fbpx
Opinions

IOTA Gearing up to Become The True Backbone of IoT

Recently, IOTA launched IOTA Lab, which is an Open Community Project by AKITA. Earlier before this launch, IOTA had introduced new features to their already established network such as the IOTA wallet, Trinity. IOTA has also been collaborating with several NGOs and is involved in some launches with the most recent being the IAMPASS launch, which is a collaboration of biometrics and Blockchain. Then there is the QUBIC Project.

All these point out to one thing; IOTA is moving fast to reinvent its business and its industry ahead of time. They want to be ahead of the cryptocurrency curve, to become the machine icon of the future Internet, positioning itself for massive success.

AKITA, the start-up focused on Distributed Ledger Technologies [DLTs], has been on the forefront backing up IOTA. Based in Singapore, Asia, and well connected to the European community, ÀKITA is pivotal to laying out the best foundation for IOTA.

They are currently working to create a DLT tangible and more specific just as the IOTA tangle. It should also be a seamless and tangible plan since they have already built several PoCs based on IOTA. It is currently focusing on the application of Proof of Concepts [PoC], mostly prototypes that include a hardware component and a reference to the physical world.

As a startup, AKITA has been incredibly active, and with the right push, it can realize functioning prototypes from toy format to real production in the shortest possible time without red tape. If IOTA wants to develop a successful, innovative alternative to Blockchain, it makes sense why they should partner with AKITA.

The Collaborative Effort in the Community

IOTA also recognizes the value its community poses to the future of the network. The development team behind the Trinity wallet worked closely with IOTA’s community, gathering feedback, back testing and patching security flaws leading to the release of its new user-friendly wallet aimed at providing the less tech-savvy users with a smooth, straightforward and in-built full-featured experience.

At the moment, the mobile version of Trinity is now available for IOS and Android devices, while the desktop version is still under development. Soon, the IOTA foundation will release the source codes of the wallet with the release of the beta desktop wallet, to boost the collaborative effort in the community.

It is imperative for IOTA to find use cases for their cutting-edge technologies. In light of this, IOTA and Kontakt.io partnered to create a prototype by integrating IOTA’s very own Distributed Ledger Technology (DLT) into Kontatk.io’s location platform, for the healthcare industry and supply chains.

The prototype said to be released for commercial use later this year will equip healthcare operators and supply chain firms which monitor environmental conditions with fully transparent ways for storing and reporting on telemetry data. This solution will ensure device-device and device-cloud communication of telemetry streams is encrypted while the data remains permanent.

IOTA’s (MOITA) has had a good performance in the crypto market and currently holds a market capitalization of $4.754 billion, which makes it the 10th largest cryptocurrency. IOTA like the majority of the market has suffered the ups and downs of the crypto market. Despite this, IOTA continues to grow so does its partnerships, and perhaps in future, it could lead a global smart revolution.

Tags

Collins Valentin

Collins is a blockchain enthusiast, who spends his time between documenting the blockchain revolution in Africa, and writing the latest on the cryptocurrency space. Email: editor.news@blockpublisher.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Close