• IOTA has several use cases across various industries including the health industry, energy industry, etc.
• IOTA’s key innovation is the Tangle, a distributed ledger and protocol for the Internet of Things.
• IOTA can be used in different sectors such as mobility, supply chain, health sector, and energy sector.
Overview of IOTA
IOTA is an open-source distributed ledger as well as crypto created for the Internet of Things (IoT). It has greater scalability than any other distributed ledger network as it uses a more efficient Directed Acyclic Graph (DAG) structure to store transactions on the ledger. Its key innovation is the Tangle, a distributed ledger and protocol for the Internet of Things.
Use Cases of IOTA in Different Sectors
IOTA could play a huge role in bringing commodities market responsibly to the world market. It finds its use cases in various fields including healthcare sector, smart city infrastructure, automobile and mobility sectors, supply chain sector and energy sector.
In mobility sector, IOTA can enable cars to pay autonomously for services like battery charging or tolls by securely transmitting data between cars or machines and gathering data about potholes, traffic congestion or weather conditions from remote sensors.
Supply Chain Sector
In supply chain sector, it could be a huge benefit due to its transparency which helps to reduce fraud goods that are usually 10% of total goods because lack trust and traceability problem. The Tangle technology can solve those problems by logging every step and test results on it.
Health Sector & Energy Sector
In health sector ,the MAM protocol secures data streams from remote sensors while ensuring secure data exchange between healthcare providers with immutable records stored on Tangle; meanwhile in energy sector ,the nature of tangle makes it very huge potential due to its ability to securely transmit data between machines .