IOTA stated that they are thrilled to announce that work has now begun on extending #IOTA’s consensus mechanism, as part of our #Coordicide Grant program.”

The project is set to be developed by Dr. André Vilela and Dr. Kenric Nelson.  The project focuses on extending the consensus mechanism on IOTA.

The mathematical mechanisms which drive the behavior of agents in groups within social networks and financial networks will be explored.  The decisions contributing to active collective phenomena will be decided. Information theory will be applied in analyzing complex systems eventually contributing to design and development of intelligent machines.

The IOTA project will focus on creating a model which will accurately capture the different aspects of Distributed Ledger Technology.  This work will be fundamental in the future extension of IOTA and will further include CA as an additional consensus mechanism.

Sydney Ifergan, the crypto expert tweeted: “IOTA are exploring every probability to facilitate a secure consensus on the Distributed Ledger Technology.  They are doing their plough to the leader in their own way in the cryptocurrency space.”

IOTA DLT for Traceability

IOTA twitter:  “We’re collaborating w/@ZebraTechnology to make RFID & barcode scanners connected to the #Tangle for easy & trusted data exchange. Join us in our webinar to learn how we are using #DLT for traceability in #supplychains. May 5 at 3PM CET.”

In the Future Proof Webinar, IOTA discussed the decentralized market places with Holger Kother, the Director of Partnerships.  Those who are participating in the Webinars will be getting an IOTA training Certificate after each session.

IOTA are working with Tangle_EE to accelerate the development of enterprise-grade and open-source tools based on Tangle.  This they will be doing in collaboration with EclipseFDN.  It helps to know more about Eclipse Unified Identity & Eclipse Tangle Marketplaces Projects.

Jens Munch, the Head of Global Trade and Supply Chains at IOTA are working with the World Economic Forum and other global experts to create a toolkit for the deployment of blockchain solutions using supplychains.  IOTA stated that they are glad to be a part of the initiative.

IOTA have been of late discussing on improving waste management using smart bins and Tangle in a way to accelerate the process of smart waste management in a way to improve energy optimization.

IOTA are in to a lot of research thus working towards a trusted and resilient future.