IOTA, healthcare industry, energy industry etc. It has a variety of use cases in a variety of industries, including Altcoin can play a big role in bringing the commodity market to the world market responsibly. According to reports, IOTA serves as a breakthrough technology for a billion dollar market that grew more than 10 times last year.
A groundbreaking altcoin: IOTA
IOTA is available as an open source distributed ledger as well as crypto for the Internet of Things (IoT). It uses a more efficient Directed Acyclic Graph (DAG) structure to store transactions on the ledger. As cryptokoin.com readers will know, it therefore has more scalability than any other distributed ledger network.
Interestingly, the platform is widely used in the healthcare industry, smart city infrastructure, automobile, mobility, etc. It finds examples of use in various fields, including It is worth noting that the main innovation of IOTA is the Tangle, distributed ledger and Internet of Things protocol. Tangle is Directed Acyclic Graph, i.e. no miner, no blocks and no fees. Now let’s look at some of the use cases of IOTA.
IOTA in the mobility industry
IOTA could play a big role in mobility, especially with ABI Research’s prediction that there will be 8 million self-driving consumer vehicles shipped by 2025. It’s important to remember that Tangle can be used to securely transmit data between cars or machines. Also, potholes, traffic jams, weather conditions, etc. data may be transferred. In addition, the use of IOTA, battery charging of cars, tolls, etc. enable it to pay for services autonomously.
supply chain industry
IOTA can also be of great benefit in the field of supply chain and global trade. According to research, about 10 percent of supply chain products are fraudulent. This is probably due to a lack of transparency, traceability and trust. Interestingly, IOTA Tangle technology could change the future of this industry.
Health sector
In the eHealth industry, IOTA provides security for patients’ data and democratizes access. The IOTA (MAM) protocol secures data streams from remote sensors and also secures data exchange between healthcare providers with the IOTA ledger, which proves the integrity of research data. In the field of pharmaceutical trials, IOTA ensures that the drug trial process and immutable records are secured. This is done by recording each step and test results in Tangle.
Energy sector
The nature of the IOTA Tangle makes it a huge potential in the energy industry. This includes remote control of energy assets and demand response systems for grid stability. In addition to decentralized peer-to-peer energy trading, the energy flexibility market could perfectly reform self-sufficient positive energy communities. Use case in this area also includes ‘Uninterrupted EV Smart Charging based on Plug and Charge / M2M micropayments, Sustainable energy traceability and REC tradable certification resource’. The energy transition is also rapidly recovering, with the lithium market growing from $2 billion in 2016 to $45 billion in 2022. This market has skyrocketed 10x in two years. It appears that IOTA can provide the groundwork for its responsible introduction to the world market.
The energy transition is picking up speed! The lithium market grew from $2bn in 2016 to $45bn in 2022. Many critical commodities will follow. Time to bring these commodities responsibly to the world market and finance them. #DeFi and #RWAs are the solutuion. #IOTA #SMR #BGR pic.twitter.com/s692S7QM1N
— IotaOrigin (@origin_iota) March 1, 2023
Industrial IoT
In Industrial IoT, IOTA plays a huge role. An integrated dashboard in this area provides authorized users with automatic data integrity checks as well as an overview of the machine audit trail with remote machine control. This means that, based on the digital twin concept, all actors have access to relevant information. In addition, machine owners can give the production line to the highest bidder.
environmental human impact
Another important use case of the altcoin project is its environmental human impact. According to studies, the destruction of rainforests causes more than 50,000 species to become extinct each year. Carbon credits have proven very effective in tracking eco-friendly purchases and sensors in detecting and monitoring felled trees and fires. In this case, the data stored in Tangle can be of great help.
The tamper-proof technology of the altcoin project has been found very effective in empowering local communities. Indigenous peoples in the Amazon rainforest are said to have fallen from 50 million to 200,000 in 50 years, as globalization forces people to sell their land for different purposes with no repayment. IOTA empowers these communities to earn and sell carbon credits directly. The technology also makes it easier to identify people who don’t have a government-approved ID. IOTA’s distributed ledger technology provides secure verification of people’s records and provides an immutable audit trail that cannot be manipulated and is seen only by those who have been granted access.
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