BitPanda integrates the IOTA Hub while adding IOTA (MIOTA) trading on the platform
BitPanda cryptocurrency exchange announced they had integrated the IOTA Hub as well as offering deposits and withdrawals functionality for the IOTA (MIOTA) token.
The latest announcement makes BitPanda, the leading cryptocurrency exchange in Europe, one of the first production companies to adopt and fully utilize the IOTA Hub. The Hub is set to lift off the burden IOTA Tangle has in completing and settling transactions as well as other advantages talked about below.
To understand the IOTA Tangle better you can follow this link.
BitPanda Partners With IOTA To Integrate The IOTA Hub
The two companies collaborating opens a mutual benefiting partnership that the co-founder and chief technical officer of BitPanda, Christian Trummer, found very optimistic to his firm’s future growth. Speaking on the partnership details, Christian noted that the advent of IOTA Hub came at a time that the two crypto firms (BitPanda and IOTA Foundation) had already started their partnership which led to BitPanda switching to the IOTA Hub. He spoke saying,
“First, we started on our own, but we soon decided that we want to switch to the official IOTA Hub from the IOTA Foundation”
Speaking on the partnership with the IOTA Foundation, Edward Greve, IOTA foundation’s Head of Engineering, spoke on their delight they shared as a Foundation in working with BitPanda. With the IOTA Hub released to BitPanda, the crypto exchange team set up the Hub fast and without much hustle leading to Edward terming the Hub, “easy to use”.
The IOTA Hub
Still at its early stages, it is hard to rate the IOTA Hub feature, but taking from Edwards’ points on the benefits of the IOTA Hub, the project provides solid solutions. First, he stated that IOTA Hub’s main agenda was to provide standardized and open source solutions that would ensure IOTA Tangle Network integration with other service providers is efficient and simple to use.
The Hub however offers more than a ‘connecting’ feature to the Tangle. IOTA Hub has the ability to manage its key indices while monitoring the transactions on the Tangle. This will ensure the Tangle is strictly off illegal activities that have become synonymous with the cryptocurrency revolution. The platform will also offer a secure seed management and optional second-factor signature to increase the security levels of the IOTA’s blockchain.