All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- IOTA, Intel and Dell will present project Alvarium at a joint conference at the end of February.
- The IOTA price is up more than 200% during the last 30 days.
IOTA Foundation has unveiled a new and old partnership with Dell Technologies to go public with Project Alvarium. The project was first revealed in October 2019 when the Linux Foundation announced to utilize IOTA’s distributed ledger technology (DLT) to track multiple data sources. The Linux Foundation said it is building the concept of a Data Confidence Fabric (DCF) to establish a source of data and increase trust between parties.
Within today announcement, the IOTA Foundation disclosed that in addition to Dell, the IOTA Foundation was supported by Intel in the development and testing of the initiative. The partners announced that Project Alvarium will be presented and demonstrated in a public webinar on February 24 at 11:00 am Eastern European Time. Participants will be able to ask questions about how the project works and its underlying technology.
Seeking a high level of security and scalability, Dell based its technology on the IOTA Streams framework and introduced a Data Confidence Factory (DCF) to be employed by enterprises. The system built for the project gives a trust rating and score to every interaction by data traveling from an Internet of Things (IoT) device using a router to access an edge server and a cloud. Then, IOTA’s Tangle network stores the score and rating. That way, the data remains unaltered.
The demonstration that the IOTA Foundation will do with Dell and Intel will be “aligned” with the requirements of companies to use data that needs high-trust approval. In addition, Dell Technologies and Intel will use DCF technology for “privacy-preserving edge deployments.” Steve Todd, Fellow at Dell Technologies, stated the following about the cooperation:
The importance of data transparency is integral to how organizations in every industry move forward. Data confidence is needed to manage data at scale, creating systems of trust in this data so users at all levels understand the terms of use. Project Alvarium will create this transparency, and the more companies that integrate it into their processes and systems, the closer we’ll come to a future without data ambiguity.
For his part, IOTA Foundation co-founder Dominik Schiener added the following about Project Alvarium:
We’re coming to a convergence in technologies and a growth in data utilization, but for that to succeed at scale, we need to be able to trust the data that we’re using.
IOTA price sustains rally
IOTA has had an amazing rally since the beginning of February and is shaping up to be one of the cryptocurrencies with the highest returns of Q1, 2021. At the time of publication, IOTA is trading at $1.28 with a gain of 54% in the last 24 hours. Over the last week, IOTA is showing a plus of 169% and an impressive 231% over the last 30 days.
