While waiting for the new meetup of Iota Italia to be held on April 4th during the Blockchain Now event in Milan, Cryptonomist interviewed Stefano Della Valle, evangelist of the crypto project and also CEO of Things Lab.

What news regarding the IOTA project?

There are several novelties. Let’s start with the latest technological innovations. A test network has been set up without the famous coordinator. This is a decisive step towards the conclusion of the validation path of the IOTA operational model described in mathematical terms in the WP, questioned especially by those who do not have the mathematical skills to understand it.

Here you can see the status of the tangle managed by a network of nodes without a coordinator.

The coordinator has never worried me much because it doesn’t have the ability to sign transactions, modify the tangle or control nodes; it looks more like a validator of a POS system than a centralised manager. However, I am very happy that the time is approaching when we will be able to see the active network without a coordinator because it is actually a “bottleneck”. The network without the coordinator will be much faster and this will allow us to activate many interesting projects that require very small and frequent economic transactions.

A second novelty concerns the release of a library for the georeferencing of transactions. The application scenario it enables is very interesting: using this library a device can “tag” its transactions using the unique code of its geographical location.

This label allows the application to “listen” on an IOTA node filtering the incoming transactions in real time with the georeferencing code of interest. A practical example: a weather station publishes data every 10 minutes creating georeferenced transactions. A monitoring system, selecting a given geographical area, is able to retrieve data specific to that area from the tangle and process real-time forecasts and alerts.  Today this application scenario is possible but with much greater complexity (therefore costs).

Another interesting innovation concerns the open source release of the Data Marketplace code. It is an entire platform capable of managing IoT devices that produce data. The main feature of this system is to allow the sensors to sell the data and obviously also to allow anyone to buy them.

It is a unique system that solves a considerable number of problems in a simple and effective way: the certainty of the source of the data, distribution of the data in real time, storage of the data for deferred analysis, the valorisation of the data and management of the payment process.

What are you doing in Italy?

The Italian community of IOTA is very active with various groups of independent developers involved in both open and private projects.

On April 4th the next Italian meetup will be held as part of the IOTHINGS event and we will have the honour and pleasure of hosting Dominik Schiener, co-chairman of the board of directors and co-founder of the IOTA Foundation.

Read the full Article

Get the latest Bitcoin News on The Bitcoin News
Our Social Networks:
Facebook Instagram Pinterest Reddit Telegram Twitter Youtube