IOTA Deposy Team Provides New Details On NTA Algorithm

The IOTA Deposy team published new details about the operation specifications of the Deposy Non Transaction time Algorithm or NTA as we are reading in our IOTA news today.

Some of the other IOTA news includes the listing of the new Delta exchange with 20x leverage and the invitation of the IOTA co-founder Dominik Scheiner to the European Command Control Cybersecurity Summit. The IOTA Deposy team published more explanation on how the technology works. As per the reports, the developers achieved a huge breakthrough at the end of last year in the development of the new algorithm that will allow the project to achieve the necessary scalability. It was also revealed that the entire Transactiontime algorithm has a whole new way of operating.

The developers of the project BIOTA, developed a new reward system that can create an incentive to separate waste. Up to this day, they have designed a deposit system for plastic products that are provided with a QR code that contains a lot of information on the CO2 footprints as well as the plastic composition of the recycling rate.  The data will be stored on the IOTA Tangle and this is important for the environmentally conscious consumers but also for the deposit machines, reusers, and recyclers. According to the blog post, the data will be even more important in the future of the governments and cities across the world will follow the example of Tubingen, the small German City.

At the start of January, the city decided on a new tax disposable packaging. The mayor Boris Palmer said that this disposable culture has to come to an end by saying:

‘’The disposable culture in the cities lives from the fact that the cities spend millions to dispose of the waste.’’

As the team developers wrote, it is conceivable that these taxes as in the German City could be easily compensated in the future by recycling quota to which the IOTA Deposy solution will make a huge contribution. The Deposy NTA allows a generation of the ID of the product and the independent of transaction times in the IOTA Tangle. Without this algorithm, each new transaction will have to wait before the previous one is confirmed so the ID product can be started. With the new algorithm, the Deposy product ID can be generated very fast which is a very important upgrade on an industrial scale.