IOTA: A Robust Platform for Energy-Saving, but Also an Avenue to Monitor Climate Changes
The world is headed for a future dominated by the Internet of Things. As an Internet of Things enabler, IOTA opens a door for the management of climate change.
The world of blockchain opened up to humanity through the bitcoin innovation. Over the course of the last decade, humanity has seen the workings of the POW algorithm, which drives bitcoin. As an energy-intensive algorithm, POW has drawn flakes globally. IOTA happens to be a project that operates outside on the normal crypto mining narrative.
IOTA is firstly Environment-friendly
Unlike most crypto, IOTA is pre-mined, and all the coins needed are already created and known. IOTA ecosystem is built on a distributed ledger framework, which is akin to the blockchain. This, however, is also the point of departure as IOTA is premised on facilitation of the Internet of Things. Why not? The future of the world is inexplicably linked to IOT.
So, while cryptocurrencies, as we have come to know them, are largely mineable, IOTA takes a different route. Its platform does not accommodate or necessitate miners. It is configured as the ledger of the Internet of Things, and all things IoT.
As IOTA does not consist of blocks, there is no block verification taking place and no fees arise to initiate or complete a transaction on the platform. So, while POW and POS platforms require the use of energy and blocks for transaction confirmation, IOTA has no limit on transactions per second. There are no restrictions on the number of transactions to be confirmed and no system boggling will result.
How Tangle Replaces Blockchain
Somehow, IOTA innovated the Tangle as a replacement for blockchain. Tangle uses the mathematical concept of Directed Acrylic Graphs, which gets validation by approving a transaction after successfully verifying the last two previous ones. This is completed by linking to IOTA nodes or wallets to validate an ongoing transaction.
By successfully eliminating miners, transaction processing is expedited so that incoming and outgoing traffic gets verified faster. The other notable edge here is that as users increase on the network, the capacity for processing becomes exponential and bigger.
The Case for IOTA is strengthened not just by its environmental-friendliness but also its fundamentals. To many people, no difference exists between IOTA and blockchain. Or to put it mildly, few people out there really understand that there is a difference. While IOTA is able to process microtransactions like other blockchains, it does so with no fees. As an open-source platform, it is scalable and also decentralized.
One more reason while IOTA can substitute other blockchains is that it is infinitely scalable with its capacity expanding as users increase. It is also supportive of off-line transactions and thereby optimizing online capacities and providing for energy and computing savings.
Linking All Things
Many people are excited by the prospects of a world linked by the Internet of Things. Others balk at the thought of more emissions attributed to blockchain energy-demands. With mining excluded from a secure Internet of Things(IoT) architecture, it is easier to link all things to the network by embedding a chip.
In a clear sense, the blockchain route is easily avoided and crypto payments are enabled for linked systems and terminals to make transactions possible. With a ready currency, MIOTA, all users of IOTA can monetize their resources or offerings on the network without a need to bother about contributing to ozone layer depletion.
A feature to note is that IOTA has no need for anyone to acquire machines for mining, or validation as long as a connection to the network is already established. With each linked machine or terminal having an identity, the IOTA layer becomes a building block for machine-to-machine communication. No additional infrastructure needs to be built as the Tangle accommodates every linked terminal to facilitate transactions.
IOTA Transaction Layers
One common beat that has contributed to the case against the Bitcoin blockchain is its dependence on repetitive and extensive validation. With Tangle, when a transaction is processed, the ledger retains all balances and by verifying that the contributing wallets are not null, it maintains the integrity needed for control and validation.
The Tangle is also able to update the balances of any subtangle so that as new transactions arise, a combination arises to reflect changes. This way, no time lag will result, and no system blind-sidedness can ensue. In essence, with Tangle, there is no need for a witness to be employed to keep an eye on transactions like the Proof of Stake mode necessitates.
By avoiding the meddlesomeness of miners, Tangle enhances the efficiency of the platform. In the same vein, it also cuts off the usage of gas to verify transactions like the Ethereum blockchain.
Like Chips Like sensors
The climatic effect of emissions can be measured by the use of sensors. By using sensors to measure the effect of natural and man-made circumstances, the direct linkages can be seen.
With millions if not billions of sensors put to work to monitor temperature, moisture, humidity, and atmospheric pressure, among others, accuracy can result. Data gleaned can help humanity precisely know how and where the changes arise.
Sensors are proven to give the necessary linkage between cause and effect. As an Internet of Things enabler, IOTA can become the platform that gives the world a trusted measurement of climate change factors.
Last Words
As interconnected sensors feed information onto IOTA network, the needed apps can measure all the provided data. The owners of the sensors that generated specific data can make money with them. These can be sold on the IOTA marketplace for data.
As a system of value, IOTA can become the major backbone of climate change data in our world. Many organizations and individuals can leverage on IOTA and earn big from this initiative
So, for every data sold, IOTA coins are earned, and the data can help us build a more habitable world.
IOTA: A Robust Platform for Energy-Saving, but Also an Avenue to Monitor Climate Changes was originally published in All Things Venture Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
