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How Will IOTA Transform IoT Design In The Future: Analysis

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Smart cities are a concept that is getting more popular nowadays. In the crypto news, we have an altcoin that is actively working to promote the development of these projects – IOTA. But the big question that many have now is – how will IOTA transform IoT design as we know it and help people access suitable electronic currency for small fees and minor purchases?

Well, the cryptocurrency is known in the IOTA news for its ability to make micro-payments and is a cryptocurrency designed specifically for the IoT. It is being proposed for that purpose. As an electronic payment system, it must get better at security, personalization and convenience.

The truth is, IOTA was designed to provide all of these qualities. How will IOTA do that in the few years to come is through its three main advantages:

  • It is modular
  • It is decentralized
  • It is not subject to taxation

IOTA is based on a new distributed ledger called Tangle which will overcome the inefficiencies of the current blockchain design, introducing a method of consensus in a decentralized peer-to-peer solution.

This approach allows using the technology to transfer money without any commission to pay for anything – whether it’s parking fees or a car wash or a sandwich. Coming from the IOTA Foundation, a company which is working with STMElectronics to create a new level of powerful, continuous and economic access to IoT functionality.

The spectrum of this cooperation is the integration of the IOTA Tangle into ST’s 32-bit MCU ecosystem. This solution allows for products and services with IOTA functionality to be easily integrated, allowing developers to easily and quickly create and prototype new IoT solutions.

So, how will IOTA revolutionize things is through a tangle which is a different approach that made it possible to scale the network in a purely IoT and blockchain ecosystem. The idea was conceived by the young computer scientists in a group of hacker forums.

With the growth of connected devices and interoperability between them, there are endless possible applications of IOTA and Tangle. All of this will increase and the characteristic makes the new technology particularly interesting, especially in a complex infrastructure like the industry 4.0.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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IOTA Price Crosses $0.170 Mark: Will It Continue Like This?

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The IOTA price crosses another very important point today - it managed to rise across the $0.1720 level on the price chart for the 8th of April. In the latest cryptocurrencies news today, we can see that IOTA is remaining above these levels and safely rising to $0.173 with a fresh new increase. IOTA started the day's trade with a value below the $0.1640 mark - which is when the cryptocurrency saw an uptrend across $0.1660 and then rose to $0.1720 near 06:00 GMT yesterday. The coin saw a day's high of $0.1730 which is very close to the current price of IOTA now. As the IOTA price crosses the $0.173 mark, many good things can be expected from the coin in the near future. IOTA showed ruffled price movements for the rest of the day yesterday, while it closed it at a new day's trade above the $0.170 mark. The technical indicators for IOTA start from the 20-day exponential moving average (EMA) which closed at $0.17040781, while the 50-day Moving Average (MA) closed above the 20EMA, being at $0.17060985. The Relative Strength Index (RSI) reached a low of 18.08 and showed that IOTA was oversold at the time, while it closed the day at 32.84. Anyways, the IOTA news now visualize that the momentum is here and the price of this altcoin just keeps adding and adding on new profits. All of this is great for IOTA investors, especially because the coin is now closer to the top 20 largest coins by market cap (it sits at #24 right now) and could enter this list soon if the ascending line continues. Meanwhile, as the IOTA price crosses the $0.170 mark, we can see that Bitcoin is stable as well and is trading above $7,300 at press time. ETH is in a similar momentum, going upwards of $171, while XRP is now closer to the $0.20 mark. In the top 20, we can see that Chainlink (LINK) added more than 17% to its price, rising to $3.34 very quickly and coming closer to Tezos (XTZ) which also scored a 6% increase to a new high of $2.14. All of this shows that the market is stable right now and investors are flocking in to crypto because of the crisis with the COVID-19 virus and the coronavirus lockdown. The trend is expected to continue in the few coming days.
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Crypto Rating Council CRC Added IOTA While Ignoring Ripple

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The Crypto Rating Council CRC is a US-based consortium of crypto firms that advocates better regulatory clarity in the crypto space and backed by major companies such as Bittrex, Kraken, and Coinbase. With the growing debate over whether cryptocurrencies go under the securities category apart from Ethereum and Bitcoin which are considered assets, they analyzed a lot more of the digital assets and tried to determine whether the possess traits of security. In a blog post by the Crypto Rating Council CRC, we can see that they revealed three new cryptocurrencies to their lists with different ratings including IOTA, Basic Attention Token and the USDCoin. The blog post also revealed that the recent analysis was based on previous reviews ratings and the developments in the public domain. The CRC also updated scores for Polymath tokens and Maker. The CRC rates each token from 1-5 and the higher the rating the higher the chance of acting as a security. The ratings are important because they ensure that these are not illegally sold. Every country has different security laws and they have to follow them and provide even more clearance before making it into the market. however, the CRC is now affiliated to any government entity and the ratings are not endorsed by regulators or third parties. The CRC rating gave IOTA a score of 2.00 which makes it unlikely to be a form of security. IOTA climbed among the top of the decentralized projects and the current rating from the Crypto Rating Council will help enhance its credibility on the US market. The platform responded:
 “With our Crypto Ratings Council rating, we believe the US market and CRC’s partner organizations will feel more comfortable and confident engaging with the IOTA token and protocol.”
Apart from IOTA, BAT scored 2.00 while the USDC scored the lowest of 1.00 suggesting the least qualities of security. The USDC which is US-backed stablecoin and DAI scored 1.00 on the CRC ratings suggesting stablecoins show even fewer traits of security. The XRP token was evaluated back in 2019 and scored 4.00 showing high traits of security. The CRC ratings are not taken into consideration by governments or regulators so they won’t change their opinions any time soon, but Ripple is facing a lawsuit for being security in the US.
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IOTA Streams Goes Live In The First (Alpha) Version

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The IOTA Streams have been expected by many network users for some time now. As the company announced yesterday, the release of the Alpha version is now live for testing. Previously, this technology was called MAM (Masked Authenticated Messaging) but the IOTA Foundation decided to give it a clearer name so that users immediately know what function this application can perform. This is how MAM became IOTA Streams. Anyways, if you are following our cryptocurrency news, you would know that this is an encryption scheme for trinary messages that allows both authenticity and confidentiality on an original implementation and specification of apmi.bsu.by. In that manner, by using IOTA streams the messages sent can be encrypted via NTRU (Public Key Encryption) as well as PSK (Pre-Shared Key). In simple layman's terms, this is a second layer data transmission protocol which enables data streams. These streams are then transmitted between sensors and other devices - all in order to be encrypted appropriately and stored on the tangle in a way that cannot be manipulated. The consensus protocol used by IOTA additionally allows some integrity to the message and data streams. These features are specifically important in industries where privacy, immutability and integrity are all important. The alpha version of IOTA Streams brings some significant changes. Until now, the authors could only send, receive and sign messages. Now, they can also publish unsigned messages. Furthermore, the features show improved access control of the messages and more intelligent arranging of it within the network:
"In MAM v0, the message format was fixed, and if your use case required different message structures, you needed multiple channels for each structure. For example, you may have different message types for monitoring messages and alert messages. In IOTA Streams, you can publish both in the same channel, and applications that read the messages will distinguish them based on their specific headers," is the update shared in the IOTA news.
In MAM v0, all messages have existed independently of each other. In IOTA Streams, they can be linked together and additional information can be attached. Furthermore, older messages in a channel can be changed, and applications can retrieve only the newest valid message to guarantee the integrity.
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IOTA Payments Prototype Espiota Continues The Progress

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The IOTA payments prototype Espiota which is developed by a member of the IOTA community continues to progress with the launch of the official website and a new product video. Espiota has the power to turn any electrical device into a smart device and to perform certain tasks when an IOTA payment is made. Let’s read further in the IOTA news today. The developer Christian Oosting based in Hamburg, Germany, developed the IOTA payments prototype device which specializes in sending and receiving IOTA and allows any electrical device to trigger a specification when an IOTA payment is conducted. As Oosting reported, the project is making further progress as the new official website was launched alongside a product video. Espiota perfectly fits with the IOTA concept as the cryptocurrency is designed as the foundation of the Internet of Things and is intended to serve as the base for machine-to-machine transactions. With the help of this prototype, any electrical device can be upgraded by plugging the Espiota box between the electrical device and the power socket to start action after payment has been made with the IOTA token. Espiota can perform two functions and it can manage the power supply of the electronic devices but also enable automated payments without an intermediary. These models are called Pay for Action and Pay for Time. Time works when an electrical device is available to paying customers a certain time, while the other mode works when a device is connected to Espiota and gets the action done when the payment is made with IOTA. Other uses cases for this device could be automating machine payments, hotel industry for micropayments, power supply, or automotive industry. The video about the platform was presented yesterday and it shows how simple it is to connect a lamp to the Internet via Wi-Fi enabling. The customers can activate the electricity according to their needs by paying IOTA while using the Espiota box. Espiota also multiple setting options such as negative balance, or a pause option. The payment can be made using the IOTA Trinity wallet by scanning the QR code on the Espiota display and completing the payment in a few seconds for free.
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