Dominik Schiener from IOTA specifies four elements of the “wheel of possibilities” of his team

Vladislav Sopov

Liquidity, building blocks, financing … what else? The co-founder of the IOTA Foundation shared interesting infographics to cover his company’s priorities


  • IOTA’s “Wheel of Opportunities”
  • The new Firefly is subjected to a stress test

Domink Schiener, co-founder of the IOTA Foundation, a non-profit organization behind the advancement of IOTA’s distributed ledger technologies, shared the building blocks of the “opportunities” his team has met.

IOTA’s “Wheel of Opportunities”

Mr. Schiener visited Twitter to reveal four key aspects of IOTA’s capabilities on the way to new milestones. ‘Liquidity’, ‘Community and Awareness’, ‘Building Blocks’ and ‘Funding’ comprise the four elements of IOTA’s wheel of opportunity.

Our responsibility at the #IOTA Foundation is to empower our ecosystem to see opportunities. We offer you #BUIDL.

I would also call this the “Wheel of Opportunities” as all 4 of these requirements must be met for our ecosystem to be successful.

– Dominik Schiener (@DomSchiener) July 4, 2021

Mr. Schiener decided to publish this scheme as a “wheel” as all elements are inevitable for the implementation of new IOTA solutions.

He also emphasized the role of the community around IOTA’s tools for the advancement of the entire ecosystem. Creating the reliable framework for technical progress is the “responsibility” of the IOTA Foundation, while its enthusiasts should come and “build”.

Schiener from the IOTA Foundation also added that he will present further explanations on the “plan” for implementing these priorities in an “ask-me-anything” session on July 6, 2021.

The new Firefly is subjected to a stress test

In the meantime, IOTA developers have shared the latest updates on IOTA’s core open source software. According to her tweet, the Firefly wallet will be released with an updated UX and bug fixes.

#Firefly has now entered the test phase with a closed test group to find and fix all outstanding bugs and UX friction points. In the meantime the Firefly backend has been checked, as has the IOTA Ledger App itself. We will keep you informed of the progress.

– IOTA (@iota) July 4, 2021

New software releases are currently being subjected to a closed test with a special group of experts. In addition, both wallet and ledger apps for IOTA transactions have passed security audits.

As previously reported by U.Today, IOTA’s Firefly was released in late May 2021 as part of Chrysalis, the most profound upgrade for the IOTA system in months.

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