Tennessee’s business leaders, officials gather to help define state’s blockchain strategy
CoinReport
Tennessee’s business leaders, officials gather to help define state’s blockchain strategy
Business executives and officials from all over Tennessee gathered on October 23 at the offices of the state’s Department of Economic and Community Development to assist in outlining the Volunteer State’s approach for blockchain/distributed ledger technology (DLT) and create an action plan to streng…
The post appeared first on .
BNC insights feed
Crypto Market Forecast: The week ahead, 5th November
Interested in staying up to speed with the events that will impact crypto prices in the week ahead? Then bookmark Crypto Market Forecast for a curated weekly summary of forward-focused crypto news that matters
Time for Ripple (XRP) Bulls, Support Found at 30 Cents—Again! Ripple (XRP) consolidates but bulls in control CoinBase support very bullish—price and regulatory wise Transaction levels dip as prices drop Until after Ripple (XRP) prices […]
IOTA is a cryptocurrency that focuses on providing secure payments and data transactions among machines, particularly, in the realm of the Internet of Things. In the past few weeks, IOTA’s value has by 400 percent. Now, IOTA’s prospects look even brighter, as Robert Bosch Venture Capital announced that it is investing in IOTA.
Robert Bosch Ventura Capital to Industrialize IOTA Technology
The Stuttgart-based Robert Bosch Venture Capital (RBVC), the corporate venture capital company of the Bosch Group, is joining forces with the IOTA Foundation, which is the central body of the . In this regard, RBVC announced that it had purchased a significant number of IOTA tokens. Dr. Ingo Ramesohl, Managing Director at RBVC, :
The investment in IOTA’s token, the first ever token investment of RBVC, will help us working closely with the IOTA Foundation to explore the industrialization of this exciting technology.
IOTA teams and the Bosch Group have been in contact since 2015, working on several projects. David Sønstebø, co-founder of IOTA, said:
The decision by RBVC to acquire a significant amount of IOTA tokens solidifies the idea of the Machine Economy and how significant leaders in this space share our vision.
The RBVC investment follows the release of the Data Marketplace last November. The Data Marketplace allows users to store, sell, and access data streams securely. According to the IOTA Foundation, over are participating in the Data Marketplace project, such as Accenture, Bosch, Fujitsu, and Microsoft.
IOTA Introduces a Technology Paradigm Shift
IOTA’s revolutionary technology’s primary focus is on enabling the Internet of Things (IoT) applications. IOTA promises unlimited scalability and feeless micro or even nano-transactions.
In the IOTA ecosystem, there is no blockchain. Instead, there is the tangle, which is a directed acyclic graph for storing transactions. Because there are no blocks and no miners, validation of transactions occurs as :
There are no miners. What this means is that each participant in the network that wants to make a transaction has to actively participate in the consensus of the network by approving two past transactions. This attestation on the validity of two past transactions ensures that the whole network achieves consensus on the current state of approved transactions, and it enables a variety of unique features that are only seen in IOTA.
For further technical information, you may wish to read the IOTA whitepaper .
After just a few months, IOTA already boasts a market cap of over $14 billion USD. IOTA is introducing a paradigm shift in the cryptocurrency ecosystem, and as reflected by the markets, it is attracting investors and enthusiasts on the idea of the Machine Economy. The RBVC investment will undoubtedly help to boost the development of this revolutionary technology.
What are your thoughts about having crypto transactions that are not validated by miners? Let us know in the comments below.
