Bytes Team
Oct 9, 2018 · 2 min read

We’ve got excellent news to share!

We are extremely happy to announce that we received R&D funding from the IOTA project. Besides this initial seed-funding, Bytes looks forward to partner with some of the fantastic projects of the IOTA ecosystem.

The IOTA Technology

A great thing about IOTA is its “tangle” architecture. It overcomes some of Bitcoin’s main limitations such as the huge fixed fees, the mining and the long confirmation time. IOTA’s focus on IoT also makes it a particularly attractive platform for Bytes.

Moreover, IOTA is by all accounts the largest crypto project in Europe. Besides a market cap of over $1.5 Billion, IOTA partnered with companies such as Audi, Fujitsu, and Bosch.

Why Bytes R&D?

Bytes offers a platform for last mile, distributed, Internet access trading. Last mile means we are not substituting ourselves to regular ISPs, and distributed means the trade is not intermediated. The absence of intermediation for the processing and the structuring of the transaction is made possible by the Blockchain.

Having a platform for last mile, distributed, Internet access trading can enable many things:

  1. Do away with roaming by enabling locals to sell their excess Internet access to travellers (we will make sure this is compliant) — when was the last time you used up your 100GB monthly limit?
  2. Enable machines (or “Things” in the IoT parlance) to transact with one another. Indeed, connecting billions of machines to the Internet is nearly impossible for today’s centralised offerings. A distributed, programmable payment stack is needed.

What Next?

Working with IOTA will make a huge difference! In the coming 8 weeks we aim to:

  • Enter a tech accelerator/incubator
  • Raise more funds
  • Speed up development.

We highly recommend looking at the many exciting projects built with IOTA today!

…Join the Community to Be in the Know!

Website | Telegram | Twitter | Facebook | LinkedIn

Thanks to those of you who participated in this successful start.
If you haven’t joined the conversation yet… be welcome!


P2P Internet Access Trading

Thanks to Phani

Bytes Team

Written by

It's all about hardware and microtransactions.



P2P Internet Access Trading

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade