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IOTA’s Potential as a Non-Profit Currency

IOTA (MIOTA)–Lost in the endless price speculation and market talk surrounding cryptocurrency is the innovative uses for the technology in solving real world problems. Blockchain has long been targeted by tech enthusiasts and policy makers as the potential gem to come out of crypto, with the currencies providing ancillary benefits to investors–but no one else. These analysts are only half correct. Cryptocurrency, particularly when looking across the board of the industry, has largely failed in establishing a real world presence and legitimate use cases up until this point. While most have argued that the benefits of crypto have to be measured in long term vision and adoption, the stagnation of Bitcoin and other top currencies has largely been out of a market starved for legitimate purpose.

However, losing sight of the benefits of individual currencies is a warped version of seeing the forest for the trees. Blockchain may provide the next wave of invention in terms of reshaping the political, social and financial landscape, but cryptocurrencies remain the most effective vehicle for delivery.

IOTA, the currency built to integrate with the world’s Internet of Things (IoT), has a different take on blockchain in the form of Tangle. Rather than relying upon a consensus mechanism that artificially limits network transactions via blocksizes, or enacts heavy fees from users, Tangle was designed to scale with IOTA adoption. As the currency develops more use cases, such as the most recent partnership with Volkswagen, the currency improves in ability to function. The addition of the much anticipated Qubic protocol now gives IOTA users access to developing smart contracts via the currency, in addition to the aforementioned utility of Tangle.

In all, this combines to create a technology that could find substantial use for non-profit organizations and charities seeking greater efficiency for donations and fund distribution. The IOTA Foundation has already positioned its currency as a humanitarian figure through last month’s partnership with the United Nations Office for Project Services (UNOPS) to improve the transparent efforts of the UN around the globe.

A natural extension of this partnership could be found in creating traction for non-profit organizations. Like voting via blockchain, the inefficiency of the charity/donation model has been pointed to as a prime example for crypto-based disruption–albeit with altruistic intentions. The currency IOTA offers near-instant, free transactions to be made from anywhere in the world, allowing a charity organization to collect secure payments without the added hassle of card and banking fees, or the barrier that accompanies cross-border transactions.

The release of Qubic also provides an interesting twist on the IOTA model as a source for applying better charitable practices. While Tangle allows for a friction-less payment system, Qubic’s smart contracts creates a model for accountability. Donors and charity organizers can arrange funds in contracts that ensure proper payouts. Rather than leaving a loophole for embezzlement or wasteful spending, Qubic contracts can be designed in such a way that payment can only be dispersed after following proper qualifications.

The end result is improved efficiency and less waste on behalf of the non-profit organization, while donors have greater peace of mind that their funding is going to the right places. While the aforementioned outlook of cryptocurrency still favors adoption in the scale of years as opposed to months, furthering the usability of currencies like IOTA is the first step for growing the industry.

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Breakdown of IOTA’s Qubic Compared to Ethereum (ETH) Smart Contracts

IOTA (MIOTA)–Two weeks ago, the IOTA Foundation released news concerning the long-anticipated Qubic Project. While Qubic does not constitute a new currency or coin offering, it will function as a significant improvement to the existing IOTA framework, particularly through the application of smart contracts. The press release concerning the launch of Qubic highlighted that the new protocol would focus on smart contracts, allowing for micropayments to be made through Tangle, in addition to providing an incentive for IOTA users to contribute to network function.

Tangle has been the key innovation for IOTA and the support of the IOTA Foundation, providing a technology that scales with network use. As opposed to Bitcoin’s transaction model, which relies upon miner fees that increase greatly with network congestion (reaching as high as 55 USD during last December’s high), Tangle employs a more efficient use of resources while avoiding the need for monetary fees. Instead of spending a percentage of their coin on transactions, IOTA users “pay” by providing computing power to support the consensus protocol for the entire network. As more users participate in IOTA and contribute to the network, the ability for the platform as a whole to handle more transactions also increases. Which means, the limitation to scale for IOTA is nonexistant, with the ability to handle greater volume rising with greater user participation.

Hence, the significance of IOTA’s Qubic providing an “incentive” for users to participate on the network. When it comes to Tangle, the greater the participation, the greater the utility. Smart contracts are also a major highlight to Qubic, and allow IOTA to challenge Ethereum as the most dominant currency in the field of contracts. As Reddit user u/Serialnvestor, pointed out in this analysis of Qubic vs. Ethereum smart contracts, IOTA has a significant advantage over Ethereum due to how the consensus mechanism operates:

Tangle qubics (once qubic goes live) will rely on a single quorum, or a group of quorums to perform a computation.

Ethereum smart contracts rely on every machine processing every transaction.

The ethereum network has a hidden flaw. Blocksize. The ethereum network has a gas limit rather than a block size. The ethereum network is composed of light nodes and full nodes. However with an unbounded blocksize, the network latency requirements to actually run a full node go up. And network latency does not obey moore’s law. What this means is that as the number of people who run full nodes goes down the ethereum network becomes more centralized.

IOTA, rather than relying upon each individual machine to participate in the consensus of smart contracts, is employing a quorum approach. From the definition of quorum: the minimum number of members of an assembly or society that must be present at any of its meetings to make the proceedings of that meeting valid. Execution of smart contracts, via Tangle, will institute a quorum-based approach for Qubic, meaning that a certain percentage of network users will be recruited to guarantee the security and consensus of the contract, without actually having to be validated by the entire network. The end result is greater efficiency and less time spent recruiting machines across the network. It would be similar to paying a fraction of an electorate base to verify the voting process for a political race, as opposed to requiring the consensus of every individual in a country.

Tangle continues to be the focal point for IOTA, both in terms of efficiency and its ability to dictate the future of cryptocurrency. While the coin is suffering from the price fall impacting the entire market, Qubic represents the type of innovation that could become a significant tailwind for cryptocurrency, particularly if the IOTA Foundation succeeds in making its technology the standard for the world’s 8-billion-plus IoT devices.

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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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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 (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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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.

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IOTA (MIOTA) Not Out Of The Game Yet

IOTA (MIOTA) had been temporarily edged out of the number 10 slot by Tron (TRX) yesterday but has since recovered it albeit with a narrow gap in terms of market capitalization. Only $30 Million separate the two cryptocurrencies that are trading at levels of $2.03 and $0.085 at the moment of writing this.

It is with the current momentum of Tron (TRX) that a trader might be tempted to consider that IOTA is on its way out of the top coins on coinmarketcap.com.

However, this is not the case considering the fact that Tron has a bunch of announcements and events lined up between now and the 26th of June this year. The momentum is with Tron 100%.

IOTA is still in the game and has made some major strides in the crypto-verse as I shall highlight.

The April 29th IOTA Snapshot

Earlier today at 6am UTC, there was an IOTA snapshot to reduce the size it takes for nodes to save the entire Tangle. The snapshot compacts the Tangle by removing parts of its history, except addresses with value. If you followed the instructions during the snapshot, you should be good. But if you did not, your wallet might show a zero balance. But do not despair, complete instructions on how to go about correcting this can be found here.

IOTA Real Life Use With Elaad

IOTA and Elaad have partnered in revolutionizing how electric vehicles are charged in Netherlands. Elaad specializes in the field of smart vehicle charging infrastructure. IOTA and Elaad worked together on a patent made by Elaad and powered by IOTA’s Tangle. What bore fruit is that now IOTA users in the Netherlands can now be able to use the first ever crypto-charging stations for electric vehicles which is both eco-friendly and cost effective.

The charging is done in a way that the user’s IOTA wallet is linked to the application that enables instant payments for the charging being done. Machine to machine communication finishes the transaction on the Tangle without much input by the user.

Tangle Being Tested By InnoEnergy (Europe)

IOTA and InnoEnergy have partnered through a Memorandum of Understanding to explore and demonstrate the efficacy of the IOTA Tangle and in creating smart community solutions. IOTA has been pushing for the Internet of Things on the Tangle network. With InnoEnergy focusing on efficient systems and smart energy, this will surely yield some favorable results for both companies.

InnoEnergy’s main goal is to bring sustainable energy to Europe. With the Internet of Things on the Tangle Network, wind turbines or even solar panels will be able to know what the cities demand is in terms of energy, and adjust appropriately. Perhaps another solution would be for household electronics to be turned off automatically when not in use and while on the IOTA Network.

In conclusion, the IOTA project is making considerable partnerships and progress in solving real life problems. The coin is also slowly recovering from the market correction of the past few months and shows more promise as we go down the second quarter of 2018.

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IOTA’s IoT Will Disrupt the Tech Industry.

The wave of IOTA is reaching the technology community with shocks. IOTA, in a very short time is putting enlightenment in the tech industry with innovations that are the state of the art. It is appearing, day by day, that IOTA is the next go-to firm when innovations that may probably stay beyond 21st is needed.

One very interesting and unforgettable scene is that which is happening in Germany now. At the biggest industrial trade shows in the world Hannover Messe, Germany, which is being observed since 1947, world top tech giants, who is who in the tech industry and potential investors in innovation will be listening to the superior aspects of IOTA with ICT giants selling the firm to the audience.

The trade fair, according to available information, received 6,500 exhibitors, 225,000 attendees last years. Attendees came from over 70 countries and over 5.6 million business contracts were facilitated.

The program is to be opened by Angela Merkel, Chancellor of Germany, and Enrique Peña Nieto, President of Mexico. After this program, there is tendency that IOTA disrupts the tech community sooner than expected.

Who Is Presenting At Hannover?

Virtually, over 10 tech companies including Bosch, DXC, Deutsche Telekom, Accessec GmbH, and Fujitsu are to present IOTA use case of IOTA.  The presentations are going to be inform of enlightenment or seminars for those who are interested in innovations relating to the internet of Things (IoT).

Birth Of More Development!

Although IOTA partnered with Fujitsu not long, but when the news that Dr. Rolf Werner, the head of Central Europe business at Fujitsu is coming down to IOTA surfaced, the tech world as well as the crypto world understand that it is for good. The aftermath is the series of enlightenment to be unveiled in Germany and the recent partnership with Elaad which is now resulting into the production of the world’s first smart charging station where charging and paying is effected in M2M method using the power dished by IOTA.

Aside the fact that the smart charging station is the first of its kind, it will open IOTA to series of use cases as time goes on.

In the future, IOTA will lead the tech industry through series of innovations if it continues in this pace. The sky is not the limit again.

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IOTA (MIOTA) Partners With InnoEnergy, DXC Technology

World renowned non-profit blockchain foundation based in Germany, IOTA, has today 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 Wilfried Pimenta’s (head of Biz Dev at IOTA) statement on medium, was directed towards advancement of “smart community solutions and business model innovation”.

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

About InnoEnergy

Supported by EIT, InnoEnergy is an energy producing company that has created milestone as an innovative engine for sustainable energy across Europe.

IOTA-DXC Technology Collaboration.

Before collaborating with InnoEnergy, IOTA has been striding for success this month so that it can rise  up to be amongst its contemporary, by creating solution for the populace.

On 19 April 2018, DXC Technology, on its website disclosed that it will “present practical solutions using blockchain technology integral for secure digital transformation services” with IOTA, at Hannover-Messe-Industrie, a chief trade exhibition for industrial technology.

The manufacturing industry leader for DXC Technology in North and Central Europe, Martin Rainer, flagged the presentation as one that will make the world realize that digital security is real.

“According to survey results of the DXC study on digital transformation in Germany, 67 percent of industrial managers in Germany expect smart factory networks to create new security risks that they cannot manage with their own expertise.”

“At the same time, preventing digital security risks ranks as top priority for three-quarters of companies. Yet, most companies don’t know how to professionally secure the new Industry 4.0 networks.”

While acknowledging DXC’s statement, the cofounder of IOTA, Dominik Schiener said that with blockchain, high level of security is assured.

“The blockchain brings important advantages to vital areas of digital transformation. These include the decentralized structure and also the high inherent level of security, plus protection against manipulation.”

“Existing processes will be designed more efficiently and completely new business models will be developed.”

About DXC Technology

DXC Technology (DXC: NYSE) is a top independent end-to-end IT services firm in the world. The IT based company has about 6,000 private and public-sector clients across 70 countries. Among best corporate citizens in the world, DXC Technology is a famous company.