IOTA (MIOTA) Unveils Web3 Innovation, Price Stays Positive

The IOTA Foundation has launched a login solution for Web2 and Web3 called "Login With IOTA," in collaboration with walt.id.

The "Login With IOTA" solution enables Web2 and Web3 apps to employ a self-sovereign identity to onboard users, attempting to address privacy concerns in traditional identity and access management (IAM) systems.

Login with #IOTA is here! IOTA and @walt_id deliver SSI-based login solution for Web2 and #Web3 apps. Find out how our login solution makes ID and access management easier and safer for all 🔐
🔗 https://t.co/k2ZoCZQpkk pic.twitter.com/xYg0tnFMA8

— IOTA (@iota) March 8, 2023

Login with IOTA is based on IOTA Identity, a framework for decentralized or self-sovereign identities (SSI). With more than 50,000 websites and more than one billion accounts using it, OpenID Connect is one of the established standards that is compatible with Login With IOTA.

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Identity and Access Management (IAM) remains a crucial topic on the internet, allowing users to be onboarded in systems like e-commerce, social networking and e-governance. IAM has typically had to balance security, centralization and privacy considerations, frequently favoring centralization at the expense of privacy and, to some extent, security.

With the rise of "Web3," new IAM patterns that put the user in control have emerged, but they largely fall short of prior solutions in terms of capabilities, such as user-friendliness.

IOTA price rebounds

After seven days of trading in losses since the start of March, IOTA's price rebounded from March 8 lows of $0.196 to reach highs of $0.208 at press time.

At the time of writing, MIOTA was up 2.07% in the last 24 hours at $1.87. On the daily chart, the moving averages are deemed to make a crossing in a day or two, so traders should pay attention to this.