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- IOTA has partnered with the UAE government to leverage its blockchain solutions and Tangle technology to address infrastructure challenges and enhance the digital ecosystem.
- IOTA’s Tangle technology and DAG-based architecture solve scalability and cost-related issues, ultimately enabling the IOTA Tangle network to achieve high energy efficiency while reducing energy consumption.
The IOTA Foundation has been at the forefront of key initiatives addressing a number of real-life use cases and applications. Therefore, IOTA has been working with the government to solve some infrastructure related issues and build a strong ecosystem.
Amid such developments, Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, held a meeting with IOTA co-founder and chain Dominik Schiener to explore how IOTA’s open-source blockchain solution will help strengthen the UAE’s digital ecosystem.
The UAE seeks to leverage the capabilities of the IOTA blockchain to power a wide range of industries that could play a vital role in the country’s advanced technology ambitions. Although the UAE Minister of State announced the partnership with IOTA, he did not reveal many details about the scope of the different projects they will be working on.
nice to meet @DomSchienerco-founder and chairman @iotaand explore bringing their open-source blockchain solution to #UAEdigital ecosystem. With its ability to power a wide range of fields, it can play a vital role in our advanced technology ambitions. pic.twitter.com/2wZwYIJ4k7
– Dr. Thani Al Zeyoudi (@ThaniAlZeyoudi) May 25, 2023
IOTA is still the network of choice for governments and businesses deploying large-scale projects because the blockchain is fast, reliable and very environmentally friendly. IOTA is an open-source distributed ledger technology using a directed acyclic graph (DAG) structure that enhances scalability and supports applications across industries such as healthcare, automotive and smart city infrastructure.
This has contributed to the popularity of the IOTA blockchain among government agencies that have started using the technology.Over the past few weeks, IOTA’s top management has been conduct talks with several UAE ministers. IOTA appears to be looking to establish a solid foothold in the region.
Leveraging IOTA’s Tangle technology
The UAE government will reportedly utilize IOTA’s Tangle technology, which involves a network of interconnected blocks, unlike other blockchain platforms where blocks are connected linearly.
this tangled web Stands out because it does not rely on miners to get additional blocks on the blockchain, increasing security with two rounds of validation. Furthermore, the DAG-based Tangle architecture solves scalability and cost-related issues, ultimately making the IOTA Tangle network energy-efficient and reducing energy consumption.
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After extensive research into voting protocols involving participants with different weights, Cornell University confirmed that the IOTA Tangle technology is ideal for managing multiple voting processes. The university recognizes the robustness of the technology and its ability to support decentralization.
A fair and transparent voting process is achieved when the influence of participants on the final result is aligned with their weights, making the voting protocol fair. Leveraging IOTA’s Tangle network, the technology now enables IOTA to forge lucrative partnerships with government entities and private sector organizations, enabling it to conduct multi-billion dollar transactions.
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