IOTA also recognizes the power of an ecosystem approach (as opposed to the typical hub-and-spoke deployments) as evidenced, for instance, by their industry marketplace. After all, you can’t have miners, nor ask for transaction fees in such a setting – it would kill any such endeavor. The IOTA Foundation truly understands that the dynamics of the IoT device realm demand a different approach than classical blockchains typically exhibit. It is the world’s first open-source distributed ledger being built to empower the Internet of Things with fee-free microtransactions and data integrity for machines.įirst, IOTA has a clear domain focus on machine-to-machine (M2M) and the Internet of Things. IOTA is a new type of foundation developing the next generation of protocols for the connected world. So, we started a thorough investigation about two years ago which culminated in our decision to become one of the founding members of IOTA’s Tangle EE working group. These include the amount of energy needed to run most DLTs and the lack of actual operating use cases in a production environment. However, we are also acutely aware of the emerging doubts.
IOTA TANGLE SOFTWARE
Commonly referred to as blockchain, distributed ledger technology (DLT) is about to live up to the hype.Īt Software AG, we truly believe that blockchain and related DLTs have a much brighter future than Bitcoin and have the potential to significantly change the future.
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