IOTA Partners with Austrian University for Blockchain Research Lab

IOTA Foundation, the organization behind distributer ledger IOTA, announced that it has joined the newly established Christian Doppler Laboratory Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term Technologies for the Internet of Things (CDL-BOT) as a partner.

According to the official announcement, the laboratory is based at the Vienna University of Technology and aims to provide highly advanced research on Distributed Ledger Technologies (DLTs). Additionally, the multi-blockchain token system, Pantos joined the Government-backed laboratory as a partner.

Austria’s Federal Minister for Digital and Economic Affairs, Dr Margarethe Schramböck officially inaugurated the laboratory in a virtual ceremony on 26 November. Higher management of IOTA and Pantos also joined the digital event.

The press release states that IOTA aims to expand research related to the Internet of Things (IoT) and DTL. The foundation is planning to explore new public/private partnerships between research institutes and businesses interested in the application of innovative technologies.

“The CDL-BOT is a long-term research project expected to run for seven years, employing several postdoctoral and doctoral students under the supervision of Prof. Stefan Schulte. For the IOTA Foundation, the setup of this project is uniquely geared not only to expand research on the IOTA Tangle and its applications in the Internet of Things itself but also to look beyond the IOTA protocol in order to further expand the European DLT ecosystem,” IOTA Foundation mentioned in the press release.

Rising DLTs

The application of different DLTs has increased significantly in Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and data exchange networks. IOTA Foundation plans to take advantage of the growing interest in DLTs through cutting-edge research. “With the rising number of potential application areas for DLT-based payments and data exchange in the Internet of Things, new DLTs have to be integrated, and interoperability between different DLTs becomes necessary. I am looking forward to doing joint research with the IOTA Foundation and Pantos in order to find novel solutions to this highly topical topic,” Stefan Schulte, the supervisor of CDL-BOT, said in a statement.