The Iota Foundation, the non-profit organization behind Iota, Iota Tangle and Miota, announced that they will join the newer Austrian Christian Doppler Laboratory (CDL) as an industrial partner.
This is the first of its kind, and The laboratory is located at the Technical University of Vienna and is called CDL Blockchain Technologies for the Internet of Things or CDL-BOT.
The laboratory was officially opened on November 26th as part of a digital ceremony by the Austrian Federal Minister for Economics and Digital, Margarethe Schramböck. The focus is on research and development in public-private partnerships between institutions and companies looking to expand the implementation of distributed general ledger (DLT) technologies in everyday scenarios.
The new CD Lab is an important milestone for intelligent IOTA contracts. We will work with leading research and industry partners to accelerate your development and introduce new features such as atom swaps and inter-chain interoperability. Exciting times lie ahead of us!
– Dominik Schiener (@DomSchiener) November 26, 2020
Iota will join CDL-BOT along with its new research partner Pantos, which claims to be “the first multi-blockchain token system.”“. Pantos is a division of BitPanda, a Vienna-based trading platform for cryptocurrencies and other assets such as gold.
Prof. Stefan Schulte, head of the newly established laboratory, commented:
“With the growing number of potential uses for DLT-based payments and data exchange in the Internet of Things, new DLTs need to be integrated and interoperability between different DLTs is required. I look forward to working with the IOTA Foundation and Pantos to find new solutions to this highly topical problem. “
Launched as Jinn in 2014, Iota aims to implement its platform as the de facto standard for DLT and Internet of Things or IO devices, which are currently experiencing unprecedented economic growth. With Iota as the operating standard, any IOT device can transmit data and payment information to other devices connected to the main IOTA network.
On November 24th, Iota completed a standardization update to ensure interoperability between devices and systems using Iota-based software. In October, the Iota Foundation announced that it would be working with the Japanese government on a project to use their systems to transform the country’s industrial infrastructure.
Thanks to an August update called Chrysalis, the Iota network can now theoretically process up to 1,000 transactions per second.
Although Iota has been criticized in the past for being too centralized, The Iota Foundation plans to become a fully decentralized network by the first quarter of 2021.
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