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
Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges…
Crypto Billionaire Predicts Massive Price Growth by 2021
Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…
TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level
Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
- Little to no transparency
- Consumer lack of confidence
- Privacy concerns
- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
BitStarz Player Smashes Record – Wins $2.4 Million on Azarbah Wishes!
The Bitcoin Revolution: Everything You Need To Know To Take Profits
3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences
Blogs2 weeks ago
Crypto Billionaire Predicts Massive Price Growth by 2021
Altcoins1 week ago
Justin Sun Bullish On TRX and BTT
Altcoins4 days ago
Why Tron (TRX) Price Won’t Remain Low for Long
Altcoins4 days ago
Why Binance May Be Crucial for Tron (Trx) to Reach $1
Bitcoin1 week ago
4 Reasons Why the New Bitcoin Rally Is Unlikely to Stop Now
Hot Updates1 week ago
Social Gaming Platform Offers Crypto Community Unrivalled Multi – Gaming Experience with Fair Odds
Trade2 weeks ago
eToroX launches gold and silver stablecoins
Altcoins4 days ago
3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance