IOTA, Eclipse Foundation Form Working Group To Explore Tangle Tech In Commercial Uses

The American computer company, Dell is one of the 15 companies that has joined an IOTA working group because it wants to see how the Tangle technology can integrate into commercial solutions.

The open-source software developer Eclipse Foundation and IOTA made on Tuesday the announcement that the Tangle EE working group is going to start some projects that aim to develop commercial solutions for the technology developed by IOTA. Tangle is the scalable distributed ledger (DLT) network created by IOTA, which is different from blockchains in the sense that it uses a system that has users confirming their transactions while sending out new ones.

Other Important Names Involved in the Tangle Working Group

As said before, there are 15 companies that have joined the Tangle working group as founders. Aside from Dell, 2 of these other companies are the University of Magdeburg and STMicroelectronics, the German provider of electronics. This is what the Eclipse Foundation’s executive director Mike Milinkovich had to say about his foundation’s role with Tangle:

“The Eclipse Foundation will provide a vendor-neutral governance framework for open collaboration, with IOTA’s scalable, feeless, and permissionless DLT as a base. By doing so, we will accelerate the development of new applications built with this transformative technology.”

Many Companies Waiting to See Tangle Tested

The IOTA Foundation’s co-founder Dominik Schiener said that many companies are waiting to see the Tangle code tested before integrating it, so they’re waiting on reviews from other firms. Schiener thinks the working group that will enable the testing of the technology is very important for realizing the vision at IOTA.

Dell Will Help to Increase Access to IOTA’s Tech and More

According to David Sonstebo, IOTA’s co-founder, Tangle will give more people access to the IOTA technology. The first Tangle projects will be creating decentralized marketplaces and identities that can make real-time trading easier. According to Steve Todd from Dell, the computer company’s data marketplaces will continue to rise until this decade ends. Here are his exact words on what joining Tangle could bring:

“By 2030, trillions of dollars of data will be exchanged and one of the reasons for joining Tangle is to help our customers move towards that reality.”

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Oana Ularu
Oana Ularu
Curious about what’s going on with all the money in the world, Oana is bringing you the latest news in the crypto world. She’s aware of the fact that you need to know everything that’s happening on the financial scene in order to play the cryptocurrency market, so you can count on her to share with you every little detail on what matters.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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