Shitcoins, DeFi, skyrocketing of Bitcoin price (like the price of all commodities) occupy a good portion of the industry's "print media" these days. But how is the IoT moving forward?
By IoT we mean an autonomous vehicle, but that's not precise, in fact we're talking more precisely about a series of interconnected cars that share the same intelligence.
In practice, when a car "learns" something, the others, being interconnected, do the same.
If we wanted to point out, cars don't think, it's the management software that gets better and better until it reaches the optimum in any function.
Ensuring that the interconnection network is public is a very strong goal for companies in the industry.
Decentralization of the system would result in the annihilation of the software monopoly.
The IoT is a beautiful investment projected into the future: we're talking about a very interesting amount of money, almost a trillion dollars!
As we know, the two biggest companies orbiting the IoT landscape are IOTA and IoTeX.
IOTA
IOTA is still the number 1 blockchain-assimilated-project, since it comes in at a valuation of $3.6 billion at the time of writing.
In the 2017/18 period, it ranked in the top 5 of the crypto market.
We owe this escalation mainly to its innovative validation method, with no scalability issues and near-zero costs.
We are talking about its Tangle, mathematically called DAG (Directed Acyclic Graph).
The DAG, theoretically, can be updated at the speed of light, but the word speed, in crypto goes hand in hand with centralization.
The faster a network is, the more centralized it is (example BSC, very low costs and almost instantaneous operations, but it's from Binance, simply, a private company) if instead we take Ethereum, the costs are stellar and about the speed it's not that it's a war lightning, but it's totally decentralized.
Example of centralization by IOTA happened in 2020, when some wallets were forced.
As soon as they noticed, they shut down the network.
If the network was decentralized, no one could have done it!
This issue caused the esteem in the organization to waver and it slipped to 50th place.
In addition to this, there is the Coordicide lag.
Coordicide is the protocol that, once the coordinating super-node is removed, will transform IOTA into IOTA 2.0, meaning the total absence of decentralization.
Meanwhile that IOTA is working assiduously on this upgrade, other companies are certainly not standing idly by.
IoTeX
This company has not focused on building a state-of-the-art validation system, it has put its attention on processing data for on-chain use.
Its strengths are Pebble Tracker and Ucam.
Pebble Tracker is a hardware oracle that uses a secure element to verify data collected by sensors.
It is a black box inside the device's processor called the Trusted Execution Environment (TEE).
The security is so high that even the device itself doesn't have access to it, so this data can be transferred to a smart-contract without having to use a third-party oracle like Chainlink.
Ucam is a home security camera that uses a blockchain private key instead of a password.
It is clear that access can only and exclusively be made by the owner of the device.
This device won the innovation award at CES 2020.
In addition to these two spearheads, IoTeX has a myriad of dApps in its ecosystem.
We also recall its swap named "mime".
As we have seen, these two companies have focused on two different sides to address the topic of IoT.
Unfortunately IOTA, due to its very ambitious IOTA 2.0 project, is losing ground to the other company.
By all means I think a small amount of tokens from both one and the other is a good idea for diversification of one's basket.
After all, if IOTA 2.0 becomes a reality, I believe the blockchain world would undergo an energetic boost in the future!