Various cryptos exist without blockchain. Most of them including IOTA exist via the DAG model that is described as blockchain without blocks. In this network, transactions are directly connected to the chain without requiring any miners to validate blocks. Many commentators and analysts believe that virtual currencies like IOTA will gain mainstream acceptance once institutional investors dive in.
In Germany, institutions are joining the nascent crypto sector and finding real-life use of different tokens. The latest entrant is Trive.Me, the company that developed Trive.Park. Trive.Park is a parking management that has integrated IOTA’s Tangle technology to automate booking and payments for the parking spaces available in Germany.
Back in 2016, IOTA came among the pioneer start-ups that effectively implemented the ‘blockless blockchain.’ IOTA means ‘Internet of Things Applications.’ It strives relentlessly to provide instant transactions with zero fees for the users. That is a major cost-effective solution for micro-payments with cryptos.
The demand for parking is growing rapidly in the country and hence new systems and infrastructures are sort after by most motorists. The new app lets motorists reserve parking in advance.
Furthermore, the application provides parking garage owners with a chance to digitize their assets and monetize them using the new online reservation system. According to Alexander Süssemilch, the Head of Product at Trive, IOTA ranks as the best solution for this activity since it can process micro-payments at minimal fees.
Trive.Me is convinced that IOTA has the key to unlocking efficiency and enhancing customer experience. IOTA, just like most of the major cryptos is currently pressed down by an increasing selling pressure. After opening the Asia session on September 9 at $0.2449, IOTA managed to hit an intraday high of $0.24528. Currently, IOTA is hovering around $0.238 after a 1.75% loss on the day.