Progress by IOTA and the Tangle technology
The full article was originally published by Markus on Medium. Read the full article here.
IOTA is still a very young cryptocurrency but stands out against other cryptocurrencies. There are many reasons for this, which in sum can pave the way for a global standard. What does a global standard mean? Those who have not worked so intensively with IOTA will find many answers in this article. I reviewed my summary IOTA article from last year and was amazed how much IOTA and Tangle technology have changed in a positive way in that short time. Real madness!
And it continues because IOTA applications are becoming more and more popular all over the world. We have read it many times that in the next few years many billions of devices will communicate with each other and exchange cash flows.
The networking of devices in the Internet of Things (IoT) is growing rapidly. The market research companies expect that around the world with 8.4 billion networked devices is expected. That would be almost a third more than last year. According to statistics, by 2025 about 75 billion devices will communicate with each other in the IOT. Examples are quickly found:
- Automotive: In addition to the predicted 250 million networked cars on the roads in 2020, 75 percent of all new cars produced will have Internet connectivity. The number of sensors on a car will double from currently 60 to 200. The automotive sector offers countless possible use cases of IOTA. Starting with data collection with sensors, built-in wallets to the requirements of autonomous driving. In the field of vehicle technology, there are a number of testbeds that are currently receiving public attention. Well-known representatives are Bosch, Volkswagen and Jaguar. But there are many more use cases that are remarkable.