TL;DR 5 Sentence Summary - IOTA Sets Stage for Zero-Cost Digital Energy Trading
Microgrid Media became aware of and began reporting news regarding IOTA Tangle and its prospective use in the energy sector back in April.
Described as a blockchain systems platform without the blocks, IOTA claims its Tangle distributed ledger and P2P networking platform can create highly efficient zero-cost digital trading/transaction networks.
Much more than a digital cryptocurrency, IOTA tokens can also open gateways for individuals and organizations, or rather their digital, virtual proxies and automated software agents, to carry out activities across what IOTA expects and hopes will be a virtually limitless vista of distributed, peer-to-peer Tangle network transaction and distributed ledger systems and applications.
Given all its touted advantages and benefits, IOTA's Tangle may mark the next pivotal point in the evolution of a largely, if not wholly, automated, autonomous and borderless digital economy driven by virtual business entities and their network software agents undertaking transactions autonomously inside the organization, as well as in private and public digital marketplaces, such as Bitfinex.
"As well, IOTA is the only technology that will support peer-to-peer energy sharing and trading with no transaction fees, scalability, or availability issues. The same holds true for industrial power systems and utilities, as well as any critical infrastructure project in terms of IOTA's ability to securely integrate traditional utility and industrial plant distribution automation and SCADA with the many IoT networks that are emerging." In essence, "IOTAs Ledger of Everything will become the backbone of the IoT," he concluded.
IOTA is one of the emerging platforms that I'm excited about. It's no secret that the Blockchain's most pressing issue lies with its scability problem. Bitcoin has been fighting about this among their developers for many years and they've still not reached a resolution.
IOTA is still very young, but the promise of a fee-less transactional token, which scales better as more people use it, is very welcomed in this crowded cryptospace. The team behind IOTA is working very hard to become a sort of standard for the Internet of Things. Imagine fitness milestones baked into the FitBit that pays out IOTAs? It could happen.
i like your post my friend
I like IOTA but its complicated to understand. It needs to focus on usability for the average person.