- IOTA finds an important use case
- Paracosm says IOTA is the only ecosystem that satisfies all their needs
- Paracosm Platform will be the first project to adopt the latest iteration of the IOTA protocol
The VR gaming platform Paracosm has hinted that the IOTA Foundation could have a tremendous use case in the gaming industry.
“Only IOTA will do”
The Minsk-based Paracosm lauded IOTA’s technology during the ongoing DevGAMM Conference, which is the biggest conference of the gaming industry experts in Eastern Europe. The VR gaming company gave an official statement clarifying the reasons for their choice for IOTA’s platform and stated:
“The kind of platform we develop has a set of crucial requirements for the DRT, and IOTA is the only solution in the world at the moment to satisfy them all.”
According to the company’s official statement, even though there are a huge number of gaming cryptocurrencies, Paracosm sees IOTA and the Tangle with the potential to disrupt and take over the VR gaming sector.
The company mentioned the project’s scalability saying IOTA can handle a limitless number of transactions per second once adoption picks up. As per the gaming platform, the business of creating cross-reality games requires the Internet of Things (IoT) solutions and they believe IOTA is a totally new ecosystem of IoT besides being a cryptocurrency. Commenting on the development, IOTA Tweeted:
“Paracosm Platform will be the first project to adopt the final IOTA protocol. Huge USE CASE for #IOTA distributed registry technology: Paracosm Platform will unite a big number of games & other products and products from partners and 3rd parties.”
Since they are an open-sourced project, the Paracosm Platform operates an open-sourced platform that doesn’t work with “centralized governing bodies” making their choice of IOTA a perfect one.
About their future viewpoint, Paracosm states that IOTA is still one of very few crypto ecosystems that has been designed to survive the rise of quantum computing, which still remains an existential threat to many blockchain projects. IOTA is especially popular for its Quantum-proof Tangle, whose main competitive advantages enables it to stand heads and shoulders with leading blockchains like Bitcoin and Ethereum.
Editor Note: The previous version of this article posited that Paracosm had entered into an official partnership with the IOTA Foundation. The article has since been corrected.