IOTA (MIOTA): On the last few days, the whole cryptocurrency industry has faced a rebirth as prices soared by over 10% in the week. The rise was mainly attributed to Bitcoin’s price spike to $7,800 USD during this period as new higher support levels were registered. One cryptocurrency on the spotlight has been Iota (MIOTA) which has grown both on the charts and in development. The internet of things network has made solid partnerships with Volkswagen, won the recent Stuttgart Startup Autobahn event and has seen rapid developments on the blockchain itself. This has fueled the sentiments by most experts who see the blockchain surpassing Bitcoin to be the best blockchain.
IOTA wins the Stuttgart Startup Autobahn Event
The Startup Autobahn event is a major platform for the development of automotive industry creating an avenue for participants to present innovative blockchain solutions for the industry. This year’s event was held at the Carl Benz Arena in Stuttgart, Germany on the 19th of July and was supported by PlugandPlayTC, which supports startups connecting them through more than 50 accelerator programs. The event attracted major players in the automotive industry like Porsche and Mercedes with over 30 startups from 13 different countries showcasing their achievements in innovating for this industry.
IOTA’s participation in the event is just a continuation of already existing efforts to provide solutions for in the automotive space. Earlier in the year, Volkswagen, another major player in the sector, released an over the air proof of concept developed in partnership with IOTA for the future of their vehicles. IOTA uses a unique approach named tangle to enable its distributed ledger technology and internet of things capabilities. Its solutions offer numerous use cases both within the automotive industry and other sectors of the economy. Tangle takes advantage of data analytics, artificial intelligence and machine learning to enable robust applications providing solutions to problems of different difficulty levels at scale.
IOTA Summer Summit 2018
The IOTA Foundation held its first official IOTA summer summit 2018 in Oslofjord, Norway between the 7th and 14th of July. The event was an opportunity for the IOTA team, which has been working together through a distributed network, to meet for the first time further enhancing their cohesiveness and motivating them as they continue to work on projects together. The main goal of this summit was to align the founders, board and the rest of the IOTA team, with founders taking time to discuss the past, present and future of the platform mainly for the benefit of members that joined the IOTA team later. The different departments within the organization also got a chance to interact and align themselves in terms of work and communication with outside parties.
A major success of the summit was the formation of new partnerships with companies and NGOs whose activities could benefit from the technology and services provided by IOTA. One such success was the collaboration with the Peace Innovation Foundation which will see IOTA help it in a major project that involves securing of IDs. The summit attracted over 15 entities including some of the largest players operating in different fields in Norway. The summit saw the participants express interest in collaboration with IOTA with some expected to begin dialog on the specific areas of collaboration within the next month.
Some of the areas covered in a workshop leading up to the summit included discussions on double spend attacks, syncing new nodes, dynamic proof of work, protocol updates and post-Coo governance. More issues such as economic incentives, economic clustering, transaction validation and confidence, offline sub-tangles and how to transition out of Coo were also discussed.