Cryptocurrency

IOTA Boost by Hyper Ledger – IOTA Connector for interoperability between DLTs

In the case of IOTA in the last weeks and months, pretty hot. It’s not just great partnerships and new Use Cases have been disclosed, but the development in the direction of decoupling from the Coordicide is still on the finishing straight. Now, however, the IOTA Foundation has hit another bridge in the Blockchain-industry and the IOTA Connector is presented. The new bridge system between IOTA and Hyper Ledger Fabric will enable businesses to take advantage of Hyper Ledger, various functions of the IOTA directly.Through the Integration of the IOTA Tangle in Hyper Ledger, Smart Contracts can lead to Hyper Ledger actions (e.g., payments) and information from the IOTA Tangle retrieve. This toll-free payments, encrypted TRANS action is yet to come, payloads and Masked Authenticated Messaging.

IOTA with Hyper Ledger on the rise in the industry

According to the official announcement of the IOTA Foundation and the IOTA Connector is particularly useful for companies that deal with Supply Chain Tracking. These projects will benefit by using the native crypto-currency. Currently, the most Hyper to offer Ledger-variants of a native payment option.The announcement also indicated that the IOTA Connector should also work on other block chains and platforms. Currently, the connection with Hyper Ledger, but first the prelude.

At this point, we consider the Hyper Ledger Fabric DLT – store all the data first, and managed – as the primary source of truth.

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IOTA Connector connects two types of DLTs

The Connector combines two very different systems. Hyper Ledger Fabric is a permissioned Blockchain, which is typically used by companies in a restricted or private area. IOTA is a permissionless DLT (Distributed Ledger Technology). Here is not only with a native crypto-currency, but all transactions over a public network to be validated.IOTA has positioned itself in the IoT area (Internet of things) strong, to handle the future communications and business between the machines. This is not only a fast and cost-effective transactions, but also to the traceability of various products. Hyper Ledger with IOTA Hand-in-Hand to provide the industrial users even more possibilities for the future.The company is confident to establish a simple and clear connection between the two System.

We have worked on it, the condition of the DLTs in a permissionless context…. This does not mean, however, that we see the value in the permissioned systems.

The Connector will allow for a “fluid data exchange and validation” between the two types of systems.

Interoperability for the communication between the different DLTs

The Connector is the result of a collaboration with the Linux Foundation, which began in September. However, this cooperation is not the first attempt of IOTA to establish an interoperability between the different networks. The Qubic project of IOTA is also working on interoperability, but with a focus on Oracle data and outsourced computation.Meanwhile, Hyper Ledger has its own interoperability project: Hyper Ledger Quilt uses a Java-based inter-Ledger-implementation, in order to send money through any payment network. There is also interoperability of third-party solutions for Hyper-Ledger: In the past year, Ark has a Hyper Ledger-bridge developed, which is the new System of IOTA is very similar.There are also countless General interoperability projects, including Corda Settler, polka dot, and Cosmos. Although each project takes a different approach, the IOTA Connector is quite unique, and it remains to be seen whether the company will choose it over other Alternatives. However, the company is currently certainly on the right path. Interoperability is essential for future communication between the different DLTs.How will react the IOTA course on this development? You can position the Foundation in this field in time?Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News.You watch better Videos than read articles? Then have a look on our Youtube channel in the past. (Image Source: Shutterstock)

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.