IOTA was designed with the IoT in mind - lightweight, highly scalable, no transaction fees, parallel transactions, no miners.

Turns out this is also a great technical basis for every other scenario as well.

Since 17/18 a lot of things have happened:

The project is one of the most ambitious in the whole DLT space. The aim is so high that some don't believe it's possible: "scam" "garbage" etc. And 18/19 was a valley of despair. There were technical misconceptions and unnecessary dirty laundry.

Also - research is not a straight road - no organization has ever researched a feeless DLT system based on a DAG.

But the team took all the learning from the past and redesigned a whole new system with the same principles in mind. The birth of the current #Chrysalis network.

Today the @iota Foundation has become one of the leading organizations for blockchain research and probably the globally leading research organization for DAG research. Numerous peer reviews and also enterprise patents mention IOTA. Also several EU grants and large orgs. But why?

#IOTA is the only project utilizing the #Bitcoin #Nakamoto Consensus on the DAG.

This means: IOTA is not only highly scalable in TPS but extremely robust in its core infrastructure design.

Similar to #bitcoin it will scale over thousands & more validator nodes. Proof?

The research on #IOTA V2 is progressing - the Devnet (v2.iota.org) is up for months. Only recently the latest Nakamoto consensus prototype was deployed and it's lightning fast. (again - no blocks, no fees).

But back to #Chrysalis:

Smart Contracts: #EVM runs on IOTA. Parallel SC settlements + asset & coin & token exchanges between SC's.

It's "trustless" by design, this means no need to build a bridge between SC's.

The Tangle is the native bridge. A SC can work with other SC tokens. Same for #NFT's:

An NFT can even own other NFT's 🤯
This enables direct interaction between all the smart contracts and tokens and assets on #IOTA.

So why should #IOTA stop at #IoT?

The answer is simple: it should not.

IOTA is able to connect thousands of token ecosystems natively together on a fully parallel working, 1000+ TPS base layer with lightning speed and without gas fees.
For a long time already, #IOTA is not only for #IoT anymore. Even better:

The tech allows a new level of connectivity and first-mover advantages - and holy... we see the community building 🙌

DEX'es, several NFT projects, dApps, DAO's, you name it. (Yes, also IoT services)

Fast, Scalable, Distributed

Also here come free tokens with Shimmer:

@shimmernet is the new incentivized testnet for early adopters. Receive free #SMR tokens soon if you stake your IOTAs (more on shimmer.network).

It has been a ride, but we're not done yet. #DLT is still in its beginning and the journey is one of a kind:

IOTA provides the base layer, the bridges, the security, the scalability.

So let's get creative 🙌
Let's #BUIDL 🙌
Let's interconnect! 🙌

#DAO's, #NFT's and #DeFi are already today a fantastic glimpse into the decentralized future, let's discover what is fully possible!