IOTA Forges Strategic Partnership with Trademark Africa, Advances IOTA 2.0 Release

IOTA has strengthened its collaboration with Trademark Africa to build a robust digital infrastructure for trade. Key stakeholders recently gathered in Geneva to discuss the advancement of this infrastructure. Meanwhile, IOTA 2.0's impending release signifies significant progress in enhancing the network's capabilities for tokenized assets and establishing a reliable governance framework for TLIP, a technology revolutionizing global trade with its secure and transparent data exchange.

IOTA Forges Strategic Partnership with Trademark Africa to Bolster Global Trade Infrastructure and Announces Progress Towards Imminent Release of IOTA 2.0

Geneva, Switzerland - April 22, 2024

In a significant move, the IOTA Foundation has forged a strategic partnership with Trademark Africa to establish a robust digital infrastructure for global trade. This partnership represents a major step forward in IOTA's mission to revolutionize global commerce through its innovative distributed ledger technology (DLT).

Strengthening Ties with Trademark Africa for Digital Trade Infrastructure

Last week, key stakeholders convened in Geneva to discuss the advancement of a digital infrastructure for global trade. This meeting marked a significant milestone in the collaboration between IOTA and Trademark Africa, an organization dedicated to promoting trade and economic development in East Africa.

The partnership between IOTA and Trademark Africa aims to address the challenges of cross-border trade, which often suffers from inefficiencies, bureaucratic hurdles, and a lack of transparency. By leveraging the capabilities of IOTA's Tangle-based Layer-1 protocol, the collaborators will develop a secure and transparent data exchange platform that facilitates the seamless movement of goods and services.

TLIP: A Gateway to Streamlined and Secure Global Trade

Central to the partnership is the implementation of IOTA's Trade Logistics Information Pipeline (TLIP), a revolutionary DLT-based solution designed to streamline information exchange and promote collaboration across borders. TLIP functions like a digital seal on trade certificates, ensuring the authenticity of documents and eliminating the need for physical stamps.

By utilizing IOTA's DLT, TLIP ensures the security and immutability of data, providing a trusted and verifiable foundation for global trade. This technology has the potential to revolutionize the way businesses conduct cross-border transactions, reducing delays, errors, and fraudulent activities.

Progress Towards IOTA 2.0 Launch

In parallel with its strategic partnership with Trademark Africa, IOTA is making significant progress towards the imminent release of IOTA 2.0, a major upgrade to its blockchain network that promises to enhance performance, efficiency, and scalability. This upgrade will solidify IOTA's position as the prime choice for tokenized assets in the real world.

According to the development progress tracker on Github, the v1.0.0-beta version of IOTA 2.0 has reached 97% completion. The IOTA team is working diligently to complete the implementation by the end of the year.

The IOTA 2.0 upgrade introduces several key features that will enhance the platform's capabilities:

• Improved performance and scalability: IOTA 2.0 will significantly increase the network's transaction processing speed and capacity, enabling it to handle larger volumes of data and support a wider range of applications.
• Enhanced security: IOTA 2.0 incorporates advanced cryptographic algorithms and consensus mechanisms to strengthen the security of the network, ensuring the integrity and privacy of data.
• IoT compatibility: IOTA 2.0 is specifically designed to facilitate the secure and efficient transfer of data between IoT devices, paving the way for innovative applications in various industries.

Recent Updates to IOTA 1.0

In the lead-up to the IOTA 2.0 launch, IOTA has released a series of updates to its current protocol, version 1.0. These updates have focused on enhancing functionality, performance, and user experience:

• Update to Congestion Client Library: An update to the congestion client library has been implemented, improving the network's ability to manage congestion and maintain optimal performance.
• Resolution of Mempool Reset Logic Issue: A critical issue with the reset logic of the mempool, a component responsible for managing transactions, has been resolved, ensuring the stability and efficiency of the network.
• Integration of Pruned Event in Storage Component: The integration of a "pruned event" into the storage component optimizes storage efficiency by streamlining the process of removing old or unnecessary data from the network.

These updates demonstrate IOTA's commitment to continuous innovation and improvement, ensuring that its technology remains at the forefront of DLT development and meets the evolving needs of its users.

Conclusion

IOTA's strategic partnership with Trademark Africa and the upcoming release of IOTA 2.0 represent significant milestones in the evolution of global trade and blockchain technology. By leveraging IOTA's innovative DLT solutions, the collaborators aim to create a more efficient, transparent, and secure global trade ecosystem. As IOTA 2.0 nears completion, it is poised to revolutionize the tokenized asset landscape and open up new possibilities for businesses and consumers alike.