![]() Furthermore, it makes transactions essentially free, removing the high costs that are creating issues with Bitcoins’ blockchain technology. With DAG technology every transaction has to approve two previous transactions, and without getting into further technical details, it removes the need for miners to validate transactions since a different way of validating is built into this structure. The Tangle uses DAG ( Directed Acyclic Graph ) technology. Instead of using a ‘regular’ blockchain architecture, IOTA uses the Tangle. IOTA aims to solve issues that are linked to Bitcoin’s blockchain structure, primarily the scalability and performance issues. The tangleīefore we delve deeper into IOTA’s current collaborations with the automotive industry, first it’s important to understand what makes IOTA’s distributed ledger technology, called ‘The Tangle’ different from other blockchains. They have been working on a couple of very interesting developments and we’ll get you up to speed in this article. ![]() And while the IOTA foundation, who has already partnered with multiple automotive companies in the world, including Volkswagen, Audi, Jaguar Land Rover and automotive components supplier Bosch, is not solely focusing on how blockchain technology can advance the mobility sector, it’s main vertical still remains the automotive sector. One of the most prominent and promising blockchain companies in this regard, spear pointing the automotive and mobility sector with their focused attention is IOTA. And while it’s impossible for a single solution to tackle all of these issues at once, blockchain technology is convincing visionary people that it can at least solve some of their current and future problems. Furthermore, The need for other cleaner and electric fuel types, and for new features such as automated driving, is forcing vehicle manufacturers to divert an ever-growing part of their budget into the research and development department.Īt the same time new competitors such as Tesla, but also companies like Google and Apple are taking an increasingly bigger part of the market share.Īll these challenges are diluting the manufacturers’ profitability and causing them to join forces into shared development, or merge into bigger entities through acquisitions and partnerships. ![]() ![]() More and more people are looking into different forms of mobility to move them around their cities, and to commute from their homes to work. It hasn’t been easy.īesides PR difficulties, we see that their often younger customers don’t see owning a car as a necessity any longer. Whether it was a decline in profitability, people being laid off, OEM’s moving their factories abroad into other countries providing cheap labor, or the much-dreaded diesel emission scandals in Europe. Vehicle manufacturers have been busier trying to stay out of the news than concentrating on development, due to most newsworthy items containing information they’d rather not have in the open. But in the last couple of years a shift has occurred. It didn’t seem to matter if the vehicles were produced in Asia, Europe or the US, there was a customer for every type of car. ![]() The automotive sector has had decades of good years behind them where it seemed that all brands were able to grow their revenue with double digits with every passing year. The automotive industry is facing monumental challenges in the coming years, and IOTA is busy solving some of these problems by becoming the bridge between blockchain technology and the automotive industry. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |