IOTA to Demonstrate IoT Applications at Industry Conference in Germany Tomorrow

The Hannover Messe attracts more than 200,000 attendees.

IOTA is to be heavily featured at a major industry conference in Germany tomorrow as a number of companies will be demonstrating its industrial applications.

The conference is called the Hannover Messe. It is one of the biggest industrial trade shows in the world, with a history going back to 1947. According to its official website, last year it featured 6,500 exhibitors, attracted 225,000 attendees from more than 70 countries, and facilitated 5.6 million business contracts.

The 2018 Messe will be opened by Angela Merkel, Chancellor of Germany, and Enrique Peña Nieto, President of Mexico.

The founders of IOTA said that a number of companies will be presenting use cases, including Bosch, DXC, Deutsche Telekom, Accessec GmbH, and Fujitsu.

The IOTA Foundation was established in 2015, and its coin MIOTA exploded in value at the end of last year, at one point even surpassing Ripple in market capitalisation. This was the result of the company’s announcement that it was partnering with more than 20 companies to create a new data marketplace. One of those partners was apparently Microsoft, although it later emerged that their relationship was not as official as it was originally made out to be.

In the few weeks leading up to the Hannover Messe, its value has approximately doubled.

The IOTA blockchain is one of the many that are designed to be quicker and lighter than that of Bitcoin. It approves transactions instantly and with no fees by allowing transactions to be added to the chain in a non-linear fashion, delegating the mining process to small groups of nodes and by allowing transactions to take place off the chain. In this it is not particularly unique – the particular selling point of IOT is that it is designed to be integrated into the internet of things, a concept in which everyday services and household devices are controlled by the internet.

Got a news tip? Let Us Know