La Trusted IoT Alliance has just welcomed Elrond as a new member: the network, with its high productivity, will bring interesting benefits to theInternet of Things.
Internet of Things: Elrond new member of TIOTA
The technological society, Elrond, has just announced to be an official member of the Trusted Internet of ThingsAlliance (TIoTA), a large group consisting of over 50 companies that are collaborating to create multiple support systems to facilitate theadoption of IoT by implementing the blockchain technology.
In general, TIoTA has always been committed to signing partnerships with leading companies around the world, to support the adoption of IoT by improving standards, creating more meaningful and exploitable opportunities for develop new IoT solutions.
Thanks to the Elrond network, all members will benefit from improved efficiency in the form of cheaper transaction fees and much higher productivity.
This will undoubtedly improve the user experience (UX) among all TIoTA members. The Elrond team is confident that the network with its speed and scalability will ensure relevant benefits to the IoT ecosystem.
Scalability can be easily achieved through significant advancements in Secure Proof of Stake and Adaptive State Sharding.
Now the Elrond network is ready to face a new phase of the Internet, which will require the need to guarantee a continuous and rapid exchange of information and data.
Also Beniamin Mincu, CEO and founder of Elrond, noted:
"Joining the Trusted IoT Alliance represents a significant step forward for the public blockchain and for the digital economy to flourish".
The future of IoT by 2025
According to the McKinsey Global Institute, by next year there will be almost 30 billion devices with a direct Internet connection.
TIoTA hopes to achieve a secure, highly scalable space for IoT by 2025. TIoTA is already made up of major players in the technology and finance sector: the list of its members includes Bosch, Cisco, KPMG, Siemens, Consensys and VeChain.
"We are excited to launch a series of IoT challenges aimed at solving real problems and promoting the validation of industrial Internet applications and solutions”, Underlines a note from Trusted IoT.
For the foreseeable future, various actors will compete to design industrial Internet solutions, which tackle concrete problems with high added value for future generations and for the Internet of Things.
Future challenges represent an excellent opportunity for end users who will be able to face the technological challenge by adopting Internet solutions within business models and processes.
