The European Blockchain Forum Admittedly IOTA As One Of Germany's Leading Blockchains

JAKARTA IOTA, a platform focused on transaction handling for Internet of Things (IoT) devices, was recently recognized by the European Blockchain Forum as one of Germany's leading blockchains. IOTA (MIOTA) has its own advantages and characteristics because it focuses on IoT.

IOTA uses the DAG (directed acyclic graph) feature to store large-book transactions, hence IOTA is slightly different from blockchain applications in general. The German-based blockchain entity received a proper recognition, as the European Union Blockchain Forum recently called it one of Germany's leading blockchain companies.

The IOTA Foundation itself announced this achievement in a recent tweet. "We are pleased to see that the IOTA Foundation has been named one of Germany's top 10 #blockchain companies by EUBlockchain," wrote the Twitter account IOTA (@iota) accompanied by a link to the European Union Blockchain Forum report, October 25, 2022.

According to a report by The Crypto Basic, the EU Blockchain Observatory and Forum is the eighth party of an entity that has provided updates on the condition of the blockchain ecosystem in the European Union.

The report addresses issues facing blockchain and industrial growth in every country within the European Union block, including Germany. As part of its report on Germany, the European Union Blockchain Forum highlighted ten leading blockchain entities in Germany that made significant signs in the industry.

IOTA is mentioned among nine other German companies. The European Union Blockchain Forum recognizes that more than 343 blockchain entities are located in Central European countries, including Germany. Among the ten blockchains highlighted, including IOTA, as the most prominent blockchain platform.

Nine other well-known blockchain companies based in Germany include BitsCrunch, seaq, BigchainDB, Nuri, Energy Web Foundation, Finoa, Chainflip, Aragon, and Unstoppable Finance.

In addition to showing these important companies, the report highlights the growing condition of the blockchain space in Germany. Per data from the report, blockchain companies in Germany cover about 150,000 observers, accounting for 0.2 percent of the country's population.

Founded in 2017, the IOTA Foundation is a non-profit entity developing the IOTA protocol, which seeks to provide high-level communication and payment services among machines on the Internet of Things.

Much because of its unique operating mode and important growth movements, blockchain companies have grown to become leading entities in the global blockchain scene. Last year, the European Blockchain Services Infrastructure (EBSI) selected IOTA as one of seven entities to facilitate European blockchain businesses in the early stages.

In addition, in August last year, The Crypto Basic reported a decision by the German Federal Ministry of Economics and Energy to select the Tangle IOTA network as the main technology behind its SUCEE project.