IOTA data marketplace
IOTA data marketplace is an experiment that runs on the IOTA testnet. Participants can choose to make their data available for free to other marketplace participants or to offer it for fictional “sales” in IOTA testnet tokens. No real world payments or other real world financial consequences will result from this experiment. All data being contributed to this proof of concept is either non-sensitive data of which the participants are the authorized owners and/or is publicly available data which the participants may freely choose to share.
As the official explanation of this marketplace states, the goal is to enable a truly decentralized data marketplace to open up the data silos that currently keep data limited to the control of a few entities. Data is one of the most imperative ingredients in the machine economy and the connected world.
Over the next next decade, there will be more than 75 billion connected devices that interact in different manners. This will give rise to a ‘Machine Economy’ and with this prospect of tens of billions of devices generating data, we will see a proliferation of data that is unmatched in history.
The largest obstacle preventing the fulfillment of the grandeur envisaged by ‘Big Data’ is the fact that the overwhelming majority of data remains locked in what is called ‘Data Silos’. Data silos do not, or at best very rarely, share its data outside its own closed environment.
This is why the IOTA protocol becomes necessary to unlock data’s gigantic potential.
IOTA is becoming the industry standard for data processing and payments
IOTA is marching ahead with their partnerships. Even though the ogranization they introduced as their latest collaboration partner is little known, the implications of this cooperation could be huge.
As HelloIota writes, yesterday, the IOTA Foundation has announced that it has partnered with [email protected] which is the only ISO/IEC-compliant industry standard.
[email protected] e.V. was founded in 2000, by the companies Siemens, BASF, AUDI / VW, e.on, SAP, Bayer, Degussa, Wacker, Infraserv Chemfidence and Solvay with a goal to establish a standard for secure, electronic machine-to-machine exchange of product data and properties across features, values and units.
So think of [email protected] as the standard language for industrial companies in order to enhance communication and eliminate misunderstandings.
IOTA now adds the feature for this standard which is needed to make the Internet of Things (IoT) happen: the layer on which this standardized information is communicated – especially from machine to machine (M2M)!
IOTA is especially relevant when it comes to M2M payments. In order to avoid fraud, the data which is processed needs to be tamper proof. Once stored on IOTA’s Tangle, the data cannot be altered anymore and is thus “safe”:
So if IOTA partners with [email protected] as their payment protocol, it automatically is introduced as such to the above-mentioned companies. Now you might ask where these companies come together to buy and sell their data – IOTA data marketplace is the answer.
Read here how to buy IOTA (MIOTA).
The data marketplace has been under the radar for some time now, but an update is imminent – and it will be big as one of the IOTA Foundation members has mentioned on Discord lately:
IOTA and ecology
Another IOTA focused blog published an interesting story about IOTA and its possible positive influence on the ecology of our planet.
“One of the outstanding topics of politics is the transformation of the energy system. In order to avoid emissions, wind and solar energy are an important element here. In order to make sensible use of this renewable energy in a decentralized energy system, the exchange of innumerable data and payment flows is necessary. At this point, IOTA comes into play. IOTA with the Tangle can become an important building block for handling these data and cash flows in a transforming energy system. IOTA has the properties needed for it, but is also ideal for many other applications.”
ErisX goes all hands on deck to launch a Bitcoin Futures market
ErisX’s CSO, Matt Trudeau, detailed the company’s four important plans for the future, which includes launching a spot market, to secure a Bit License, DCO, and to launch a futures market.
ErisX currently has a DCM contract, which is a Derivative Contract Market that allows ErisX to run a CFTC-regulated futures exchange. However, ErisX aims to get a DCO [Derivatives Organization], which will effectively allow it to run a CFTC-regulated clearinghouse. A clearinghouse would mean that ErisX can take control of the custody of the assets and clear and settled trades.
The CSO explained the benefit of this, stating,
“There is some efficiency for firms like producers [like mining companies]; if they need to hedge their inventory or need liquidity on a spot market, they could do that conveniently on a single platform. “
Trudeau added that from the “post-trade standpoint” and “the collateral management standpoint,” ErisX would have cash, crypto, and the futures, all stored in their clearinghouse. This would boost efficiency since it would be available for all customers under a single platform. The CSO added,
“… so there is some efficiency in terms of managing collateral, if you don’t have assets on multiple platforms, it can all be in our clearinghouse.”
Apart from the aforementioned plans, Trudeau added that the crypto-industry needs to mature more and that ErisX plans to make a significant contribution to that. He added,
“The market is professionalizing and we think that in terms of what institutions are expecting from a trading/custody experience, we will bring some of the solutions to the market and that’s really the foundational pieces that they are looking in order to build their businesses on top of us.”
Apart from ErisX, LedgerX has also received a go-sign from the CFTC to settle Bitcoin Futures in Bitcoins. Other exchanges include Intercontinental Exchange’s Bakkt and Seed CX.
Bitcoin’s fantastic run contributes to a new milestone for BitMEX
The cryptocurrency market has been rife with news about Bitcoin, the world’s largest cryptocurrency, and its massive bullish movement. In a matter of just 3 months, Bitcoin has recovered from the bearish zone near the $4000 market, to currently trade near the $12,000 zone.
This price rise has prompted popular figures in the cryptocurrency industry to voice their opinions about the king coin and where it could go from its current market situation. Alex Kruger, a popular economist and analyst, is one of them and he tweeted,
“The hourly bar that marked tonight’s bitcoin $12,972 top had the highest hourly volume in Bitmex’s history. When such high volume prints come after an extended run, they often mark a local top. One could appreciate an intra-day blow-off top on the 5 minute as well.”
Kruger’s tweet comes in the wake of information that suggests that Bitcoin’s trading volume on the popular cryptocurrency exchange had skyrocketed over the course of the past few months. It was spotted in January of this year, when the trading volume found it difficult to breach the $1 billion mark. However, the present price hike has contributed to the volume spiking by a factor of 9 to amass a trading volume of more than $9 billion.
Kruger’s tweet also had comments from other Bitcoin enthusiasts, with @rufus666, saying,
“Gonna wait for Friday when these CME shorters gonna dump the corns they had to buy on spot after weekend rallies to hedge their positions.”
BitMEX had touched another milestone recently after the exchange clocked in a trading volume of a whopping $10 billion. This feat was also marked with requests from the community, asking BitMEX to include margin trading to its fold like the Changpeng Zhao-led Binance.
At press time, Bitcoin was trading at $12,595, on the back of a significant 11.19 percent growth over 24 hours. The cryptocurrency held a market cap of $223.96 billion, and a 24 hour trading volume of 32.23 billion.
Bitcoin’s on-chain/off-chain valuation indicators the key point of focus as coin heads to $13,000
With the rise in Bitcoin’s price, the rest of the cryptocurrency market has followed suit by displaying a green trend across the board. In a recent series of tweets by popular cryptocurrency analyst Adam Tache, users were informed about the top Bitcoin on-chain and off-chain valuation indicators, derived from on-chain valuation models.
The analysis touched on the Mayer Multiple created by dividing the price by the all-important – 200 day moving average. The current average Mayer Multiple stands at a figure of 1.39, which may climb higher. Looking at previous figures, the normal Mayer Multiple figures stated that if the value shoots up to 2.4, then Bitcoin eventually retraces back to a comfortable 1.5. The Mayer Multiple is usually considered as the original indicator used to clock the valuation of Bitcoin.
Another major indicator discussed in the thread was the NVT Ratio invented by Willy Woo, Partner at Adaptive Fund. The indicator is used to calculate Bitcoin’s prominence or value in the cryptocurrency space by evaluating the amount transacted on the blockchain as a “proxy for investment flow and bear and bull market cycles.”
At the moment, the NVT ratio for Bitcoin is in an abnormal region compared to the start of previous bullish patterns. The NVT ratio was above the “bear market” separator, which meant that the cryptocurrency was overbought. When Bitcoin is overbought, it usually means that the buying pressure is much higher than the selling pressure. Adam Tache opined,
“NVT signaling overbought is likely due to a number of factors — namely the proliferation of exchange-based, purely off-chain txs driving short-term price action.”
The analysis also pointed out the liveliness of the Bitcoin indicator created by Tamas Blummer. The indicator showed the inverse count of lost or ‘HODLed’ Bitcoin, while stating that when the ratio increases, long-terms holders of the cryptocurrency decrease their positions. The indicator conveyed accumulation of Bitcoin when the ratio decreased.