TM Forum will use the IOTA tangle technology for its new Industry 4.0 solutions as we are reading more in the latest IOTA news crypto.
The Telecoms industry association TM forum announced the usage of IOTA’s tangle for trusted next-generation IoT solutions. IOTA is often called a blockchain which is not but its core purpose is similar it’s essentially a trusted ledger but one which uses a DAG (Directed Acyclic Graph) structure named the Tangle in bid-offer the scalability required for the bigger IoT deployments. TM Forum launched Mega Catalyst which is a project that aims to build a “completely trusted business” ecosystem where the telcos along with the supply chain and channel partners can interact together to bring trusted industry 4.0 solutions:
“Until now, Industry 4.0 smart solutions have been bespoke, expensive, brittle and susceptible to cyber-crime. Business expectation (as per digital consumers) is to be able to buy, use and manage ‘anything-as-a-service’ on smartphones, safely and securely. Therefore, a highly automated and repeatable approach is required.”
IOTA got a lot of criticism for a long time that it was centralized which defeated every purpose. The Decentralized ledgers ensure there’s no central point for failure while boosting the security and robustness of the system. The centralization problem of IOTA was acknowledged by the foundation because of the Coordinator mechanism of validating transactions but the Coordinator was the only designed to be a temporary solution that was replaced in a protocol upgrade known as Coordicide. David Sonstebo, the co-founder of IOTA Foundation:
“We have been working towards the removal of the Coordinator since IOTA’s inception. Now with the maturity and growth of the protocol and the quality of our research team, we are bringing that promise to fruition. IOTA was designed to address the limitations of blockchain with a feeless and scalable solution. That is now becoming a reality. With this major milestone, we are poised to accelerate into our next phase of growth and enterprise adoption in the real world.”
IOTA’s team claimed they are closer to becoming the first scalable distributed ledger technology but it clearly got the attention of the TM Forum representatives. The latest IOTA Chronicle launch was announced by the foundation to create the solution for storing blockchain transactions permanently as we reported.
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 [email protected]