The post David Sonstebo: The Visionary Behind IOTA and IoT Revolution appeared on BitcoinEthereumNews.com.

David Sonstebo co-founded IOTA to enable scalable and feeless transactions for IoT ecosystems using Tangle technology. Despite setbacks, David Sonstebo remains a driving force in blockchain innovation and continues advocating for IoT advancements. The story of David Sonstebo begins in Norway, where his enthusiasm for innovation and technology inspired him to venture into new territory in the blockchain industry. David, a co-founder of IOTA, dreamed of a time when the Internet of Things (IoT) may operate without constraints of traditional technology. David Sonstebo Vision for a Feeless IoT Future  Sonstebo co-founded IOTA in 2015 in order to get above the restrictions of traditional blockchain systems. Unlike traditional blockchains depending on miners and charging fees for transactions, IOTA presented a novel idea called the “Tangle.” Fee-free microtransactions made possible by this Direct Acyclic Graph (DAG)-based architecture are essential for IoT systems in which devices routinely exchange minute amounts of data or value. From the beginning, David had a clear vision: he wanted to build a system capable of supporting an always expanding network of devices. Particularly in sectors including smart cities, healthcare, and autonomous cars, this vision positioned IOTA as leading innovator. The leadership and tenacity of Sonstebo immediately attracted technologists and companies eager to investigate IoT possibilities. Sonstebo’s Turning Point with IOTA Foundation  IOTA had a significant security hack that threw the project off in 2020. Millions of MIOTA tokens were stolen when hackers used a flaw in the IOTA Trinity Wallet. David stood out in a display of accountability and dedication to pay almost $1.97 million in tokens from his personal holdings back to impacted users. But this moment signaled a sea change in Sonstebo’s relationship with the IOTA Foundation. He declared at the end of the year that he had left the company. He clarified that the choice…

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Filed under: News - @ January 25, 2025 11:16 pm