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IOTA Founder Bemoans Exchange Listing of BEP-20 Version Instead of Main Token

IOTA Founder Bemoans Exchange Listing of BEP-20 Version Instead of Main Token


Founder of IOTA Foundation, Dominik Schiener has come out to express his frustration and dissatisfaction in a recent tweet over the listing of a BEP-20 version of the IOTA tokens by Hotbit crypto exchange.

In his comments, he also called on the exchange to take the right step by integrating the real IOTA token into its blockchain network.

“Wanna know what’s frustrating?

Seeing shitcoin wrapped assets on a foreign chain be listed, instead of the actual token of your project. There is no oversight and no guarantee that these wrapped tokens are even fully backed.

@Hotbit_news please list #IOTA.,” he tweeted.

Scheiner’s dissatisfaction has to do with Hotbit listing an IOTA-wrapped BEP-20 token built on the Binance Smart Chain network rather than the real IOTA token.

Hotbit exchange did not connect the IOTA token on its network, rather it integrated it with the BEP-20 Binance Smart Chain (BSC). Hotbit listed the BEP-20 BSC version of its token instead of integrating a wallet infrastructure that supports the storage, deposit, and withdrawal of the IOTA token.

Schiener’s frustration and annoyance with Hotbit’s approach could be channeled to the fact that using a separate network to support the IOTA token is promoting a separate network instead of its own.

Meanwhile, in the early hours of today, Hotbit announced a listing of the IOTA wrapped BEP-20 token. The exchange confirmed that it will start trading at 9:00 a.m. UTC today.

EU Picks IOTA as One of Seven Platforms to Support EBSI

With IOTA being one of the most trusted, efficient, scalable, and secure platforms, just a few months ago, the European Union called on its service, along with six others, to support the development of its European Blockchain Service Infrastructure (EBSI), a network of blockchain nodes that facilitates cross-border public services across Europe.

IOTA’s services were employed to help improve the efficiency and reliability of EBSI data.

EBSI views IOTA as the perfect technology to build upon its huge infrastructure and the blockchain supposedly has the needed features to achieve its goals of being scalable, interoperable, and sustainable.





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