- Comprehensive details of the IOTA area codes (IAC)
- Recent developments of IOTA
- MIOTA price prediction for 2019
On March 14, 2019, IOTA announced the introduction of IOTA Area Codes (IAC). These are encoded location codes used to retrieve IOTA transactions that are related to a particular geographical location.
IAC is normally 10 trytes long to represent an area of 13.5m by 13.5m at the equator. They can also be 11 trytes long representing a 2.8m by 3.5m area. IAC are direct copies of plus codes that were proposed by Google Zurich back in 2014. Some adjustments need to be made to make them compatible with IOTA’s encoding.
To find transactions related to a particular geographical area when publishing information on IOTA, it would require you to register your transactions in a centralized service that collects data and serve it to the customers.
ProductID a Project of Lab Things based on IOTA
IOTA has been known for its versatility in their projects, and the same reflected in their work with Lab Things to develop ProductID. ProductID uses a digital signature to confirm the authenticity of products.
To use ProductID, the tag is first initialized then the card reader redirects the user to the initial card application stored in the IOTA ledger. In the IOTA ledger, the product key and product information are available. The user can then choose to either verify the product’s legitimacy or track the product’s location.
The tag has an internal counter that produces a unique signature, and whenever the tag is read, the counter increases and the signature also change. The signature will remain the same if the tag is copied as it doesn’t have the private key and the counter will also not increase if the page is reloaded using the same signature. The end of 2019 is projected to be the full decentralization of the ProductID.
IOTA and the Energy Industry
IOTA has made its way to the energy industry in a bid to produce smart energy through the Tangle. It is a fee-free and secure communication and transaction protocol.
IOTA has empowered producers, consumers and stakeholders to put the smart in the grid as well as smart charging which is also part of IOTA projects. The IOTA charger is available to the public. Cars that are not equipped with the necessary hardware and software can still charge by sending IOTA tokens to the charger.
IOTA Price Prediction for 2019
IOTA has another project under their sleeve with the automobile company they have recently partnered with – Volkswagen. It is scheduled to launch its first working product, Digital Car Pass in Q1 of 2019. Digital car pass is designed to track data for the evaluation of car performance. IOTA is already conducting research and the development of networking broker to enable a swift switch between different networking protocols and still retain the connection in the peer to peer network.
Currently, MIOTA ranks14 in the CoinMarketCap. However, by the end of 2019, expect the price of MIOTA to shoot up considerably if the project continues to deliver in a timely manner.