IOTA Unveils Web3 Innovation Price Stays Positive: The IOTA Foundation has launched a login solution for Web2 and Web3 called “Login With IOTA,” in collaboration with Walt. id.
IOTA Unveils Web3 Innovation Price Stays Positive
IOTA Unveils Web3 Innovation Price Stays Positive: The “Login With IOTA” solution enables Web2 and Web3 apps to employ a self-sovereign identity to onboard users, attempting to address privacy concerns in traditional identity and access management (IAM) systems.
Login with IOTA is based on IOTA Identity, a framework for decentralized or self-sovereign identities (SSI). With more than 50,000 websites and more than one billion accounts using it, OpenID Connect is one of the established standards that is compatible with Login With IOTA. Identity and Access Management (IAM) remains a crucial topic on the internet, allowing users to be onboarded in systems like e-commerce, social networking, and e-governance.
IAM has typically had to balance security, centralization, and privacy considerations, frequently favoring centralization at the expense of privacy and, to some extent, security. With the rise of “Web3,” new IAM patterns that put the user in control have emerged, but they largely fall short of prior solutions in terms of capabilities, such as user-friendliness.
IOTA price rebounds
IOTA Unveils Web3 Innovation Price Stays Positive: After seven days of trading in losses since the start of March, IOTA’s price rebounded from March 8 lows of $0.196 to reach highs of $0.208 at press time. At the time of writing, MIOTA was up 2.07% in the last 24 hours at $1.87. On the daily chart, the moving averages are deemed to make a crossing in a day or two, so traders should pay attention to this.
IOTA Unveils Web3 Innovation Price Stays Positive: IOTA is a distributed ledger technology, a DLT. With the right approach, DLTs let us control our own private data, run programs that nobody can meddle with, and trade and own assets without intermediaries.
As in the name, a distributed ledger technology maintains a ledger a tally of token ownership between multiple nodes. That would be trivial if all nodes were controlled by the same entity, but in DLTs the ledger state has to be agreed on by a collective of independent nodes. There is always a chance that a malicious node joins the network, so any DLT needs a way to protect itself. The way that IOTA takes makes it different from other protocols.
IOTA runs on the Tangle, a structure where newer transactions verify the older ones, and pretty much any other DLT runs on a blockchain instead. To secure its state and history, a blockchain must collect transactions in blocks and chain the blocks one after another. That leads to a natural bottleneck: imagine loading the world’s cargo into a single train wagon by wagon. IOTA bypasses it altogether.
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