IOTA United Microsoft Launches First Crypto Money Market for Internet of Things

nRunaway Comment: Cryptocurrency IOTA is currently announcing a partnership with major companies such as Microsoft, Fujitsu and PricewaterhouseCoopers to launch the first cryptocurrency marketplace for the Internet of Things to enable people to monetize their data while ensuring security Sex and scalability. In the meantime, IOTA also hopes to further publicize its technology called Tangle to make more people aware of the advantages of this new technology.n
nTranslation: Inan
IOTA, a well-established cryptocurrency startup, has partnered with Microsoft, Fujitsu and another 20 companies to launch the first publicly available data market for the Internet of Things. What is particularly intriguing about this job is that the market will be fully supported by a distributed ledger.n
The initiative will allow stakeholders to share data and monetize data in a secure manner, aiming to demonstrate proof of concept in the tamper-proof data market. Once uploaded to IOTA’s decentralized book, all data will be distributed to countless nodes to ensure immutability.n
IOTA is currently the ninth-largest cryptocurrency Coin Market Cap has based on market share with a market capitalization of 2.95 billion U.S. dollars. It is noteworthy that IOTA uses an interesting new technology to decentralize the book, so that it is decentralized. Unlike standard blockchain technology used by most companies, IOTA relies on a method called Tangle.n
IOTA co-founders Dominik Schiener and David Sonstebo claim that Tangle offers free deals and better opportunities for expansion than the blockchain.n
If you’re curious about how Tangle actually works, you can visit his site to watch a demo video of how the network has expanded.n
Sonstebo said:n
n”It is our pleasure to announce the launch of our data market, which will serve as a catalyst for a whole new paradigm, artificial intelligence and data democratization.”n
nIn addition to Microsoft and Fujitsu, other well-known companies, including Deutsche Telekom, Bosch, Accenture and PricewaterhouseCoopers, will also be involved in the project.n
Omkar Naik, a Microsoft blockchain expert, said:n
n”We are delighted to be working with the IOTA Foundation and proud to be involved in its new data market initiative.”n
nHe continued:n
n”This next-generation technology will accelerate the development of this intelligent, connected world and move beyond the blockchain to create truly innovative solutions, applications and pilots for our customers.”n
nThis market demo will run until January. IOTA promises to post a series of blog posts and case studies to demonstrate the ways in which companies and individuals can benefit from using their technology.n
Ordinary users will also have the opportunity to market their data in the marketplace by connecting their IoT devices to IOTA books. This will enable them to benefit from a variety of data such as weather station statistics and more.n
For this first demonstration, IOTA said all data will be equally valued, but this may change in the future. Schiener said:n
n”For this proof of concept, all the data will be equally valued, and in the next iteration we will include a simple bidding mechanism and more complex data set queries.”n
nAt the same time, people who want to learn more about IOTA, Tangle and their new markets can attend the TNW Q u0026 A this Thursday and IOTA co-founders Schiener and Sonstebo will answer questions from everyone.n

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