- Siemens calls IOTA a solution for computer-implemented methods and systems that focuses on temporal correlation.
- Recently, Echo Protocol launched a native Bitcoin Bridge in the IOTA network, introducing its first native Bitcoin assets on the IOTA network.
A recent post on X by user Wonderer draws attention to the new patents of Siemens, a German multinational company known for working in industrial automation, digital industry, smart infrastructure and mobility solutions.
The patent explicitly refers to IOTA, a distributed ledger protocol built for machine-to-machine scalable transactions, particularly within the Internet of Things (IoT).
According to Wonderer’s explanation, a patent refers to:
The system for optimized utilization and devaluation of digital renewable resource certificates used in inappropriate tokens (NFTs) using the way computers are implemented and the production and consumption of digital renewable resource certificates used in resource conversion chains, particularly energy.
The patent explains that data blocks do not necessarily have to be traditional blockchain blocks. It could also be a specific memory or address space in a distributed database. This opens the door to blockless distributed systems such as IOTA, IoT Chain (ITC), and Byteball, which are DAG-based cryptocurrencies that process data different from standard blockchains.
In these systems, transactions themselves help to ensure and maintain a sequence of records, ensuring that data is stored in a tamper-proof, verifiable manner, without relying on traditional blockchain structures.
Why do you like it?
Instead of using linear blockchains, IOTA is built on a directed acyclic graph (DAG) architecture called Tangle. This unique structure gives IOTA several distinctive features. To issue a new transaction, the user must validate two previous transactions rather than paying the miner. This allows microtransactions between the machine and the device.
It also becomes faster and more secure as the network grows with more participants and transactions. Transactions are processed in parallel rather than waiting in a queue. This makes IOTA particularly suitable for the energy market. You need to efficiently record millions of small transactions, such as kilowatt-hour certificates.
The use of NFT in this context is not about digital art, but a unique and verifiable digital certificate. Each is time stamped and can be linked directly to its source, whether it is a solar farm or a wind turbine. The idea is that these certificates show when and where energy came from when it was produced.
Additionally, when a certificate is requested, it will be automatically cut down, preventing opportunities for reuse or double counting. This is an important safeguard for both regulatory compliance and the carbon market.
In other news, CNF confirmed that Echo Protocol, a Defi platform built on the APTOS blockchain, has launched a native Bitcoin bridge on the IOTA network. As part of the integration, Echo introduced IBTC, the first native Bitcoin asset in IOTA that users can mint with IOTA vaults by bridging assets that wrap native BTC, liquid staking tokens and Bitcoin directly into IOTA.
IOTA has slipped around 3% in the past week, but has increased by more than 50% over the past year. Currently, IOTA is trading at around $0.19, with daily trading volume down 15% to $220 million and market capitalization at nearly $774 million.
