IOTA is 600 times more energy efficient than Bitcoin

• The Tangle technology utilized by IOTA makes it extremely energy efficient and therefore emerges as the best choice among European legislators.
• The IOTA Assemble network will further push the network towards decentralization enabling fully decentralized smart contracts to be built.

Although Bitcoin takes the lion’s share of the crypto industry, it has often come under fire from policymakers. This week, the European Union plans to unveil a new draft that would grade cryptocurrencies according to their energy efficiency.

The scheme will pressure crypto companies to drop crypto assets whose energy consumption is equivalent to a number of countries. Bitcoin has been at the center of attention over its Proof-of-Work consensus model, and decision makers are sure not to be happy about its energy use.

Europe emerges as the first major bloc to regulate digital assets. Moreover, it seeks to establish international crypto standards and wants other countries to follow its lead. The draft, accessed by POLITICO, notes:

The Commission will collaborate internationally with, and build on the technical expertise of, standardization bodies to develop an energy efficiency label for blockchains by 2025, as well as minimum energy efficiency requirements.

As the EU works on which major blockchains for an environmentally friendly future, IOTA fits the bill. IOTA is emerging as a reliable blockchain platform in real-world use cases, especially for supply chain and Internet of Things (IoT) industries. The IOTA network is absolutely emotionless, fast, scalable and comes with unlimited use cases. Not to forget that IOTA is 600 million times more energy efficient than Bitcoin & emits 1 billion times less CO2. Thus, it overcomes all the shortcomings of the Bitcoin blockchain.

Thanks to IOTA’s Tangle Technology

At the heart of the success of the IOTA ecosystem is the Tangle technology of the IOTA platform. It is a type of distributed ledger technology (DLT) specifically developed for the IoT environment. The purpose behind creating the IOTA Tangle was to enable microtransactions without fees. Moreover, it also comes with the promise of high scalability, no fees and almost instant transfers.

As a result, IOTA is making rapid inroads into the European markets. Last month, IOTA’s Swiss entity, the Tangle Ecosystem Association, was officially registered in Zug, Switzerland. The IOTA Tangle Network will act as an independent and non-profit organization to promote blockchain use on the European continent.

In addition, IOTA unveiled its incentivized Layer-1 innovation network aka Shimmer Network. Shimmer is a staging network for the IOTA blockchain and is launching alongside its native SMR tokens. These native SMR tokens are designed to incentivize and incentivize the participation of users on the Shimmer network.

In its next stage of development, IOTA will focus on the launch of the Assembly Multi-chain smart contracts network. The Assembly Network will bring fully decentralized and scalable smart contract capabilities to the IOTA ecosystem. The Assembly Network will address major concerns about centralization with the IOTA network.