Iota to be supported in over a billion devices:
I think this is how most alts will be successful, which is being the underlying infrastructure of current technology. This is also one of the many reasons why meaningful partnerships are so important to long term platforms.
What ever happened to coinpuffs? Iota was one of the featured coins to invest in.
So, gold or any other precious metals are not going to be good store of value in the future ?
Trump needs to grab that asteroid by the and pay off the national debt. But don’t tell anyone we have it because that would make gold less valuable.
It blows my mind that people are sleeping on this. This is easily one of the biggest accomplishments of any project in the space, and potentially the largest step towards mass adoption.
IOTA blog explaining this in layman’s terms:
I would not call IOTA a shitcoin
Let me try my best to break down why IOTA is a sleeping giant (I promise you, this is worth the read).
IOTA has potentially solved the blockchain trilemma. This consists of the three golden characteristics, which are scaling, security, and decentralization. Unfortunately, choosing any two comes at the expense of the third. Up until now, this trilemma has been the downfall of blockchain technology.
Enter Coordicide, the new consensus mechanism called “Shimmer” which removes the current centralized IOTA Coordinator, in turn solving the trilemma.
An excerpt from the Coordicide paper:
In Cellular Consensus, the voting process is modeled as a cellular automaton, where nodes can be thought of as cells that monitor the states of their neighbors and adjust their opinion accordingly.
This is achieved by assigning a trust rating to each node via ‘Mana’, allowing the Tangle (a DAG structured blockchain - explained below) to function at it’s full potential. The result is a fully asynchronous blockchain, which scales organically. The more network traffic, the faster the network becomes (theoretically unlimited TPS). This means no more slow block times, no block size limitations, etc.
In very simple terms, DAG (Directed Acrylic Graph) is a type of blockchain, but inherently different. Instead of a linear chain of blocks, think of it more like the branches of a tree. Each transaction verifies one or more previous transactions, which continuously branch out. The benefits are that it’s asynchronous, and the more ‘branches’, the faster the system runs. So in effect, it’s intrinsically scalable by default.
The reality is that the Internet of Things (IoT) has begun, and with an anticipated 10 trillion IoT devices by 2030, the IoT market is expected to grow exponentially. In a decade, we will have dozens of IoT sensors for every living person on the planet. Autonomous cars communicating their position and trajectory with each other as well as with automated traffic systems. Weather data sensors, power grid usage and exchange, smart phones/watches/TVs, science and manufacturing data exchange, etc. The list goes on and on.
For IoT application, these transfers will need to be small, fast, secure, and feeless, which makes IOTA the perfect fit. Although some of these sensors will require value transfer, the majority will be data transfer. And yet, IOTA is the only current solution that supports simultaneous data AND value transfer at layer 0.
This is all amazing in theory, but now that Europe’s largest microprocessor manufacturer (45,000+ employees) is supporting IOTA at it’s base level, we’re one step closer to making this a reality. For anyone oblivious, ARM based processors are what powers most phones, smart watches, smart tvs, etc. They’re the backbone of nearly all modern devices. This translates to IOTA support in a billion devices within a year. What’s even more impressive, is that STM designed their own IOTA libraries for developers. This means they not only believe in IOTA as the future of IoT, but are investing resources towards supporting IOTA, as well as indirectly building the necessary hardware infrastructure for IOTA.
Lastly, TCP/IP was implemented as the standard networking protocol in 1982. It’s the backbone of the modern internet, and yet, the majority of internet users have no idea what TCP/IP is. It’s quite possible that a similar future awaits IOTA. Unlike BTC and other ALTs, consumer awareness may be irrelevant for IOTA, as adoption could easily take place unnoticed. This means that even if BTC and other forms of cryptocurrencies were to fail, IOTA could still reach adoption, as like TCP/IP, the majority of users will be using devices without even realizing the nature of the underlying protocol. The beauty here, is that unlike TCP/IP, we have the opportunity this time around to invest in the underlying protocol, which in this case is MIOTA.
So let’s do the math here.
- IOTA is potentially the first to solve the blockchain trilemma, making it decentralized, scalable, and secure
- It’s the first to have support for both data and value transfer at layer 0
- It’s one of the only projects to support feeless micro transactions
- It now has hardware level support on ARM based micro processors
- IOTA is built on next generation ternary architecture (rather than on standard binary). Samsung is now backing ternary semiconductor manufacturing, which makes IOTA future proof (https://www.extremetech.com/computing/295424-back-off-binary-samsung-backed-researchers-debut-ternary-semiconductor)
- IOTA is quantum resistant
Somehow all this progress has completely slipped under the radar. Hardly anyone seems to be realizing the shift from theory, to actual implementation. As such, IOTA is my pick as the biggest sleeping giant for real world adoption. Sort through the 2000+ Alt coins, and I dare you to find one that has more potential than IOTA.
EDIT. Might as well tag @peter since he was big on IOTA in 2017.
My new dca, thanks
Iota launches the first data marketplace. This is incredible.
IOTA is invited to join the Linux Foundation, free of charge, to provide the primary DLT solution for the LF Edge stack.
EDIT. To clarify, the LF Edge is a project aiming at being the go-to open sourced platform OS for IoT moving forward. Basically the successor to Android OS. This Edge stack is an addition to the open source library that developers use to build a very large percentage of devices.
How is no one else seeing and understanding what’s going on here? IOTA is leagues ahead of all these other projects, and adoption at the infrastructure level is happening right in front of our very eyes.
I’m checking out the website… the use cases are very real and not just a pipe dream. For sure will have a great demand, at least in Germany. No coiners seem to know about iota here, it’s unusual.
Adoption is happening, but at the infrastructure level, somehow lost in the noise and distraction of the price markets.
One other thing to note about IOTA joining the LF Edge project, is that they’re now partnered and working with IBM Hyperleder to provide a permissionless data and value transfer that compliments Hyperledger’s permissioned system.
For anyone in the know about Hyperledger, this is very significant. It’s no longer an “us versus them” scenario, but rather two opposing systems that can coexist and work to compliment each other.
Most people won’t know what I’m talking about, but I can NOT overstate how significant this is.
Bitcoin, Part Deux? lol
In Germany? Any chance that you can you elaborate on that?
My 74 year old landlord’s husband knows about iota and asked me several questions about it back in mid August, this man was Apple’s agent in Germany back in the 1990’s when no one basically used them here.
Another football club trainer in my neighbourhood who has nothing to do with cryptocurrency asked me several detailed questions about iota and the tangle back in early 2018.
You might want to check out this publication by the federal government just last week also, https://www.bmwi.de/Redaktion/DE/Publikationen/Digitale-Welt/blockchain-strategie.pdf?__blob=publicationFile&v=8
Here’s an article in English,
Nice quick little demonstration of the Industry Marketplace. Rather impressive stuff!
Iota is a scam …
Thanks for that incredibly insightful and thorough analysis.
Speaking of which, Iota now has 528 known partnerships/collaborators, up 55 (+10%) in just over 2 months!
Few examples include Microsoft, Volkswagen, Tesla, Jaguar, Porsche, Bosch, Fujitsu, Nokia, IBM, Audi, Motorola, the Linux Foundation, etc. A full list can be found at http://iotaarchive.com/listing.html
528 unique entities with a known interest in IOTA, including 94 official partnerships/collaborators, 161 entities directly working with the IOTA Foundation, 81 known IOTA Data Marketplace participants, 83 entities that already built one or more IOTA-based proof-of-concept(s) and 253 academic references from 156 academic institutions.
STM actively promoting IOTA now. Infrastructure level adoption is happening in mass, and yet the greater crypto community is failing to take notice.