Object Management Group Blockchain event in Seattle_11 December 2018. Presenters: Alexander Renz and Paul Handy, IOTA
IOTA – The Backbone of IOT and the Machine-to-Machine Economy
Alexander Renz, Advisor to the IOTA Foundation
Paul Handy, Senior Software Engineer, IOTA Foundation
IOTA is a 3rd generation distributed ledger technology (DLT) based on a Directed Acyclic Graph (DAG) called the Tangle. Unlike traditional blockchain technologies, it is not based on ‘blocks’ and ‘chains’ with its inherent limitations such as scalability issues, transactions fees and centralization of mining power. We will discuss the key concepts the IOTA Tangle and discuss some of its use cases in the Industrial IoT and Smart Mobility context. IOTA is built for the Internet of Things (IoT) and the Machine-to-Machine (M2M) economy. The technology is open source and developed and standardized by the IOTA Foundation, a Berlin-based not for profit organization.
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