IOTA Introduces Geo-Tag Transactions

📰 News
Wed, 03/13/2019 - 17:03
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • {{ content.field_content_author|field_value|getauthorname|raw }}

    📁💸Geo-tag transactions will serve as a catalyst for the IOTA community📌

IOTA has just introduced a new proposal that would allow tagging and retrieving transactions at a certain location. Hence, different Tangle-powered applications could be built around specific geographical regions.

IAC

Localizing every transaction

Prior to the above-mentioned proposal, there was no possibility to determine the location of a given transaction. One would have to register his/her transaction with a centralized service that collects geodata.

With the introduction of IOTA area codes (IACs), each transaction could also be localized to a 2.8 x 3.5m area if there is a need to precisely identify a certain location. Users are now able to query large geographical areas (100 x 100km) for related transactions.

Must Read
Blockchain to Be Adopted For Property Registration in Mexico - READ MORE

A slew of new developments

As reported by U.Today, IOTA recently teamed up with the biggest hacking community in the world, Hackster.io, to launch Smart City Hackathon. On top of that, one of the most promising projects in the cryptocurrency space also teamed up with startup incubator Nova.

{{ content.field_content_author|field_value|getauthorname|raw }}

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
Bitcoin (BTC) Maximalist Tone Vays Brings Up IOTA Hack to Make Case Against Ethereum (ETH)

Bitcoin (BTC) Maximalist Tone Vays Brings Up IOTA Hack to Make Case Against Ethereum (ETH)

 IOTA Foundation Investigating 'Coordinated Attack' That Resulted in Stolen Funds

IOTA Foundation Investigating 'Coordinated Attack' That Resulted in Stolen Funds

IOTA Trinity Wallet Believed to Be Facing Hacker Attack – Investigation Underway

IOTA Trinity Wallet Believed to Be Facing Hacker Attack – Investigation Underway