‼️Connected devices & data drive the future of our world. A very promising development in this area is taking place right now! Find out what you need to know about the powerful combination of @iotatoken, @xkd2mam & #BoschXDK in this blog article: https://t.co/FaGZtqEUd5 #IOTA pic.twitter.com/Bjg7RdKbYK
— Bosch Connectivity (@Bosch_BCDS) November 12, 2018
What is IOTA Marketplace?
IOTA marketplace is a decentralized data place to purchase and sell access to working data streams using Masked Authenticate Messaging (MAM).
As per the blog post of Bosch, Masked Authenticate Messaging is the data communication protocol which allows peer-to-peer data sharing through an encrypted medium. The other part of the blog explained the IOTA ecosystem; its advantages over BTC, and the reason behind choosing it as a partner.
The blog further reads as:
“The use of the innovative IOTA Tangle technology results in higher scalability and becomes faster and even more secure the more activity there is. It is, therefore, a serious transaction settlement and data transfer layer for the Internet of Things.”
A Look into the Future
As per the future predictions of Bosch, by 2020, there is an estimation of over 20 billion interconnected devices. All of the devices are expected to generate a lot of data and according to the firm; DATA is the oil of the future. IOTA’s marketplace’s plan is to collect that data and then providing it to the compensating parties. On the data transferred by Masked Authenticated Messaging, the users will have the facility to either buy or sell it.
The Cross-Domain Development Kit (XDK) – manual sensor device that collects IoT data is the contribution of Bosch. The kit integrates software, connectivity mediums like WiFi, and sensor technologies to make it authenticated on any IoT based setup. The XDK can also be used to gather real-time data and sell it through the IOTA marketplace.
Bosch Hardware and IOTA Marketplace
In the past, there was no such connection between the XDX sensor of Bosch and the IOTA marketplace. But at present, it is no more a thing to worry, as the problem is solved with the involvement of XDK2MAM. This platform now connects the sensor hardware of Bosch to the market of IOTA through communication protocols like HTTP (Hypertext Transfer Protocol).