IOTA will use a new chip for transactions within its network. This was reported by representatives of the IOTA Foundation. As part of implementing this solution, a collaboration has begun with Riddle&Code, the goal of which is the development of autonomous machine-to-machine transactions on the IOTA Tangle. The collaboration of the companies opens up the possibility of creating a new path from sensor to blockchain, which improves the functionality of some existing technologies, such as QR codes on physical objects, which can easily be copied. In addition, the extra layer of trust enables a person to grant machines greater autonomy. According to the developers, the Secure Element microchip from Riddle&Code is fully protected against unauthorized access and also "allows the private key to be securely stored on any device."
The integration of Riddle&Code into IoT devices expands trust in data sources and therefore makes it possible to make decisions based on IoT information. To achieve this result, the technology uses only those data sources whose reliability has been confirmed. Moreover, the use of the new chip for transactions raises to a new level the already popular cryptocurrency IOTA (MIOTA).
Tom Fuerstner, founder and chief technology officer of RIDDLE & CODE, said: "Modern industrial systems require reliable, scalable and transparent ecosystems for storing information. By connecting any IoT sensor or any machine to the IOTA Tangle using our microchips, we accomplish this task."
