IOTA is currently in the middle of the recovering phase along with the rest of the crypto market. The majority of currencies are currently going up in the market with some of those cryptos showing an astonishing pace of growth in the last couple of days. IOTA is also trading in the green, but the public seems to be more interested in a new venture that IOTA is involved in as of the recent events. Apparently, IOTA has found a “real-life” purpose with starting a collaboration with a company called Elaad. Let’s see what IOTA dev team is working on and what the newly-acquired collaboration can bring to this digital asset.
IOTA and Elaad Collaboration
Before mentioning anything about their collaboration with Elaad, IOTA team tweeted about the mysterious project that they have named project Q. Since the original tweet, IOTA dev team has been teasing their followers, mainly on Twitter with revealing the new project the team has been working on.
This is where collaboration with Elaad comes as crucial since this partnership made this project happen in the first place. Elaad is actually a center of education and smart technology development that operates in the Netherlands while working exclusively on improving the technology being used in their country.
The project Q actually started of independently from IOTA, when one of the team members from Elaad designed a crypto-charging station for charging of electric vehicles. The Netherlands is already known for finding eco-friendly solutions for more than just transport, so this project took a natural course of development.
This is how IOTA and Elaad started their collaboration while working together on a patent made by Elaad and powered by IOTA’s superb network known as Tangle. Thanks to Tangle, IOTA users in the Netherlands will now be able to use the first ever crypto-charging station for electric vehicles, which is both, eco-friendly and cost-effective.
Besides for making up for a cheaper and faster way of charging your electric vehicle, IOTA with this project found its way towards being used for a “real-life” purpose, which is considered to be the ultimate goal of all crypto values – to get massively adopted and used in real life while surpassing the gap between blockchain technology and more traditional technology that is currently being mass-used.
IOTA-charging Station for Electric Vehicles
The first IOTA-charging station for electric vehicles has become available for use exclusively in the Netherlands since it was Elaad, an education center set in the Netherlands that proposed this project in the first place.
Besides from marking this project as a great achievement from the side of Elaad center, we can also say that this is in more than one way, a groundbreaking point for IOTA and its currency MIOTA.
This is the case as this is the first time ever that IOTA has been put to a “real-life” use, showcasing the ability of its network Tangle, to bring two machines together to communicate at a very low cost and without redundant effort, solely by using IOTA’s Tangle technology.
The application for charging your electric vehicles is designed in a way that the user’s IOTA wallet is linked to the application for enabling of making payments instantly in order to pay for the charging of your vehicle.
Moreover, machine-to-machine communication is made to finish the job of paying for your charging thanks to IOTA’s Tangle, which is done in only 15 seconds. This case indeed goes in favor of IOTA as it showcases the great potential of its network and the technology powering that network up.
The IOTA team added on this matter that they are glad that they were able to show together with Elaad, that Tangle and IOTA can find a real-life purpose making their technology extremely applicable and scalable, especially for machine-to-machine communication.
Further, on this matter, Elaad representative team talked about further plans of improving the application for IOTA-charging station, focusing on the evolvement of general communication and the result the end user gets in the end when using this type of technology.
With IOTA’s latest project in collaboration with Elaad, it is more than obvious that this digital asset has made a huge step towards introducing Tangle to the public, for the first time making their network applicable for a real-life purpose with more room for improvement and the evolvement of their charging station application.
How is IOTA doing at the Current Moment?
As the majority of digital currencies are recovering from the most recent market dip that went off with demoralizing the entire crypto community for more than eight weeks, IOTA is doing more than well for days now as this currency is being traded in the green.
After the latest change in the market, MIOTA has gone up to 12.50% against the dollar, while trading in the green for days now. It seems that MIOTA is also showing an increased pace of growth in oppose to BTC as it is rising against this currency for over 8% today.
That being said MIOTA can be bought at the price of 1.95$ per one unit. Hopefully, IOTA will break the value of 2$ in the day to come and head towards surpassing its record price of around 5.3$ per one unit as recorded back at the end of December of 2017.
We will be updating our subscribers as soon as we know more. For the latest on cryptos, sign up for our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Jun Seita via Flickr
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…