IOTA and Horizen are joining forces to maximize acceptance of IOTA oracles through new blockchains

Horizen, a technology platform that enables companies and developers to build their public or private blockchains, has announced a partnership with IOTA. The partnership will see the newly introduced functionality of IOTA Oracles and introduce Oracle capabilities into the Horizen sidechain and the Zendoo scaling protocol.

IOTA partnership plans

JOTA is a cryptocurrency that was developed to anchor the Internet of Things economy. It was specifically designed to provide a solution to this problem by creating a royalty-free cryptocurrency that can run on the most humble of devices.

IOTA oracles are designed to deliver off-chain data decentralized applications and smart contracts in the IOTA network. They bridge both the digital and the physical world securely and decentrally.

The original goal of the partnership was to introduce the IOTA Oracle functionality into Zendoo, Horizen’s fully decentralized and customizable sidechain protocol. In detail, the integration takes place in two stages: On the one hand, Zendoo will expand its POC sidechain with the power of IOTA oracles. Second, the IOTA oracle filing is straight into the Zendoo SDK.

Horizens Zendoo makes the IOTA oracle available to any blockchain or Horizen-based decentralized program. It enables companies and developers to build their customizable blockchain.

With the successful changes after Chrysalis, an intermediate step before Coordicide, the IOTA network will prepare digital tokens sometime in the first half of 2021. IOTA is now focused on connecting different ecosystems with unique valuable offerings and practical applications.

Chrysalis is the most significant improvement in the history of IOTA and covers all aspects of the protocol, library, portfolio and software implementation developed by the IOTA Foundation. It really is a significant step for IOTA as it is ready for production and forms the basis for upcoming features like smart contracts and tokenization.

Tokenization Centers IOTA’s plans

The increasing demand for DLT solutions prompted IOTA to develop solutions that further increase acceptance. As a result, when they get the most out of their knitting, they released various tools, libraries, and frameworks for the ecosystem to thrive.

The detail of a digital asset framework is the first step in a larger scheme. Tokenization connects many parts of a cellular network, including smart contracts. The free and easy tokenization of the scalable machine platform opens up new possibilities in NFT and others for the user to explore.

Instead of a blockchain, IOTA is supported by a DAG called Tangle. The IOTA team chose to use DAG instead of blockchain as they believed it would help solve many of the scalability and cost issues associated with blockchain. With Tangle, each transaction can be processed individually rather than simultaneously, and it can even be processed asynchronously.

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