IOTA (MIOTA) – Bytes.io using IOTA for its microtransaction capabilities: IOTA use case is growing
One thing that places IOTA (MIOTA) ahead of most DLTs is that it is feeless. This makes it quite practical especially in machine-to-machine communication where thousands of micro-transactions could be taking place simultaneously. It is this advantage to IOTA (MIOTA) that Bytes is leveraging on, to create a platform where users can sell their extra data, for tiny amounts of money without having to worry that fees could make the whole process impractical. This is clearly spelled out on the Bytes website as below.
“We implemented both an Ethereum and an IOTA transaction stack. The good thing with IOTA is that there are no transaction fees. As such, Bytes can be used even for very short interactions / infinitessimal amounts (as we expect to often be the case in the field of IoT).”
This is the same aspect to IOTA (MIOTA) that makes it quite useful in other industries, especially in the auto industry. As smart cars become the norm, they will need to interact with their environment even more, and it will involve payments. For instance, smart cars could pay for their own parking. These are payments that would not work with a crypto that involves fees. It is a feature that places IOTA (MIOTA) in a very good place in terms of adoption. With such interesting applications to IOTA (MIOTA), it is clear that its prospects in the market are pretty good.