The Capital
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The Capital

Demonstration and Testing of IOTA Applications in the New Public IOTA Lab

Discover the possibilities! We are very excited to launch our „public IOTA Lab“. The aim is to share the possibilities and benefits of IOTA applications with a live audience. A first example of an application is now available on the website

We are pleased to be able to introduce our section to the public. As we have already announced several times, we also present a first small live tool.

With our Lab we want soon to show a small selection of possible application and thus inspire many people and companies to integrate applications of IOTA and the Tangle. It does not just have to be on a large scale such as at VW, Bosch or Fujitsu. The variety of future applications, including smaller ones, will be of great benefit to the population. IOTA, too, will profit as well — more people will know about IOTA.

This first very simple tool consists of HTML5 animations, JavaScript and IOTA Trinity Wallet addresses. Once an IOTA payment has been made and received as unconfirmed in our wallet, the data can be retrieved from the Tangle. The selected animation (wind or sun) starts. The entered name is output to a table (driver table) and general information of the transaction is retrieved. In this demonstration, the transaction time, the time from the start of the transaction to the unconfirmed entrance in our wallet, is read out and displayed.

Applications are provided open-source on Github

Please excuse that many things are still a bit bumpy and unpolished. This is simply due to our limited financial resources, meaning that not everything could be implemented as planned. We also apologize if something does not work completely. However, our test runs showed that it continuously worked well. Despite these bumps, we have now decided to not wait any longer and present the tool in this first version. We will continue work on improvements, and as soon as the little tool has been optimized we will of course provide the code on Github.

We will also present further applications in the future. After demonstrating the speed and data transferability in our first application, we will soon demonstrate the automatic reading of measurement data with a new live application as well as their transmission through the Tangle and the automatic triggering of further processes including the payment process. The Bosch XDK will also play an important role.

Illustrating the advantages

The following positive aspects of an IOTA transaction should be illustrated with this tool:

1.) Speed: The confirmation time of a transaction is anti-proportional to the number of transactions in the network (Tangle). The faster the transaction is confirmed the more transactions are carried out in Tangle. In our tool, this is illustrated by the “tachometer”, which measures the time of an unconfirmed payment.

2.) No transaction costs (suitable for micro payments): Due to the omission of miners, neither new monetary units nor transaction fees must be removed from the system, meaning that IOTA can work completely without transaction fees. You do not have to pay any additional fees for your payment and in our tool, small or larger payments are also 1:1, preventing “bank charges” to reduce the amount. Very important: It does not matter where in the world the payment is made from.

3.) Data transfer with the Tangle: Data can be mapped in the Tangle. In IOTA, a transaction can contain about 1.2 kilobytes of data. This means that IOTA can be used for secure data transfer. These data samples can then be retrieved again and further processed elsewhere. In addition to the payment, the name, the transaction sum and the transaction time are displayed by the Tangle in our tool.

Applications in real-life:

As small and simple as this tool is knitted, there is great potential for real-life applications. For example, this tool can be used to monetize various digital content on a website that have to do with data transfer. This is possible without the expensive integration costs, which many other tools require. The interesting thing is that the time from the payment process to the provisional confirmation is very short. Furthermore, this tool could be used as a donation tool — just like it is in our case.

The story of the application comes from the field of Smart Energy:

The story of the animation is quickly told. The power grid needs to respond very quickly to the fluctuating supply of power, for instance, by switching to renewable energy. Solar power and wind energy are available as input variables in this small tool. As soon as electricity is generated via the solar cell, it will be delivered to the power grid. In the future, the solar cell could be quickly and directly remunerated from the power grid via IOTA transfers. The necessary data are passed on with the Tangle. The same is also conceivable for the wind turbine and the wind energy fed into the grid.

In our little animation, the power grid supplies an electric filling station with electricity. This happens automatically via the machine communication and the exchange of data. In this case, the electricity network will also be paid back with an IOTA transfer from the electric filling station. Finally, “Pubio” our autonomous electric vehicle comes Overnight or when parked in a car park, it automatically connects to an electric filling station and charges. The IOTA wallet built into the vehicle is also used for this data and financial transfer. Fully refueled, “Pubio” can cheerfully make another trip.

We sincerely hope that you like this new area and that you support us broadly in our plan to illustrate the benefits of IOTA and Tangles.

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The purpose of ALTCOIN MAGAZINE is to educate the world on crypto and to bring it to the hands and the minds of the masses. This article was written and composed by Markus on ALTCOIN MAGAZINE.

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Interested in cryptocurrencies especially IOTA and member of the public IOTA project.