The Iota Foundation, the non-profit organization behind Iota, Iota Tangle and Miota, announced that they will join Austria’s newest Christian Doppler Laboratory (CDL) as an industrial partner.
The first of its kind, the laboratory, is located at the Technical University of Vienna and is called CDL Blockchain Technologies for the Internet of Things, or CDL-BOT.
The laboratory was officially opened on November 26th as part of a digital ceremony by the Austrian Federal Minister for Digital & Economy Margarethe Schramböck. The focus is on research and development in public-private partnerships between institutions and companies looking to expand the implementation of distributed general ledger (DLT) technologies in everyday scenarios.
The new CD laboratory is an important milestone for #IOTA #SmartContracts. We will work with leading research and industry partners to accelerate development and introduce new features such as atom swaps and cross-chain interoperability. Exciting times ahead!
– Dominik Schiener (@DomSchiener), November 26, 2020
Iota joins CDL-BOT together with its new research partner Pantos, who describes itself as “the first multi-blockchain token system”. Pantos is an offshoot of BitPanda, a Vienna-based trading platform for cryptocurrencies and other assets such as gold.
Prof. Stefan Schulte, who heads the newly established laboratory, remarked:
“With the increasing number of potential uses for DLT-based payments and data exchange in the Internet of Things, new DLTs need to be integrated and interoperability between different DLTs is required. I look forward to researching together with the IOTA Foundation and Pantos to find new solutions for this highly topical topic. “
Launched as Jinn in 2014, Iota aims to implement its platform as the de facto standard for DLT and Internet of Things or IoT devices which are currently experiencing unprecedented economic growth. With Iota as the operating standard, any IoT device can transmit data and payment information to other devices that are connected to the IOTA main network.
On November 24th, Iota completed a standardization update to ensure interoperability between devices and systems using Iota-based software. In October, the Iota Foundation announced that it was working with the Japanese government on a project to transform the country’s industrial infrastructure using their systems.
Thanks to a synchronized August upgrade, the Iota network can now theoretically process up to 1,000 transactions per second Chrysalis.
Although Iota has faced criticism of over-centralization in the past, the Iota Foundation plans to become a fully decentralized network by the first quarter of 2021.