Friday, February 3, 2023
- Advertisment -
HomeNewsBusinessA new upgrade enables data exchange with Ethereum and Ripple via Tangle

A new upgrade enables data exchange with Ethereum and Ripple via Tangle

Over time, there have been further advancements and innovations in the larger IOTA ecosystem. This month, TangleHub released a Shell API for PIPE, an open-source Layer-2 transfer and decentralised storage system.

This is a significant step since it indicates that TangleHUB’s upgrade will enable data interchange with other well-known blockchain systems like Ethereum and Ripple. This development is important since it will provide access points for working with the IOTA ecosystem.

Users can upload/download data and anchors to the IOTA Shimmer Layer 1 via the PIPE infrastructure, which functions as a significantly modified version of the Tangle infrastructure. The key feature of the PIPE Shell API is that other blockchain networks can take advantage of PIPE’s advantages.

It may also open up a number of additional use cases for enterprises and organisations. Decentralized storage solutions are one of the major demands in the blockchain industry, and the PIPE platform meets this need. It also gives users total control over their data, is safe, and is scalable. The benefit of PIPE is that it can store and move data from sources and channels other than those that are anchored to the IOTA Tangle.

The PIPE decentralised storage solution also addresses IOTA’s tangle technology’s second significant flaw, which is that it doesn’t offer enough flexibility. There is a strict cap on the volume of transactions that the IOTA Tangle can support. As a result, Tangle would be unable to store applications that require a lot of data.

Data use cases will be considerably more scalable, quicker, and less expensive thanks to PIPE. Despite having the ability to store data, the IOTA blockchain has significant restrictions that make it impractical for scaled high bandwidth and other high-frequency data storage use cases.

Additionally, Tangle’s total throughput of only Mbps is insufficient for use cases for real-world data DApps. Now, the Tangle network can become congested if there are too many use cases for demanding applications. Tangle cannot handle applications requiring high bandwidth and high frequency data storage, such as supply chain tracking, smart manufacturing, and smart cities.

Through its key characteristics, such as scalability, immutable data storage and transmission, user-oriented design and performance, etc., PIPE solves all of these bottlenecks. Additionally, PIPE guarantees that all users can access its data storage solutions.

The IOTA Tangle and PIPE can cooperate to meet the needs of DeFi and smart contracts for decentralised data storage.

News Summary:

  • A new upgrade enables data exchange with Ethereum and Ripple via Tangle
  • Check all news and articles from the latest Business news updates.


- Advertisment -