New Upgrade Allows Data Exchange with Ethereum and Ripple: IOTA
- TangleHUB introduced ShellAPI for PIPE in December 2022.
- PIPE makes data use cases scalable, faster and cheaper.
- PIPE can work in unison with IOTA Tangle.
IOTA is a smart contract platform that is designed to handle payments and other transactions among physical devices connected to the internet. It is now showing major developments and improvements. In early December 2022, TangleHub introduced a Shell API for PIPE, which is an open-source, decentralized storage, and Layer-2 transfer infrastructure.
IOTA does not use blockchain, at least not in the same sense as any other project. The ecosystem had a vision of a separate kind of blockchain and designing its own system of validator nodes called Tangle.
PIPE works as a highly modified Tangle infrastructure that allows users to download/upload data along with anchors to the IOTA Shimmer Layer 1. The main benefit of PIPE Shell API is that other blockchain networks can now take advantage of the benefits of PIPE.
This can be considered a major development as it means that this upgrade could allow TangleHUB to exchange data with various popular blockchain platforms such as Ethereum and Ripple. This crucial development could open the gateways for collaboration with the IOTA ecosystem.
Also, this can unlock many use cases for organizations and businesses. The PIPE platform addresses one of the key demands available in blockchain space, a decentralized storage solution. Additionally, its security and scalability give users ultimate control over their data. Another advantage is that PIPE can store and transfer data with other sources/channels which are anchored to IOTA Tangle.
PIPE- flexibility and beyond.
PIPE could make data use cases scalable, faster and cheaper. Albeit IOTA is capable of storing data, it has some limitations, due to which it cannot achieve scalable, high bandwidth and other high-frequency data storage use cases.
PIPE solves another major limitation faced by IOTA’s tangle technology, which that is it fails to provide enough flexibility. IOTA Tangle has strict limitations on the number of transactions that can be handled. Hence storing data-heavy applications becomes infeasible.
The total yield of Tangle is in Mbps, insufficient for real-world data dApps use cases. Suppose there are too many use cases for a heavy application; it can jam the Tangle network. As previously established, Tangle lacks the capacity for high bandwidth and high-frequency data storage applications such as smart manufacturing, smart cities, supply chain tracking etc., as all these involve huge numbers of ever-changing variables.
PIPE, on the other hand, solves all such problems through its core features like scalability, immutable data storage and transfer, user-oriented performance and design, etc. it also ensures that anyone can use their data storage solutions.
PIPE can work in unison with IOTA Tangle and handle the decentralized data storage requirements for smart contracts and decentralized finance.