- According to co-founder Dominik Schiener, the IOTA token could gain significant market share after Chrysalis phase 2.
- Well-known exchanges such as Coinbase, Kraken and Bitstamp could list IOTA after Chrysalis is fully implemented on the mainnet.
Yesterday, on Boxing Day, IOTA co-founder Dominik Schiener answered numerous questions from the community on Discord and gave interesting insights into the further development of the project. Among other things, community members expressed the concern that the activation of Chrysalis phase 2 on the mainnet will not bring the hoped-for push, and that only Coordicide will be the “real game changer”. Schiener disagreed, stating:
That’s not how I interpret it. The way that I interpret it is that IOTA has two of the most significant upgrades every happening: Chrysalis and Coordicide. Both of them, on their own, pose significant improvements to the adoption and perception of IOTA on the market.
Chrysalis = Enterprise ready, with exchanges and enterprise finally able to adopt IOTA.
Coordicide = Full decentralization, and no more “but….” against IOTA. It’s the ultimate form of DLT then.
Other users, on the other hand, expressed disappointment that the IOTA price is far below its former all-time high of $5.69, despite the Bitcoin bull run. As a result, one user asked Schiener if he, too, is “a bit disappointed” about this and if he is confident that IOTA will “rise like a phoenix from the ashes once the puzzle pieces comes together.” Schiener replied:
Haha no, it really gets me excited because Bitcoin ATH really means that the sky becomes the limit, and that with great execution and delivery of our plans, that we can gain significant market share. In 2017 we went from $0.50 to $5 in the span of a couple of weeks.
As Schiener detailed, with Mana and other incentives that can be created with layer 2 solutions, it will no longer be just about holding IOTA tokens and hoping their utility increases. “The IOTA token itself will be the enabler of utility,” Schiener said.
Well-known exchanges could list IOTA after Chrysalis phase 2
Schiener also held out hope for a rising IOTA price and more liquidity for the IOTA token in terms of listings with well-known exchanges. According to the IOTA co-founder, “a few exchanges” have already agreed to list IOTA after Chrysalis phase 2. In addition, he and Dan Simerman are working to “convince others to include IOTA after Chrysalis.”
The basis for the new discussion with exchanges is a key technological advancement, namely Winternitz’s switch to EdDSA:
Moving to EdDSA was one of the best decisions we’ve ever made. Many exchanges run an MPC architecture (Multi Party Computation) for their custody, which doesn’t work with Winternitz. With Chrysalis, we are really pushing for institutional adoption and more accessibility and liquidity of the IOTA markets.
When asked if IOTA will also be traded on the top exchanges by reputation and volume – Coinbase, Kraken and Bitstamp, Schiener revealed:
That’s what Dan and I have been working on over the past 12 months :slight_smile:
was quite a lot of travel to New York and meeting up with the right people I would say. One thing that’s obvious about crypto is that it’s a real tightly-knit community, and if you have a toxic past of making enemies, you will not be welcomed.
So we worked hard to resolve those issues and show a new light / identity of IOTA to these people.