Unlike most digital currencies IOTA is applying the revolutionising technology, Blockchain to the Internet of Things. It operates using a different technology that allows machines to communicate and settle transactions without fees. A lot of people have actually referred to IOTA as a “backbone for the Internet of Things (IoT).”

IOTA depends on a method called Tangle; this method is different from the standard blockchain technologies used by most companies. So instead of IoT>>>Blockchain, the structure of IOTA is IoT >>>Tangle.

While IOTA uses the Directed Acyclic Graph (DAG)-based tangle structure which doesn’t have blocks, the system has been compared to blockchain in several ways, and it was found with some similarities.

What’s Up With IOTA’s Tangle

IOTA (MIOTA) experienced growth with the new development in the crypto market this week. Fcoin, a Chinese crypto exchange, last week announced that it will be listing IOTA and EOS on its exchange, and trading of MIOTA will begin on July 25th, 2018.

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Despite these wins, Lewis Freiberg, IOTA’s Foundation Head, recently had to explain Tangle and issues relating to its scalability and transactions. He tried to clarify things with an official post ‘What’s up with Tangle?’ This was as a result of spammers who affected the network by creating parasite chains or ‘Side Tangles.’ Despite the brief challenge, Freiberg assured that IOTA’s ecosystem was evolving.

IOTA (MIOTA) Powering Smart Cities with the Blockchain

IOTA has a lot of advantage asides it zero transaction fee. The Network was designed to allow machines to trade and interact with each other on the IoT network. However, with the increasing demands on interoperability and resource sharing, +CityxChange is set to put the IOTA Tangle technology to the test in a multi-point, smart city.

IOTA earlier had a successful partnership with Taipei to create the first ever blockchain based smart city project, and the +CityxChange project is a more extensive challenge that will last over the next five years.

The project will be sponsored jointly by the European Research and Innovation program, Horizon 2020 with 20 million Euros. To ensure the implementation of the project on the first two cities of Limerick and Trondheim some partners will be funding the project with 10 million Euros.

Building Automobiles on Blockchain

Earlier in the year, IOTA partnered with Volkswagen, a major player in the automobile sector. The duo released an over the airproof of concept developed for the future of Volkswagen vehicles. IOTA also participated and won in the Startup Autobahn event which was held at the Carl Benz Arena in Stuttgart, Germany on the 19th of July.

The event created a platform for the development of the automotive industry, creating an avenue for participants to present innovative blockchain solutions for the industry. Key players such as Porsche and Mercedes were at the event to showcase their achievements alongside over 30 startups from 13 different countries across the world.

Yesterday, July 25th, it was announced that the Audi Think Tank & IOTA Foundation will be exploring Tangle-based mobility use cases in Berlin. IOTA is creating a platform where car manufacturers can integrate its open source protocol into building mobility solution.

Conclusion

Apparently, apart from the fact that IOTA has a token known as MIOTA used for crypto trading, and its use case in the automobile industry, the Cryptocurrency has displayed adeptness as a blockchain technology and beyond in awaking technology in various sectors so that places with void will be filled and the world will be a better place to live.

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