Blockchain

IOTA teaches that the success of blockchain technology depends not on the market cap’ – Report

  • Europe’s largest semiconductor company STMicroelectronics launched the third iteration of its IOTA-powered machine-to-machine communication software. 
  • The tech giant praised IOTA as an example of the importance of technology coming before prices in the crypto space. 

IOTA has continued to score wins in real-world use cases in the internet of things (IoT) industry. STMicroelectronics, the largest European semiconductor contract manufacturing and design company has released a new version of its software package that uses the IOTA network for embedded applications.

The software called X-CUBE-IOTA1 3.0 is integrated with other IOTA and ST technologies, the company said in a blog post. It offers the latest iota.c middleware, uses the STSAFE secure element and the L2Sec protocol, and supports Azure RTOS operating system.

Essentially, these features allow the application to take temperature and humidity values from the sensors of chips and send them to the IOTA network. The program thus simulates a product relying on the IOTA ledger for machine-to-machine communication and more.

The blog post went on to highlight that the IOTA was a natural choice for it to launch the unique application. According to ST, the IOTA blockchain has high throughput and is also highly scalable. It notes that IOTA 1.5 Chrysalis hovers in the thousands of transactions per second (TPS). An IOTA 2.0 GoShimmer prototype has shown it could reach 18,000 TPS, ST added.

However, the specific feature of IOTA that makes its X-CUBE-IOTA1 3.0 tick is the efficiency of IOTA 1.5’s payload. The IOTA iteration allows transactions to demand only 275 bytes of space, optimized from the previous 3,500 bytes.

Also read: Buidl on IOTA: New game launches and will drive adoption as more companies are using the Tangle

IOTA network gaining massive real-world adoption in the crypto bear market

This efficiency has earned IOTA high praise from the Dutch multinational technology company that is headquartered in Geneva, Switzerland, and listed on the French stock market.

ST stated in the blog post that despite of the crypto market being in turmoil, IOTA’s technology is an example that blockchain’s success is not based on price performance. The blog post read.

As the world of crypto is in turmoil, IOTA teaches that the success of blockchain technology depends not on the market cap of tokens but on the merits of its underlying infrastructure,

Follow us for the latest crypto news!

Notably, ST has been a long-term IOTA partner. It launched the first version of its software —X-CUBE-IOTA1 — in 2020. However, it is not the only real-world company to launch a product on the Tangle recently.

Late last month, tech giant Dell Technologies announced a partnership with IOTA to build a real-time carbon footprint tracking platform. The solution uses a data confidence fabric and also has BioE and ClimateCHECK in participation.

Meanwhile, the IOTA blockchain ecosystem has already seen expansion in 2023 with the launch of blockchain game IOTAHeroes. These strides make the IOTA Foundation extremely optimistic for 2023. The developments could also see the IOTA token poised for a surge. IOTA currently trades at around $0.19, up 1.56% in the daily chart.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

Source link

Leave a Comment