Big Data, IOTA and revenues from the processing of data

We do not know it since yesterday: “Data is the oil of the 21st century” Big Data is commonly understood to mean both the data itself and its properties and all the technologies for analysis. Basically, the term is nothing more than the systematic promotion of the new “raw material” using state of the art technology.

The challenge is that IT systems not only correctly handle missing, incorrect or ambiguous data, but also have to provide a reliable basis for making business decisions or adding value to services and applications through analysis — and preferably in real time. Future applications will help you to extract valuable information from data that will only be available to other applications.

In addition, they help decision makers to better understand their customers and to adapt products and services faster and more targeted. And this is where IOTA comes into play.

IOTA can do data transfer in “real time”

As we all know, IOTA has optimal properties for data transfer in “real time” and another advantage resonates with it. It is the possibility to transport data without transaction fees. But that’s just one side. Data has a value and in the future they will be increasingly available for a fee. Incidentally, this also corresponds to the idea of ​​the IOTA data marketplace. In the future, this will create a system in which many billions or trillions of data are purchased and transported daily with IOTA.

IOTA Data Marketplace

The quality, plausibility and informative value of the data are becoming increasingly important. This is also the reason why the combination of different data sets in “real time” is becoming increasingly important. With these automatic links of paid data and the transport of these over the Tangle, an increase in value of the data is generated. This will be a refinement of IOTA or the data in Tangle. So in the future large companies will act, but the system is also applicable in small.

Refinement of IOTA or the data in Tangle

If there is a system that uses IOTA (Tangle) to buy, transport, and refine data, revenue can be generated. Anyone who wants to retrieve specific data needs IOTA. What happens to the price of IOTA in a system that uses billions of Dollars, Euros or whatever every day, with IOTA to buy, transport and exchange data?

Source original picture: https://blog.iota.org/iota-data-marketplace-cb6be463ac7f

public IOTA is currently working with others on a project where IOTA owners can generate revenue from their MIOTA through the data enhancement service. It is a longer term project but we will keep you up to date.

TipIOTA: a new way to earn money online

Tipiota has released an exceptional tool. We report about it and also speak to the founder.

What is TipIOTA?

The Internet is full of great content but unfortunately most of its creators never get a dime for it. TipIOTA aims to break this limitation and empowers creators across all social media platforms to earn money for great work. TipIOTA Chrome browser extensions is currently in private beta but the operators are working hard to roll out integrations with as many social media platforms as possible. They have chosen Reddit as the test platform since it encapsulates a thriving and ever growing IOTA community. Once this plugin is widely tested, they aim to quickly extend this offering to all social media platforms beginning with Facebook, Twitter, Medium and YouTube. Now you can finally be rewarded for adding valuable content to any community. TipIOTA distinguishes itself from similar services by it’s ease of use and possible expansion over the entire internet.

 

How does it work?

It all starts with the Chrome browser extensions which is at the core of the entire process. Once you have installed the TipIOTA extension, all you have to do is to sign into your IOTA wallet. In case you already have a wallet, it’s happy days. Paste in your seed and you’re ready to rock & roll.

In case you’ve never purchased IOTA tokens (coins), it’s very likely that you are not going to have a wallet in the first place. Like with any other currency, you need either a wallet or an account to store your funds. The same applies to IOTA tokens.

The operators provide you with a generator that automatically generates an 81 character seed. What’s a seed? A seed is like a private key/password combined. To access your online banking you would typically key in your name and account number. In case of IOTA wallet, you need to key in your seed to get going. It’s worth mentioning that the seed generator as well as your newly generated seed is always based on the client side, meaning, it’s safe and sound and runs only in your browser. Your private information never gets sent to the operators servers or, in that matter, anywhere else. With all of the security measures in place, the operators would still advise people to always make a designated wallet/seed that’s specifically made only for tips. Treat it almost as a top-up wallet where you store an insignificant amount of coins. This will give you a piece of mind.

 

 

It’s paramount that you store your seed safely and don’t share it with anyone since it gives access to your wallet.

Once you’re logged into your IOTA wallet, you will start noticing “Tip IOTA” buttons in line with other social media post or video options in supported social media sites. That’s where you would typically find your “Like” and “Retweet” buttons etc.

Let’s say you’re on Reddit and found an article very inspiring. You learned something new from it and decided to reward the person who wrote it. All you have to do it to click the “Tip IOTA” button on the article. You would then be presented with a pop-up window promoting you to key in the value of the tip. You would key in the amount, click on the“Tip Now” button and that’s it! Conversely, if you write good articles or publish pictures and animations, you can get some donations from Tipiota. A video to illustrate just how simple it actually is.

TipIOTA’s co-founder Roberts Ozoliņš talks to publicIOTA about the latest developments:

„We’ve done a lot of testing on Reddit and, for the most part, everything is working as intended, however, being purely reliant on IOTA tangle can sometimes be a bit of a hit and miss. Often tangle confirmation rates fall below 20% or even 10%, and it shows. Some transactions only get confirmed after hours or even days of sitting in the void. Sometimes it’s hard to get transactions confirmed with a full-blown automated promotion and re-attachment service. Based on the current community enthusiasm, it’s easy to see how this is not going to be a problem in the future, but for now, it’s out of our control.

Besides our Reddit integration, we have built an integration with Twitter as well, although some Twitter API limitations made us discontinue that service. We’re working on a workaround, but it might take some time. We are also working on a new project that will allow people to request and send tips to anyone on any platform without the use of our plugins. I won’t spill the beans just yet, but it’s something exciting and will work alongside our current offering“

 

More informations:

https://medium.com/tipiota/tip-iota-earn-money-online-3789ddf154bb

https://medium.com/@tipiota/tip-iota-we-are-looking-for-beta-testers-920a6fb126a0

https://medium.com/tipiota/tipitoa-plugins-available-for-download-a0f21c18b90f

 

 

The IOTA Ecosystem is a huge milestone towards global standar

The launch of the website of the IOTA Ecosystem was made on May 1st. Currently, it is in the phase in which the system is filled with life. To achieve this, interested parties can register there and register their projects. In June, the entire ecosystem should start properly.

The IOTA Ecosystem is a huge milestone towards IOTA’s global standard, with a wide variety of activists sharing and learning from each other.

In addition, the fund will support projects that might otherwise never be realized or more difficult, thus laying the foundation for many new IOTA initiatives in global contests. I would like to congratulate the IOTA Foundation for this wonderful system. The idea and the IOTA revolution are advanced in this way.

 

Register your interesting IOTA project in the Ecosystem. Furthermore, I would like to suggest to all IOTA supporters and people who would like to realize interested IOTA projects, to sign up there and also to deposit interesting project there: https://ecosystem.iota.org/ The IOTA Foundatation is looking on the projects to make sure they aren’t non-sense. They just want to ensure some level of quality control to be published on site. They said that soon they will figure out a proper community quality control using the Tangle. You can benefit in three ways:

  • your project is becoming better known
  • You get an optimal exchange with like-minded people
  • You have the option to receive financial support for your project when it is selected.