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Team Opens Up, Calls IOTA (MIOTA) Qubic A Smart Contract For Micro-payments

Against many interpretations given to Qubic by IOTA (MIOTA) enthusiasts, IOTA team has opened up on what the latest technology is, indicating that most of the pictures given to the innovation seem not to be in line.

On the 3rd of May, IOTA announced the birth of Qubic in a tweet: “We are moving rapidly towards the next epoch of IOTA, today the IOTA Foundation is excited and proud to start the official unveiling of Qubic.”

However different interpretations surfaced, with different theories pointing to a Medium blogger, whose earlier interpretations of the tech was deleted on Reddit. The blogger deeply enlightened insight enthusiasts in his Dec 6, 2017.

The blogger linked Qubic to JINN tokens due his claim that the innovation is affiliated to programmer Sergey Ivancheglo nicknamed Come-from-Beyond (CFB), stating that he intended created a technology named codenamed ‘Qubic’.

In an article, CFB explained what Qubic stood for, stating that it is very close to Bitcoin, however, it stated that the technology does not rely on blockchain technology. The technology “specializes in JINN-based IoT gadgets,” he stated in a post.

To kill all speculations, the team behind IOTA have opened up, saying Qubic is a protocol that specifies IOTA’s solution for oracle machines, smart contracts, outsourced computations, and more.

According to the team, “Qubic has evolved over time into something markedly different from the original Quorum-Based Coin idea coined on bitcointalk September 2012,” stating that the most clear difference between the two is that there now exists a working protocol to serve as the messaging and payment system: “IOTA”.

Of a truth, IOTA team explanation on what Qubic is revolve around the information available on Bitcoin Talk Forum, but the piece of info does not expatiate the tech use cases.

In this wise, the team clarifies that Qubic is not a new token or coin and there will be no Qubic ICO or airdrop.

It states that the original Qubic idea had some hard to overcome problems, but the IOTA protocol solves all those problems, making IOTA represent the global standard for IoT messaging and payments.

To add to the awesomeness of Qubic, the team reflects that Qubic is a way to safely communicate with the outside world in a trusted environment, and it is a powerful, distributed fog computing platform for building complex IoT applications.

It went ahead that the innovation is a new type of smart contract that collects micro-payments in real time, and a reward system for incentivizing honest participation in the Tangle.

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IOTA (MIOTA) Partners With Norway’s Largest Bank, Edges Out TRX In The Market

The IOTA project and coin have been having a good week in terms of partnerships and crypto-market performance. With respect to the former, IOTA (MIOTA) recently sealed a deal in the form of a partnership with Norway’s largest bank DNB ASA. With respect to market performance, IOTA has been on a constant rally since Tuesday, May 29th, and has since edged out Tron (TRX) from the number 9 spot on coinmarketcap.com.

The partnership announcement with DNB ASA was made on the 31st of May and includes both companies exploring ways to implement new technologies and processes with the IOTA Tangle being the centerpiece of the solutions. DNB, being the biggest bank in the country of Norway by market capitalization, deals in the traditional arenas of investment banking, corporate banking and international markets.

The Head of Distributed Ledger Technology at DNB, Lasse Meholm, had this to say about the partnership:

As Internet of Things (IoT) and Machine to Machine (M2M) communication and payment for microservices seem to escalate in the future, we think engaging in a Distributed Ledger based technology like IOTA gives us valuable experience and know-how on future revenue streams and business models. We are looking forward to dive into the IOTA space.

Norway has always set an example in terms of technology adoption and using such technologies to enhance the lives of its citizens. This partnership shows just how committed the country is in embracing emerging blockchain technologies.

With respect to market performance and as earlier stated, IOTA has had an impressive rally from the 29th of May amidst news of another partnership with a key logistics firm linked to the United Nations. IOTA has risen from levels of $1.35 on Tuesday, to current levels of $1.93. This is a 43% increase in less than a week!

As a result, IOTA has edged out TRX from the number 9 position according to coinmarketcap.com. The difference in market capitalization between the two cryptocurrencies is now approximately $1.4 Billion. Tron seemed to have the momentum going and leading up to the MainNet launch on the 31st of May. But history repeated itself during the livestream by Justin Sun. The token dropped by 7.8% in 1 hour during the event.

In general, the crypto-market has regained much needed volume from the recent lows experienced on Tuesday, the 29th of May. All fingers are crossed that this uptrend will continue into the month of June.

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SensorHub Goes Live, As IOTA (MIOTA) Welcomes Two Techies

There is no denying the fact that technological innovations are in thousands or millions today. To get the ones that stand out among them is one major problem that the tech community has been experiencing for some times now. One noble thing in the blockchain world is IOTA (MIOTA), the technological embodiment that every companies is trying to tap from.

As a show of outstanding performance, IOTA keeps on differentiating itself from ideas that only gain advertisement but are not able to showcae what they actually says they can do.

In recent time, different accolades and recognitions have not stopped coming the way of the cryptocoin. From recent recognitions it got at the largest industrial trade fair in Hannover Messe, Germany, to its recent partnership with Kontakt.io, the unending performances of IOTA are nothing but a clear indication of superiority in the cryptocurrency space.

SensorHub: Another Superb Use-cases

In a retweet yesterday, it was announced that SensorHub, a Proof of Concept (PoC) application on IOTA ecosystem is now live. It is touted as a Masked Authenticated Messaging (MaM) based sensor-monitoring purposely for the internet of things.

While MaM is in its experimental module, and currently under peer review, the technology is a development of IOTA technology and it is referred to as a second layer data communication protocol that enhances the “functionality to emit and access an encrypted data stream, like RSS, over the Tangle (IOTA’s distributed ledger) regardless of the size or cost of device”.

The technology, SensorHub promises in the monitoring of supply chains, agriculture, farming, vehicle conditions, tracking of personal property and environmental measurements.

IOTA introduces Two New Techies

The introduction of Dr. Rolf Werner, the head of Central Europe business at Fujitsu into IOTA foundation, was thought of as the most important employee that the cryptocurrency firm have gained in recent time. However, with the growing numbers of IOTA employee, there is an expansion in the number of thinkers and brainy individual in IOTA’s circle.

Recently, two separate employees were announced on IOTA medium blog. The first, Andrea Villa, a self-taught computer hacker, devops and entrepreneur, that has been performing excellently for 15 years in system administration, information security and networks field, and Dyrell Chapman, an Architectural Technologist who is working as the Chief Enterprise Architect at Geometric Energy Corporation, a company he co-founded. The two are no doubt an attestation to the unrelenting moves of IOTA.

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IOTA Partners Leading IoT Location Platform Provider, Kontakt.Io

The latest news in town indicates that IOTA’s yen for partnership has grown bigger, the platform has collaborated with the leading IoT (Internet of Things) location platform provider Kontakt.io.

Kontakt-IOTA Foundation partnership was moulded towards incorporating Kontakt.io’s location platform with the distributed ledger technology of the non-profit open-source foundation.

According to the press release by Kontakt.io, the combination of blockchain technology and Internet of Things technologies (IoT) will aid the introduction of tamper-proof and chargeable readings of smart sensor data, which will help furnish healthcare operators and supply chain firms.

The development is one that will enhance monitoring of “environmental conditions for compliance reasons with fully transparent ways for storing and reporting on telemetry data”.

While the collaboration is fashioned to have a huge potential of mitigating risk management, data manipulation, security breach and more in the Healthcare and Logistics sector, it is expected that the development will leverage Distributed Ledger Technology to ensure that device-to-device and device-to-cloud communication of telemetry streams are encrypted and the data itself is unalterable.

“Manufacturers, carriers, inspectors, technology providers, and consumers alike will benefit from this technology. It will increase trust and transparency, ease dispute resolution, result in better compliance breach detection, and consequently prevent faulty products from being delivered to consumers”, the statement reads.

Speaking on the development, the CEO of Kontakt.io, Philipp von Gilsa said since both IoT and blockchain technologies are similar, therefore the development will be a smooth one.

“Both are decentralized, their markets are in early stages, and a limited number of players showcased successful applications. We are starting our blockchain initiative with IOTA to speed up adaptation and innovation in both spaces.”

The CTO at Kontakt.io, Łukasz Szelejewski, also added that; “We have decided to work with IOTA because it removes the cost barrier, and it needs little computing power to confirm transactions. Moreover, IOTA, unlike blockchain or Ethereum, is capable of processing a lot of operations in almost real time”.

“In fact, the more transactions it has queued, the faster it scales. For all these reasons, IOTA makes Proof of Work possible and efficient in the IoT environment and is likely to become the next security standard for IoT.”

The Co-founder and Co-Chairman of the IOTA Foundation (IOTA), Dominik Scheiner, in his own statement, aired his belief in the partnership.

“The IOTA Tangle and its lightweight architecture is specifically designed to support smart devices and become the integrity layer for the IoT. We are looking forward to collaborating with Kontakt.io and to empower the building blocks for a smarter supply chain using their powerful IoT platform. With this partnership we also have the potential to ensure delivery of trusted and non-damaged medicine to patients by providing the needed supply chain visibility. This is a very meaningful and important endeavor.”

As IOTA continues to invade and provide solutions to different sectors around the world with blockchain technology, it is likely the blockchain tech firm will soon be crowned the ground master blockchain technology utilizer in real life use case, above any other.

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IOTA (MIOTA) Widens Lead Over Tron (TRX) By $1 Billion In Market Capitalization

IOTA (MIOTA) is making a Rocky Balboa type of come back in the cryptocurrency markets. The feeless cryptocurrency is currently ranked ninth ahead of its closest competitor, Tron (TRX). IOTA is valued at $2.30 at the moment of writing this and up just 0.065 in 24 hours. It seems the market is bearish as has been for the last one week.

Particular causes of a bearish market could be the earlier comments by the Oracle of Omaha, also known as Warren Buffett, who referred to Bitcoin as being rat poison squared. Another example could be the constant bombardment of Ethereum through a court case that is trying to figure out if tokens generated from ICOs are securities or not.

In the case of IOTA widening its lead over TRX, the gap has been extended by $1.1 Billion in terms of market capitalization of the two cryptocurrencies. The confidence in IOTA has been spearheaded by the announcement of a Porsche partnership via German Startup AutoBahn in a bid to use AI, Machine learning and the tangle, to design better vehicles for the future.

Also to add to the above, is the recent news of a the CEO of Schindler AG joining the advisory board of the IOTA Foundation. The announcement was made via a tweet by @IOTATOKENNEWS.

The tweet reads as follows:

Michael Nilles, CDO of Schindler Group, CEO of #Schindler Digital Business AG, joined the Advisory Board of #IOTA Foundation

The Schindler Group prides itself as being a company that moves over 1 Billion people per day through its global products and services. The company deals with escalators, elevators and moving walkways worldwide. The company was founded in Switzerland in 1874.

The question now remains is if IOTA will edge out Stellar (XLM) from the number 8 slot by capitalizing on the influx of good news this past few days. The difference in market capitalization between the two coins is approximately $46 Million. IOTA need only be valued at $2.47 to triumph over Stellar with current market data. This is a meager 17 cents from the current value of MIOTA.

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IOTA (MIOTA) Partners With Multinational Schindler Group, Welcomes Technophile Andrew Greve

IOTA Foundation has entered into a business alliance with Schindler Group, at the same time it employed Michael Niles as its new Board of Director, and Andrew Greve, who is currently finishing his Ph.D. in Political Science at Rutgers University as its Online Community Liaison (OCL).

Michael Niles, according to a report that confirmed the partnership with Schindler, “is an advocate and an early adopter of the Industrial Internet who has been on the learning curve of deploying smart, connected and data-driven capabilities”.

He has been saddled with the responsibility of advising IOTA on developmental issues since last year March.

Meanwhile, the Schindler Group manufactures escalators, elevators, and moving walkways worldwide. The group of companies is founded in Switzerland in 1874. It as well manufactures, installs, maintains, and modernizes elevators and escalators in many types of buildings including residential, commercial and high-rise buildings.

The company has presence in over 140 countries and has over 58,000 employees worldwide, with production facilities situated in Brazil, China, Slovakia, Spain, Switzerland, India and the United States.

Talking about Andrew Greve, he’s an avid technophile, with a keen interest in the intersection of governance and technology.

He holds degrees in History and Asia-Pacific Studies from Rowan University and NSYSU, respectively. Andrew is currently based in Taipei, Taiwan.

“Just as IOTA is on the cutting edge of technology, the IOTA Foundation and community are similarly on a cutting social edge. I believe that the open nature of the IOTA ecosystem and community push the redefinition of the relationship between organization and community to new levels.” Andrew said.

“As such, I am honored serve as the first steward of the Online Community Liaison role at the IOTA Foundation.”

IOTA Partners With InnoEnergy, DXC Technology

World-renowned non-profit blockchain foundation based in Germany, IOTA, announced the signing of a Memorandum of Understanding (MoU) with InnoEnergy Scandinavia (InnoEnergy), an innovative firm responsible for sustainable energy across Europe.

The partnership, which was made possible due to the involvement of InnoEnergy in IOTA’s Data Marketplace initiative, according to Wilfried Pimenta’s (head of Biz Dev at IOTA) statement on medium, was directed towards the advancement of “smart community solutions and business model innovation”.

Due to InnoEnergy’s affiliation with ÖrebroBostäder (ÖBO), a large public building owners that implement a pilot testbed facilities which includes EVe, a part of E-REGIO project, the IOTA- InnoEnergy collaboration will also involve ÖBO.

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IOTA (MIOTA) Partners With Porsche through German Startup, Autobahn

It has been a tumultuous few days for IOTA (MIOTA) in the market when Tron (TRX) and Neo (NEO) had managed to bypass the coin on coinmarketcap.com and according to market capitalization.This event happened on the 30th of April. IOTA has since regained the number 9 spot with a current value of $2.17 and a market capitalization of $6.033 Billion at the moment of writing this. Its nearest competitor, TRON, has a market cap of $5.344 Billion.

IOTA has since cemented some much needed partnerships to get its momentum going once again in the markets.

The most recent one is with famous car manufacturer Porsche on a project that has been named Program 4. IOTA and Porsche Digital Labs will be working together as a result of an earlier partnership with German Startup, Autobahn.

The Autobahn startup picked IOTA among other tech startups to work on an innovative platform for Smart Mobility. With the IOTA technology as the center-piece for this project, the future of smart vehicles and autonomous vehicles is sure to reach new heights.

In a May 5th tweet, IOTA News made the announcement that was well received by the IOTA community. The tweet said the following:

“The @PorscheLab is looking forward to work together with @iotatoken & @Porsche on a @StartupAutobahn Project. #StartupAutobahn is the ultimate innovation platform that unites tech companies with the tech expertise of #SilliconValley & the best of German engineering. #Porsche #IOTA.”

IOTA is the next generation platform that aims to connect all devices on its network to the IOTA tangle. Its ledger does not consist of transactions grouped into blocks and stored in sequential chains. The ledger is a stream of individual transactions entangled together. IOTA allows for the distribution and synchronization of ledgers of data and money in secure, distributed, decentralized and permissionless environments.

This Tangle is the missing link for the Internet of Everything that will empower machines and humans to participate in flourishing new permissionless economies.The machine economy is what the above partnerships will enhance.

[Photo source, porsche.com]

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IOTA Foundation Announces Ecosystem Platform and its Price Rockets Away

Clearly, the days of all-red are going away and appearing very rarely as a welcoming mid-week trading has taken over the market of cryptocurrencies. One of the top leading coins is standing high above others in gain for the last 24-hours as it rockets with 16.50 percent in the green – IOTA.

IOTA technology

Source: coinmarketcap

Recently, there were many attempts by the pair MIOTA/USD to overcome the $2.10 or at least close successfully above $2.00 but with no success which eventually ended on the first day of May with a speedy dip. However, as fast as the price dropped, it climbed its way above and clear the important resistance at $2.00 opening gates for more gain in the upcoming days hopefully forming a higher trading ground.

A very strong and confidence filling-up community with a very large share of trading happening on Bitfinex and Binance supports the project of IOTA. The IOTA Foundation, the Berlin-based company behind IOTA technology, announced the launch of IOTA ecosystem platform, on Twitter account on Wednesday morning.

“With a global community of developers, entrepreneurs, corporate executives, government officials, philanthropists, hobbyists, and general enthusiasts contributing to the IOTA project, the IOTA Ecosystem is a platform for this community to meet, collaborate, learn, inspire, develop and build.”

Targeting to unite the community, the new website will attempt to encourage and stimulate further development of the project.

Tangle is the data structure behind a new and novel micro-transaction cryptotoken optimized for the Internet-of-Things (IoT) called, appropriately enough, “IOTA.’ Very different from complex blockchains that are dealing with their era-issues, Tangle was designed to reach the level and the size of the Internet-of-Things ecosystem with tens of billions of devices connected to each other which was required to be supported by the system.

IOTA co-founder Sergey Ivancheglo, posting anonymously as “Come-From-Beyond”, wrote this on Blockchain Forum:

The number of connected devices that will permeate our modern landscape in the coming decade is estimated to be 50 billion(!) Each of these are designed to make the world a better and more seamless place for us. Tied to this fantastic promise are of course a ton of obstacles to be overcome, of which one major one is micro-transactions. These connected IoT devices must be able to automatically pay miniscule amounts to one another in a frictionless manner without having to compromise on product design by introducing additional hardware. This is why IOTA was conceived.

For the system to function properly, there is no need for miners to complete transactions as the network is planned in that way that every time a new transaction is issued, it is confirmed by the next one as the present one confirms two prior itself being requested. The more users, the better the system-network with no problem of overpopulation.

When it comes to Real-Life use, just recently ElaadNL joined up with IOTA to release the first charging station where paying and charging can be done with IOTA.

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Cobinhood To List IOTA (MIOTA) On May 4

IOTA is disrupting the nooks and crannies of the world with the waves of developments, creating a lasting impression in the mind of people. Courtesy of the altcoin’s zeal to rule the crypto verse with it progressive expansion, IOTA is preparing to be named on a new exchange, COBINHOOD, after the exchange went live on its Twitter page to announce that it will be listing IOTA on its platform.

The exchange, on its Medium page, made a broad clarification on the listing.

In a statement tagged “Finally, IOTA on COBINHOOD!”, Coinhood said it will be listing IOTA (MIOTA) on its platform for deposit and trade by May 4, 2018.

“Depositing and trading IOTA with BTC, ETH, and USDT trading pairs will be live on May 4th, while withdrawing will be enabled two weeks after listing (this post will be updated with the exact date),” the statement reads.

The statement which aired the coming up of another event flagged “Upcoming Contests & Airdrops” stated that IOTA (MIOTA) will be the first coin that will feature on the exchange for the month of May.

IOTA Previous Developments

While IOTA seems to be moving around the world with series of development lately in order to fight for its position in the market, the altcoin continues to give more and more reason to pay attention to its expansion.

Recently, in a release, it was made known that the altcoin and its team were granted a major boost with the introduction of the head of Central Europe business at Fujitsu’s connection, Dr Rolf Werner, into IOTA foundation.

At present, Werner is the Chairman of Fujitsu Technology Solutions GmBH Board, and Fujitsu is rated one of the first-class information and communication technology (ICT) company in Japan, specialized in presenting technology products, solutions, and services to the world.

In another developmental note, IOTA was granted the privilege to present at the biggest industrial trade shows in the world, which will took place in Hannover Messe, Germany. The event will hosted bigwigs world tech giants, top people in the tech industry and potential investors in innovations, giving the altcoin the opportunity to sell its ideas to the audience.

Conclusively, IOTA is becoming more and more formidable in the market today and it is making a difference in the industry. IOTA’s unrelenting effort could take it anywhere.