Bitfury to bet on new IoT startup

The Bitfury Group has invested $5 Million in a new startup for Internet of Things (IoT) connectivity called Moeco
23 November 2017   1037

The Moeco platform is intended to let IoT users to connect to a global network of integrated IoT cells and to create their own cells in order to become in-house service providers. Exonum, Bitfury’s new protocol, will allow the Moeco platform to move, manage and store data.

The idea is to crowdsource IoT connectivity. It results in natural motivation for every participant - IoT device owners get decreased maintenance costs and lower initial investments; gateway owners receive reward for transferring data from IoT devices. So it's like Uber - we need to make sure that IoT data is being delivered securely to the correct destinations (the taxis) and that gateways are being paid (the drivers).

 

Dmitry Gorilovsky

Co-Founder and CEO, Bitfure

Despite Moeco works on bluetooth, it is planned to be established in a decentralized way by utilizing benefits of the Blockchain technology. Therefore, any smartphone might be a mobile gateway that collects data from the hybrid Bluetooth sensors nearby. At the same time, smartphone app owners can then get revenue for transmitting data from the sensor to the cloud.

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Bittrex to List LOOM

LOOM is the token of the American startup Loom Network, which launches decentralized applications
18 July 2018   196

Popular cryptocurrency exchange Bittrex listed Loom Network token LOOM. 

As the team of the exchange said, trading with the crypto currency will begin in the near future. On the background of this news, LOOM showed a price jump fo 14%.

LOOM Price Chart
LOOM Price Chart

LOOM is the token of the American startup Loom Network, which is launching decentralized applications.

In January, Bittrex tightened the criteria for listing new tokens. Now, developers need to provide technical information about the token itself, as well as the data of at least one team member. At the moment, the exchange has 290 digital coins.