IOTA Pay per Use on Hannover Fair

The full article was originally published by Simon Jegelka on Medium. Read the full article here.

Summary of the Hannover fair experience by topocare

The “pay per use” or “pay on production” PoC realizes a machine payment for every production step undertaken. The IOTA token are transferred directly when a production step is reached.

In the PoC the textile consumption is monitored by the machine, which triggers the payment. The machine is operating its own IOTA wallet and initiating the transaction of IOTA token based on the monitoring. The amount transferred for each production step is 3 IOTA which represents a micro-transaction of a approximately 0,0000009 Euro.

Due to the fact that a transaction has to be confirmed within the IOTA tangle it needs some time to be accepted. The machine is monitoring the transaction process and is promoting or reattaching a transaction, if it was not confirmed within a certain time. The average confirmation time was 3–5 minutes.

All transactions undertaken on the Hannover fair can be seen on It can be observed, that there were periods were the transactions had to be reattached quite often. Also, we were facing problems with the Wifi on the fair. However, in general the payment process went well.

Overview of the transactions done with the machine

With each transaction undertaken the machine is also attaching the current production status to the tangle. The message field of a transaction is used to insert the production parameter. This are the machine name, timestamp, rotary encoder status and the GPS-position of the machine (we had to turn off the GPS data transfer on the fair, because there was a bad connectivity within the hall).

Read the full Article

The full article was originally published by Simon Jegelka on Medium, where people are continuing the conversation by highlighting and responding to this story.

Get real time updates directly on you device, subscribe now.

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More

Trade IOTA with a free

$100,000 practice account

Cryptoassets are volatile instruments which can fluctuate widely in a very short time frame and, therefore, are not appropriate for all investors. Trading cryptoassets is unregulated and, therefore, is not supervised by any EU regulatory framework. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.