The team behind the network IOTA (MIOTA) launched its platform open-source based on distributed ledger technology (DLT) to grant or deny access to physical devices.
IOTA is currently working with Jaguar Land Rover, STMicroelectronics, NTT Data, EDAG, RIDDLE & CODE, ETO Gruppe and BiiLabs in order to "provide a secure, highly configurable and permissionless framework for smart devices".
The framework they are working on is called IOTA Access, it allows users to grant access to any physical device or data stream remotely, without authorization, automatically and without user intervention, under specific conditions.
"Concretely, users can manage shared devices by defining rules of use", indicates the press release of the IOT FoundationA. "For example, your roommate can only borrow your car between certain hours of the day, otherwise access is revoked. It's a simple but functional way to add a layer of security to connected devices."
Also read: Most of the funds stolen in IOTA have been found.
The framework works with any Internet of Things (IoT) resource, whether it's a vehicle, a smart lock, or a sensor embedded in another object, the said. team.
The IOTA Foundation has stated that IOTA Access, on IOTA's Tangle protocol, works for small actions as well as for those of greater importance: both to manage the loan of a laptop to someone or the limitation of the screen time for children only to "control entire buildings, grant access to employees or tenants based on the time of day, manage employee identification and authorization level".
The co-founder of IOTA, Dominik schiener, stated that contract management in companies "often falls under the control of entire departments or legal teams. With IOTA Access we manage most of this work from integrated devices, platforms or even a smartphone application, ”he said.
The co-founder David Sønstebø added that a layer of transparency is added to the framework developed by IOTA. All users thus have access to the terms of all entries in the distributed ledger, including past use, changes to the agreement, and payments sent and received.
The year 2020 has not started well for IOTA and its Foundation. In February, the mainnet was indeed "on hiatus" because of the hack into Trinity's wallet. It remained closed for almost a month, Sønstebø said he would personally reimburse the victims.
Since then, according to its website, IOTA has released version 0.4.0 of its lightweight Hornet node, as the first in a series of updates to the protocol known as Chrysalis (IOTA 1.5) which is the middle step before Coordicide and IOTA 2.0 – the removal of the Coordinator, a node managed by the IOTA Foundation for network protection and transaction confirmation.
In June, the decentralized testnet for IOTA 2.0, called Pollen, was launched, the first of three phases leading to IOTA 2.0 without Coordinator.
In August, IOTA announced that Phase 1 of Chrysalide was underway. Phase 2 of Chrysalide is expected to launch later this year, and it will conclude the development of IOTA 1.5.
At 2:17 p.m. UTC, MIOTA, ranked 28th by market cap, traded at $ 0.27 and fell 1.6% in one day, reducing its weekly gains to almost 9%. The price fell 25.5% in one month and remained virtually unchanged in a year.
As reported in 2019, IOTA partnered up with Jaguar Land Rover and tested a new service that would allow drivers to earn cryptocurrency and make payments on the go.
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