The Iota Foundation, the nonprofit organisation backside Iota, Iota Tangle and Miota, announced it will be joining Austria'due south newest Christian Doppler Laboratory, or CDL, as an industrial partner.

The first of its kind, the laboratory is housed at the Vienna University of Technology and named the CDL Blockchain Technologies for the Net of Things, or CDL-BOT.

The laboratory was officially opened in a digital ceremony on November. 26 past Austrian Federal Minister for Digital and Economical Diplomacy Margarethe Schramböck. It volition focus on research and evolution in public and private partnerships between institutions and businesses seeking to aggrandize the implementation of distributed ledger technologies, or DLT, in everyday use scenarios.

Iota is joining CDL-BOT along with its new inquiry partner, Pantos, which bills itself as "the first multi-blockchain token system." Pantos is an adjunct of BitPanda, a Vienna-based trading platform for cryptocurrencies and other assets, such as golden.

Professor Stefan Schulte, who is leading the newly established lab, remarked:

"With the rising number of potential awarding areas for DLT-based payments and data exchange in the Cyberspace of Things, new DLTs have to be integrated, and interoperability between different DLTs becomes necessary. I am looking forwards to doing joint enquiry with the IOTA Foundation and Pantos in lodge to find novel solutions to this highly topical topic."

Launched as Jinn in 2014, Iota'south goal is to implement its platform equally the defacto standard for DLT and IoT devices, which is currently experiencing unprecedented economic growth. Using Iota as an operational standard, each IoT device would be able to transmit data and payment information to other devices connected to the Iota mainnet.

On Nov. 24, Iota completed a standardization update to help assure interoperability between devices and systems using Iota-based software. In October, the Iota Foundation announced it would be working with the government of Japan on a project seeking to transform the country's industrial infrastructure using its systems.

The Iota network can now theoretically handle up to 1,000 transactions per second thanks to an August upgrade dubbed "Chrysalis."

Although Iota has faced criticism in the past of being overly centralized, the Iota Foundation plans to go a fully decentralized network by Q1 2021.