The IOTA patent number from companies that reference it is growing rapidly, hitting 188 from 76 different companies, all saying that IOTA is the new industry standard for machines especially with the new 2.0 launch so let’s find out more in the IOTA news crypto.
IOTA was developed as a cryptocurrency for machines which also showed a strong development since the official launch until today. The potential of the tangle technology doesn’t go unnoticed between the tech giants so that numerous other major companies will also reference IOTA or the IOTA Tangle in new patents in July. This only shows that the IOTA patent number will increase in practice even more with the release of 2.0.
The best-known patent applicant is the German Tech giant Bosch. Bosch purchased an undisclosed amount of IOTA in 2018 and submitted a payment system based on the tangle to the German Patent Office. To this date, IOTA has been referenced by a total of 76 different companies in 188 patents. Siemens AG also granted a new patent entitled “methods, devices, and system for the security-protected provision of data records.” The goal of the patent is the development of a system or infrastructure that can realize new security-protected data that is able to process sensor data and also measure data for specific objects.
IOTA is referenced as the best technology because of its Tangle technology with many advantages compared to other blockchains. IOTA uses the Directed Acyclic Graph which guarantees security in the processing of transactions:
“This allows for example blockless distributed database systems, such as the IoT Chain (ITC), IOTA, and Byteball. In particular, the functionalities of the blocks of a block chain and the transactions are combined with each other in such a way that, for example, the transactions themselves secure the sequence or chain of transactions (of the distributed database system) (i.e. they are stored in a particularly secure manner).”
A prominent use case where the IOTA tangle collects data is the Lidbot Sensor which is an intelligent sensor that is attached to waste bins and notifies the connected waste management company right when the trash can is full. Sepra inc also recognized the potential of IOTA’s technology and referenced the Tangle in a new patent application:
“As IOTA is evolving closer and closer towards the goal of becoming a global standard security is our numero uno priority. Don’t trust words, check the code.”
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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