Paracosm announced yesterday that it will use IOTA. This is a company that has developed a game development platform. This platform focuses on Virtual Reality (VR) applications. The platform was unveiled at DevGAMM, the largest industry experts conference in Eastern Europe. In a recent blog post, the Minsk-based startup explains why and how the IOTA technology is used.
IOTA allows an unlimited number of transactions
As you know, there are now more than 2000 crypto-weavings and hundreds of different blockchains. Despite this huge selection, Paracosm decided to use IOTA and Tangle to disrupt the VR sector. First, the scalability of IOTA was emphasized. Theoretically, IOTA can handle an unlimited number of transactions per second once the tangle is complete. Creating cross-reality games also requires Internet of Things (IoT) solutions. It is worth noting that IOTA is not a common cryptocurrency, but is developing a completely new ecosystem for the IoT.
Decentralization is the solution
The Paracosm platform is an open source project. Therefore, it wants to avoid interference or surveillance by centralized government agencies. IOTA also seems to offer an ideal solution for this. Like many other Blockchain 3.0 projects, IOTA will be decentralized once the coordinators currently working to prevent a 34-percent attack are removed.
In a 34-percent attack, an attacker succeeds in controlling 34 percent or more of the tangle network's hashrates. A tangle network is technically different from a blockchain, but is used for similar purposes. The big advantage is the speed and unlimited transactions over traditional blockchains.
Resistance to quantum attacks
Looking at the future, the startup also states that IOTA is currently the only system that could survive the rise of the quantum computer. This is widely regarded as an existential threat to most blockchains. IOTA is best known for Quantum Proof Tangle. This is a key competitive advantage for IOTA, which allows the project to differentiate itself from Bitcoin, Ethereum and other blockchains.
As a counter-argument to these, today not yet quantum-resistant, blockchains such as Bitcoin and Ethereum is often said that they will make upgrades to their technology over time. These upgrades should then ensure that quantum resistance is guaranteed in the future. In the past, it has often been seen that large blockchains have evolved in the face of greater challenges.
For IOTA, this news is also positive, showing yet another major application of their technology. According to the message, Paracosm is the first customer to use the final IOTA protocol.
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/iota-news-vr-gaming-plattform-enthuellt-details-your-partnerschaft-mit-iota/
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