American computer giant Dell is among 15 companies joining an IOTA working group to explore how the firm's "Tangle" technology can be integrated into commercial solutions.
IOTA and Eclipse Foundation, the open-source software foundation, announced Tuesday the new Tangle EE working group will begin working on projects that can help develop viable commercial use-cases for IOTA's technology.
Tangle is IOTA's scalable distributed ledger network that, unlike blockchains, employs a system where users confirm transactions as they send new ones.
A total of 15 companies have joined the working group as founding members including Dell, German electronics provider STMicroelectronics and the University of Magdeburg.
"The Eclipse Foundation will provide a vendor-neutral governance framework for open collaboration, with IOTA's scalable, feeless, and permissionless DLT as a base," said Mike Milinkovich, executive director of the Eclipse Foundation.
Dominik Schiener, co-founder of the IOTA Foundation, told CoinDesk multiple companies reported they wanted to see code tested and reviewed before they themselves would go about integrating it.
By enabling thorough testing of Tangle, the working group will be a "Major stepping stone" for realizing IOTA's vision, he said.
The open-source project will help increase access to IOTA' s technology, according to IOTA co-founder David Sonstebo.
Dell believes data marketplaces will be on the rise by the end of the decade, according to Steve Todd, a fellow at Dell.
Joining the working group will allow Dell to collaborate on developing solutions, Todd said.
Dell Among Founding Members of IOTA Working Group
Published on Feb 11, 2020
by Coindesk | Published on Coinage
Mentioned in this article
Mainstream crypto adoption and DeFi were the main topics discussed at the Hangzhou International Blockchain Week
The Hangzhou International Blockchain Week 2020, one of the largest blockchain and crypto conferences in China, put a heavy focus onto mainstream adoption, with influential figures from the industry discussing the ways hundreds of millions of users could be drawn to the space.
Cardano Foundation Warns About Suspicious Activities in Japan
The Cardano Foundation has warned that a suspicious firm is trying to rake in investments by claiming contact with the foundation.
Texas Regulators Take Aim at South African Cryptocurrency MLM Scheme
The Texas State Securities Board has successfully shut down the operations of an illegal cryptocurrency investment scheme.
Cointelegraph Exclusive: CFTC Moves Annual Fintech Conference Online
On July 9, LabCFTC, the fintech office of the Commodity Futures Trading Commission, announced that it will replace its annual one-day Fintech Forward conference with three separate online sessions under the series title Empower Innovation 2020.