$37 Million ‘IOTA Ecosystem’ Launched for Global Development Community

The Ecosystem has been launched to create educational materials and other resources for the IOTA community.

In a blog post published on February 7, IOTA wrote of the commencement of “a platform to house the community of developers, startups, hobbyists and initiatives all over the world working towards the distributed and decentralized future we all aspire to create.” The platform is known as the ‘IOTA Ecosystem’, which the post also compared to developers.google.com, “but for open-source DLT applications built on the IOTA core protocol.”

While some token holders may shrug their shoulders at such an initiative, it’s important to note that, technology and token value are inseparable for any cryptocurrency’s long-term value trajectory. While the advent of the IOTA Ecosystem probably won’t bring any short-term spikes in the value of IOTA, the fact that the IOTA Foundation is continuing to take steps to engage with and grow a global community of developers is a positive sign that the IOTA network could be adopted for real-world use more quickly.

Among other things, educational resources, ‘matchmaking’ for organizations and startups with IOTA developers, hackathons and philanthropic initiatives are slated to be parts of the system. It will also implement a reputation system that community members will use to determine the value of individual contributions as well as the trustworthiness of other developers in the ecosystem.

It will be financed by the Ecosystem Development Fund, which was seeded with the donation of 21.7 TI (TI are large units of IOTA tokens). At the time, the TI were worth just over $200,000; now, they are valued at more than $37 million.

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