The IOTA team announced earlier today that it is one of the five contractors selected for phase 2A of the European Blockchain Pre-Commercial Procurement to develop future capacities for the European Blockchain Services Infrastructure.
The European Commission is looking for novel blockchain solutions for the European Blockchain Services Infrastructure. Seven contractors completed the first solution design phase and the commission awarded the second phase to five contractors. The European Commision said the phase 2A prototype development and lab testing is now ongoing.
IOTA is a permissionless distributed ledger "for a new economy". IOTA was conceptualized in 2015 and officially released in June 2017.
MIOTA, the native coin of the IOTA network, is trading at $1.28 at press time, up by more than 15% in the last 24 hours.