IOTA Foundation announced the release of the final alpha version of IOTA streams
The IOTA Foundation has announced the release of the final alpha versions of IOTA streams. This move is intended to disrupt data storage and manage data with IOTA streams.
After some major updates on #IOTAStreams, we’re glad to share the final alpha release! Check all the documentation available, including the new draft specification & the roadmap and try it out! https://t.co/9xjQFzjEJs#IOTA
— IOTA (@iotatoken) October 15, 2020
IOTA aims to disrupt data storage and management of data with IOTA streams
During Q4 2020, IOTA developer will develop compatibility with IOTA Chrysalis Phase 2, which is expected to be rolled out later this year. In September, software engineer and product manager Jakub Cech revealed that testing the first version of the Chrysalis button could begin as early as November.
The first alpha version of IOTA Streams (formerly known as Masked Authentication Messaging) was back online in early April.
IOTA Streams is a “Layer 2” transport protocol based on distributed ledger technology (DLT). It encrypts data exchange between different devices (mobile phones, IoT powered cars, etc.). It allows it to be stored on the IOTA Tangle without anyone being able to tamper with it.
The product targets businesses that must prioritize data security to protect their intellectual property, which is a major problem with centralized services.
“Big businesses and enterprises face some concerns around data. Consumption of their employees’ data puts the products and services they offer at risk, impacting their ability to protect their intellectual property. They need ways to verify that their business efforts remain protected and private.”
In the aforementioned blog post, IOTA makes a powerful case for owning your own data and making money from it:
“With increasing numbers of job losses, conversations around Universal Basic Income, and growing income inequality, being paid directly for your data could be an important part of the solution.”
IOTA cooperated with Jaguar Land Rover last year to print order to tackle car emission and traffic congestion. The newfangled feature will also help reduce the number of car accidents.
According to a recently published Reuters report, Jaguar will utilize IOTA to tackle car emission and traffic congestion. The newfangled feature will also help reduce the number of car accidents.
To achieve that, smart cryptocurrency wallets are being integrated into a new fleet of Jaguar cars, including the Jaguar F-PACE. Drivers will be able to earn IOTA for sharing valuable data while they are on the road.
As of now, smart wallets are in their testing stage, and it’s not clear when the technology will be available for commercial use. However, IOTA doesn’t hide its ambitious plans.
IOTA co-founder Dominik Schiener, stated:
“The smart wallet technology … can be easily adapted into all new vehicles. IOTA wants to enable interoperability with all these different players. So there is no Jaguar coin, no BMW coin, but one universal token for this machine economy.”
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